Post Oak Energy Capital LP said Dec. 9 it has committed to a $100 million line of equity to newly-formed UpCurve Energy LLC.
UpCurve is an upstream-focused oil and gas company headquartered in Houston. The company's management team, formerly with ConocoPhillips (NYSE: COP), will co-invest alongside Post Oak, the release said.
UpCurve will initially focus on leveraging its expertise in both horizontal recompletions and unconventional development in prolific shale formations such as the Eagle Ford, Haynesville and Bakken.
The company said the shale basins not only harbor "thousands of refrack opportunities due to the presence of older, less advanced completions, but also possess equally attractive undeveloped opportunities."
UpCurve will be led by Denis Pone as CEO. Pone holds four patents in enhanced oil recovery and production optimization. He is credited with pioneering ConocoPhillips’ highly successful horizontal refracturing program, according to the release.
Other members of the UpCurve management team include Zach Fenton as COO, J.J. Oshins as senior vice president of business development, and Brett Clair as CFO.
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