Epoch Resources has announced the closing of an equity commitment from Carnelian Energy Capital II, a fund managed by Carnelian Energy Capital Management (Carnelian).
Epoch, an independent oil and natural gas company headquartered in Oklahoma City, was co-founded by Garin Wente and Kyle Taylor to pursue an acquisition and development strategy, with an initial focus on the Mid-Continent and Appalachian Basins.
Epoch’s executive team has extensive knowledge and familiarity in their targeted areas, including from Wente and Taylor’s time working together at Chesapeake Energy, where they were involved in the evaluation and operation of assets across a variety of resource plays.
Garin Wente commented: “It is a compelling time to leverage our prior experiences to build Epoch into an active and successful company.” Kyle Taylor remarked: “We are thrilled to be partnering with Carnelian and believe their focus on being value additive will help us achieve our goals.”
Carnelian Principal Kevin Goodman added: “We have known the Epoch team for years and are looking forward to growing Epoch together. Their technical and operational expertise, along with their commercial experience and mindset, create an exciting platform.”
Source: Company Press Release