"As with prior PEP investment partnerships, PEP Development will lean on our team's history of working with quality institutional investors and established, experienced Permian operators who share the goal of successfully acquiring and stewarding energy and natural resources," added Walker Moody, President.
"Our drilling partnerships may include authorization for expense (AFE) acquisitions, farm-in or drill-to-earn opportunities, drill-ready acreage, or other structured opportunities. We have a lot of flexibility in how we form partnerships. Fundamentally, we deliver a capital solution in a challenging capital markets environment and are excited to build great businesses with great operators," added Lex Hochner, Managing Director.
PEP Development will focus on drilling and development capital opportunities from $50 million to $150 million.
Latham & Watkins LLP served as legal counsel to PEP.
About PEP
Pickering Energy Partners is an energy-focused financial services firm. Over the past 30 years, our team has deployed over $15 billion across all energy sub-sectors. At our core, we are trusted energy advisors, investors and partners to our clients. Headquartered in Houston, Texas, PEP delivers an experienced, opportunistic team that aims to provide guidance and long-term value for clients while positively impacting the companies and communities that PEP invests in. PEP has been methodically built over several years, spanning multiple commodity and energy market cycles, with the goal of creating a best-in-class, financial services firm. To learn more about PEP and PEP Private Equity, visit pickeringenergypartners.com.