plymouthkeeping an eye on things, and i know a lot about whats...

plymouth

keeping an eye on things, and i know a lot about whats going on in texas in the play.. atm i am not sure the info is exactly being reported correctly, always leaves me on the sidelines when i see too much spin..

KKR partners with Hilcorp in Eagle Ford Shale investment

Private equity fund Kohlberg Kravis Roberts & Co. announced June 14 it will invest up to $400 million in the Eagle Ford Shale in south Texas in a partnership with Houston-based Hilcorp Energy Co.

The new venture, called Hilcorp Resources LLC, will develop oil and natural gas assets on 100,000 net acres in the Eagle Ford Shale formation southeast of San Antonio.

Under the terms of the definitive agreement, Hilcorp Energy will own 60 percent of the partnership, with Kohlberg Kravis owning the rest. Hilcorp will contribute the 100,000 net acres it owns and also will manage day-to-day operations, according to a press release. Hilcorp Energy, based in Houston, is a privately owned independent oil and natural gas company formed in 1989. The company operates primarily in the Gulf Coast region and in Wyomings Powder River Basin.

We believe in the long-term potential of the Eagle Ford and see a tremendous opportunity to drive job creation and related economic benefits for a variety of stakeholders in connection with the development of the Eagle Ford," said Marc Lipschultz, member of KKR and global head of KKRs Energy and Infrastructure business.