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3Bear Energy secures equity commitment from GSO, Wells Fargo and 3Bear management

Affiliates of GSO Capital Partners (GSO), a division of Blackstone, Wells Fargo and 3Bear management have finalised an equity commitment to 3Bear Energy to pursue the development of North American midstream oil and natural gas assets.

 
“I am pleased to announce the commitment to 3Bear from GSO and Wells Fargo,” says Bob Clark, chief executive and founder of 3Bear. “This is our second partnership with GSO, one of the preeminent investors in the energy industry. We previously partnered with GSO on the successful development of Bear Tracker Energy, and we look forward to working with them again as we grow 3Bear. GSO’s commitment, along with the commitment from Wells Fargo, will provide the financial support essential for 3Bear to develop crucial midstream infrastructure needed by producers in developing areas throughout the US.”
 
“We are delighted to once again have the opportunity to invest with Bob Clark and his team,” says Dwight Scott, senior managing director of GSO. “We have seen first-hand the value that Bob and his team can offer producers and believe the current North American market continues to have excellent midstream development opportunities.”
 
Beatty & Wozniak P.C. served as legal counsel to 3Bear. Sidley Austin served as legal counsel to GSO.

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