Led · Equity · Mar 2025

Wild Basin Energy is a mineral and royalty acquisition company headquartered in Austin, Texas, focused on assembling a premier portfolio of natural-gas-focused minerals and royalties, primarily in the Haynesville Basin of East Texas and Louisiana. The company seeks to benefit from structural growth in US LNG and from domestic power-generation expansion driven by AI and data centers. Management emphasizes a technically focused approach and cites prior experience assembling large mineral assets as a core strength. Wild Basin currently holds just over 4,000 net royalty acres in the core of the Haynesville. The team is led by CEO Blake Williams and includes former Brigham Minerals employees and a leadership group across land, reservoir engineering, and geology. The company intends to continue acquiring minerals and royalties to grow its portfolio and deliver risk-adjusted returns.

Participated · Equity · Dec 2018

Cavalcade Midstream is a newly formed, full-service midstream company based in San Antonio, Texas, focused on providing tailored midstream solutions through greenfield development and strategic M&A, initially in the Permian Basin. The company is led by founding partners Rich Reynolds (CEO), Hunter Thunell (President and Chief Commercial Officer), and Ross Dillon (COO), who previously worked together at NuStar Energy L.P. and have experience across the Permian and Eagle Ford basins and multiple product streams including crude oil, natural gas and refined products. Cavalcade intends to leverage the founders' operational, commercial and M&A expertise to execute greenfield projects and pursue strategic acquisitions. The company announced an initial equity commitment of $150 million from Pearl Energy Investments, Old Ironsides Energy and NGP to support its launch and early activities. Pearl and NGP bring institutional capital—Pearl with $1.2 billion of committed capital under management and NGP with approximately $20 billion of cumulative equity commitments—while Old Ironsides contributes energy investment experience. Norton Rose Fulbright served as legal advisor to Cavalcade and Thompson & Knight advised the investors. Cavalcade says the combination of its team and financial sponsors will enable it to provide creative, flexible and reliable midstream solutions for customers.

Led · Equity · Mar 2018

Mettle Midstream Partners is a newly formed, full-service midstream company established in 2018 and based in Dallas, Texas. The firm offers a suite of integrated midstream services including natural gas gathering, processing, compression and treating; crude oil and condensate gathering and stabilization; produced-water gathering and disposal; and product marketing. Mettle’s founding partners, Matthew Innamorati (CEO) and Drew Bredthauer (President and CCO), have prior senior midstream experience at Align Midstream Partners and EnLink Midstream, respectively. The company is focused on the acquisition and development of first-class midstream assets in resilient unconventional plays across North America. Management states it will leverage its industry relationships and execution capabilities to build a successful midstream business that provides service to producer customers. Financially, Mettle has secured an initial equity commitment to support its development and acquisition plan.

Led · Equity · Jan 2017

SLANT Energy is an independent exploration and production company focused on developing conventional, shallow oil and gas properties in North Texas and the mid-continent region. The company plans to drill new wells in established reservoirs and purchase existing assets while optimizing production to maximize value. SLANT was formed with a $30 million equity commitment from Pearl Energy Investments, which provides its initial capital backing. The management team is led by co-founders Stewart Stover III (CEO), Thomas Saloom (CFO), and Sean Gill (Executive VP of Land and Business Development), who have hands-on experience in operations, reservoir management, acquisitions, land, and financial management. SLANT operates from offices in Wichita Falls, Texas and Lafayette, Louisiana. The company emphasizes a lean organizational structure and a disciplined, strategic approach to create value in the current market environment.

Led · Equity · May 2016

Teal Natural Resources is a newly formed oil and natural gas exploration company launched in March 2016 and headquartered in Dallas. The company plans to pursue and develop primarily unconventional resource play opportunities in Texas, initially focusing on the Eagle Ford Shale in South Texas. Teal intends to deploy capital toward leasing, acquiring producing properties, and partnering with like-minded organizations to develop assets and optimize production. The leadership team includes CEO John Roby, President and Chief Geologist Neil Basu, and COO John King, each with multi-year technical and transactional experience at firms such as Occidental Petroleum and Pioneer Natural Resources. Teal says it will leverage technical understanding and operational efficiencies to enhance drilling programs and well performance. The company was advised by Winstead PC.