HOUSTON, Dec. 9, 2015 /PRNewswire/ -- Post Oak Energy Capital, LP (Post Oak), through investment partnerships it manages, announced that it committed to a $100 million line of equity to UpCurve Energy, LLC (UpCurve). UpCurve's management team will co-invest alongside Post Oak.
UpCurve is a newly formed upstream-focused oil and gas company headquartered in Houston. CEO Denis Pone, a technical visionary who holds four patents in enhanced oil recovery and production optimization, leads the company's management team. Pone is credited with pioneering ConocoPhillips' highly successful horizontal refracturing program. Other members of the UpCurve management team, also from ConocoPhillips, include Zach Fenton, COO; J.J. Oshins, EVP of business development; and Brett Clair, CFO.
UpCurve will initially focus on leveraging its expertise in both horizontal recompletions and unconventional development in prolific shale formations such as the Eagle Ford, Haynesville and Bakken. These basins not only harbor thousands of refrac opportunities due to the presence of older, less advanced completions, but also possess equally attractive undeveloped opportunities.
"We are incredibly pleased to establish a relationship with these industry leaders," said Post Oak Managing Director Frost Cochran. "Their expertise positions UpCurve for strong growth and vast opportunities across numerous shale plays."
"Fully capturing the tremendous resources revealed by the shale renaissance will require a proper integration of technical expertise, financial strength and entrepreneurial spirit," Pone said. "I am privileged to embark on this amazing journey with a dynamic management team and to grow UpCurve with Post Oak's strong financial backing and industry knowledge."
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