UpCurve Energy, a Houston-based oil and gas company, received a $100m line of equity.
Backers included Post Oak Energy Capital, LP, through investment partnerships it manages, and UpCurve’s management team.
Led by CEO Denis Pone, UpCurve is a newly formed upstream-focused oil and gas company focusing on the drilling, development and refracturing of unconventional resources. The company will initially focus on joint ventures, farm-ins, organic leasing efforts and acquisitions its efforts in unconventional shale plays throughout the Contiguous United States.
Mr Pone, who holds four patents in enhanced oil recovery and production optimization, is credited with pioneering ConocoPhillips’ horizontal refracturing program. Other members of the UpCurve management team, also from ConocoPhillips, include Zach Fenton, COO; J.J. Oshins, SVP of business development; and Brett Clair, CFO.