Post Oak Energy Capital, LP (“Post Oak”), through investment partnerships it manages, today announced that it led a $200 million equity commitment to Moriah Henry Partners LLC (the “Company”). Henry Energy LP (“Henry”) and Moriah Energy Investments, LLC (“Moriah”) will co-invest alongside Post Oak.
Moriah Henry Partners LLC is a Midland-based exploration and production company focused on the acquisition and development of oil and gas properties in the Midland Basin of West Texas. The Company is jointly managed by Henry and Moriah, which have a long history of collaboration and value creation in the upstream space, particularly in the Permian Basin. The Company will use proceeds from the investment to fund acquisitions in the core of the Midland Basin and subsequently develop those assets.
“We are delighted to partner with these industry veterans and leaders,” said Post Oak Managing Director Frost Cochran. “Their deep experience in the Midland Basin will allow us to capitalize on numerous opportunities in one of the most economic basins in the country.”
Jim Henry, Founder and Chairman of The Henry Companies said, “I am very excited to be focused, once again, in the core of the Midland Basin, where I began drilling Spraberry wells nearly 50 years ago. Our relationship with Moriah and Post Oak enhances our capacity to drill horizontal Wolfberry wells in an area we are very familiar with.”
“We are thrilled to partner with Henry and Post Oak Energy Capital,” said Cary D. Brown, Founder and Chairman of Moriah Energy Investments, LLC. “The relationship provides a powerful combination of technical and unconventional development experience with financial and strategic capabilities.”