US based private equity firm Trilantic Capital Management has committed a $250m equity investment in the newly created oil and gas exploration and production firm TRP Energy.
TRP Energy intends to utilise the capital for acquiring and financing development of direct, non-operated working interests in onshore assets in the country.
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Trilantic North America partner Glenn Jacobson said: "We believe the combination of TRP’s non-op strategy, management’s unique skill set and the current macro environment creates a compelling opportunity to partner with top-tier operators in the development of their oil and gas projects.
"We are thrilled to invest with the TRP management team and to execute on the exciting opportunities ahead."
This investment raises Trilantic’s investment commitments for the energy sector to nearly $2.8bn.
The company has made recent investments in North America in Ward Energy Partners and Fluid Delivery Solutions.
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By GlobalDataTRP CEO Trent Foltz said: "We see a lot of potential in this non-op strategy and are fortunate to be accompanied by a partner with such extensive oil and gas investment experience and a proven track record of success."
TRP is based in Houston, Texas and is involved in identifying, acquiring and developing non-operated working interest in oil and gas projects across the US.
The firm intends to team up with operators in order to strengthen its portfolio with non-operated positions across the premier basins. It plans to handle high-quality oil and gas assets with well control which comes along with considerable undeveloped upside.
Image: The investment deal raises Trilantic’s commitments for the energy sector to around $2.8bn. Photo: courtesy of stockimages / FreeDigitalPhotos.net
