An unexpected job offer coming out of college nudged Mike Forbau from a presumed career in banking into the midstream energy sector. It was a case of being in the right place at the right time. His streak continued in management positions with some of the sector’s biggest players before he moved to a private equity-backed startup. The gathering and processing operator he now heads has continued that success—starting up in the Delaware Basin.
AB PRIVATE CREDIT INVESTORS ANNOUNCES $120MM CREDIT FACILITY
Caprock Midstream LLC ("Caprock"), a private gathering and processing infrastructure company has entered into a $120 million senior secured term loan facility with AB Private Credit Investors LLC ("AB-PCI") as Administrative Agent / Co-Lead Arranger and Goldman Sachs Specialty Lending Group ("GSSLG") as Co-Lead Arranger, to fund the continued growth of Caprock's Delaware Basin gathering and processing assets.
RESOLUTE SWITCHES TO BUY MODE WITH DELAWARE BASIN DEAL
Resolute Energy Corp. (NYSE: REN) switched into growth mode with a $135 million acquisition that will boost its net acreage position in the Delaware Basin by 25%, the company said Oct. 4. The Denver-based company entered a definitive agreement with Firewheel Energy LLC, a portfolio company of EnCap Investments, to acquire certain properties consisting of 3,293 net acres in Reeves County in West Texas.
RESOLUTE ENERGY CORPORATION ANNOUNCES $135 MILLION DELAWARE BASIN ACQUISITION
Resolute Energy Corporation ("Resolute" or the "Company") (NYSE: REN) today reported that it has entered into a definitive agreement (the "Acquisition Agreement") with Firewheel Energy, LLC ("Firewheel"), a portfolio company of EnCap Investments, to acquire certain oil and gas properties located in Reeves County, Texas, for a purchase price of $135 million (the "Firewheel Properties").