Post Oak Energy Capital has committed USD100 million of equity to Sierra EF, a subsidiary of Sierra Resources. Affiliates of GSO Capital Partners (GSO), and the Sierra management team have also contributed capital to the Company and will continue to invest alongside Post Oak.
Sierra is a Houston-based exploration and production company with a focus on the acquisition and development of oil and gas properties in South Texas. The Sierra team is led by industry veterans John Eads, President; John C. Eads, CFO; John T Campbell, COO; Robert S. Fabris, EVP Land & Business Development; and John H Kelly, EVP Engineering. Management has extensive experience in all phases of the oil and gas business and has a long and successful track record of acquiring and developing oil and gas assets.
“Having known the team at Sierra for decades, Post Oak is excited to partner with Management and GSO to target the dry gas window of the Eagle Ford Shale,” says Post Oak Managing Director Frost Cochran. “Management has an impressive track record of investing in and operating across a number of basins across the country, and is well positioned for success in the highly-economic Eagle Ford Shale play.”
“We value this relationship with Post Oak,” says John Eads, Sierra President. “Their approach to investing is consistent with GSO’s and our vision, and we are pleased to be working with them on this new venture as we further capitalise on our investments in the Eagle Ford.”
