Luxe Energy LLC closed $500 million in private-equity commitments from NGP Natural Resources XI LP, the company said May 4. This is Natural Gas Partners’ most recent fund focused on natural resources and management, Luxe said.
The equity will support horizontal drilling and multistage fracking in Luxe’s West Texas operations.
Luxe’s founders, Lance Langford and Jeff Larson, have worked together for more than 24 years, beginning at Burlington Resources. Langford is Luxe’s CEO, and the company was recently formed. Most recently prior to Luxe, Langford and Larson were senior vice president and and vice president, respectively, at Statoil ASA (STO).
Prior to joining Statoil, they were both executive vice presidents at Brigham Exploration. They led Brigham’s entry into the Bakken, and managed Brigham’s operations there through the merger with Statoil before forming Luxe, the company added.
"I'm very excited about finding opportunities and using technology to drive operational excellence. The team we have put together has a proven record of driving technology and top-tier operations," said Langford.
Luxe Energy LLC is based in Austin, Texas.
Recommended Reading
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-21 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
The OGInterview: Petrie Partners a Big Deal Among Investment Banks
2024-02-01 - In this OGInterview, Hart Energy's Chris Mathews sat down with Petrie Partners—perhaps not the biggest or flashiest investment bank around, but after over two decades, the firm has been around the block more than most.
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.