Post Oak Energy Capital and Goldman Sachs Asset Management Commit $100 Million to PetroEdge Energy III
Summary
PetroEdges management team will be co-investing alongside Post Oak and GSAM.PetroEdge is a newly formed oil and gas company headquartered in Houston, Texas. In addition, PetroEdge has deep knowledge of conventional oil and gas development.PetroEdge has acquired an acreage position in Brazos and Burleson Counties, Texas, and will initially be focused on drilling and developing the lower Eagle Ford (Maness), an oil-prone shale play. said Frost Cochran, Managing Director of Post Oak, "The combination of a proven team with an attractive captive opportunity is consistent with our investment philosophy. Prior to forming PetroEdge, the management held senior positions at several leading energy companies, including Halliburton, Pennzoil, Texaco, Petroleum Geoservices and Southland Royalty.For more information, please visit www.petroedge.com.Post Oak, which was established in 2006, is an energy focused private equity firm based in Houston, Texas. Through these private equity investment strategies, GSAM seeks to partner with strong management teams and to provide the strategic and capital support needed to develop successful businesses.For more information, please visit www.goldmansachs.com.