Post Oak Energy Capital, LP (Post Oak) has announced the closing of an equity commitment to Tiburon Oil & Gas Partners, LLC (Tiburon) alongside commitments from management and additional investors. Tiburon is a Houston-based exploration and production company dedicated to responsibly acquiring, developing, and operating upstream oil and gas assets in the Appalachian Basin. In conjunction with the equity commitment, Tiburon closed on an initial acquisition of leasehold in the liquids rich portion of the Utica Shale play in Ohio. Tiburon has received its initial Unitization Permit to develop a portion of its existing Utica position and is in the process of aggregating additional leasehold to move forward with its first phase of development.
Latham & Watkins LLP represented Post Oak in the transaction with a Houston-based corporate team led by partner James Garrett, with associates Kevin Donovan and Caroline Silverstein. Advice was also provided on oil and gas matters by Houston partner Michael King, with associates Cesar Leyva, Brian Bruzzo, and Brock Jones; on tax matters by Houston partner Jim Cole, with associate Dylan White; and on benefits and compensation matters by Houston counsel Krisa Benskin.
