LAFAYETTE, La.–(BUSINESS WIRE)–Slant Energy II, LLC (“Slant II”), a new upstream oil and gas exploration and production company, today announced that it has secured a $90 million commitment from Dallas-based private equity firm Pearl Energy Investments (“Pearl”). Based in Lafayette, Louisiana, Slant II will pursue acquisition and development opportunities with a primary focus on the Permian Basin, northern Texas and the east texas.
Slant II was co-founded by Stewart Stover and Jeff Etienne. Prior to Slant II, Stewart, Jeff and existing Slant I management demonstrated a successful track record in acquiring, optimizing and developing upstream assets in various onshore basins.
“We greatly appreciate Pearl’s continued support. We have had a great partnership and view this additional commitment as an opportunity to continue executing our business plan,” said Slant II Managing Director Stewart Stover.
Billy Quinn, Managing Partner of Pearl, said, “The Slant team has proven its ability to create value across multiple operating regions and in dynamic market conditions. Pearl is excited to support Slant II as the team capitalizes on areas of historic success.
Advisors
Kirkland & Ellis LLP served as counsel to Slant II and Sidley Austin LLP served as counsel to Pearl in connection with the formation of Slant II.
About Slant II
Slant II is a Lafayette-based upstream oil and gas company focused on acquiring and developing assets in select onshore basins. For more information, please visit www.slantenergy.com.
About Pearl Energy Investments
Pearl Energy Investments is a Dallas, Texas-based investment firm with $1.2 billion in committed capital under management. Pearl is focused on partnering with best-in-class management teams to invest in the lower to mid-market North American energy and sustainability sectors. The firm typically targets opportunities requiring equity between $25 million and $150 million. For more information, please visit www.pearl-energy.com.