Red Wolf Natural Resources, LLC ("Red Wolf"), a newly formed upstream oil and gas exploration and production company, announced today that it has partnered with Pearl Energy Investments ("Pearl"), a private oil and gas investment firm.
Image: Onshore drilling. Photo: courtesy of Stuart Miles/Freedigitalphotos.net.
Headquartered in Oklahoma City, Red Wolf will pursue upstream development and acquisition opportunities focused in the Mid-Continent region as well as select Rockies basins.
Red Wolf’s founders, led by Drew Deaton, Chief Executive Officer, and Jeff Dahlberg, Chief Operating Officer, have a history of success in acquiring, developing and divesting upstream oil and gas assets in many U.S. producing regions, most recently in the Denver-Julesburg Basin in Colorado and the Anadarko Basin in Oklahoma, having previously worked together at Ward Energy Partners, LLC.
Drew Deaton said, “We are very excited to partner with Pearl in forming Red Wolf. Our combined business and technical expertise position us well as we look to execute on the unique opportunities in the oil and gas business today. In particular, we believe there remains significant value to be unlocked within our target basins and we know that we possess the knowledge and skill set to take advantage of these opportunities.”
Jeff Dahlberg added, “We are optimistic about Red Wolf and the energy industry, and we look forward to this partnership. Combining Pearl’s significant investment expertise and experience with our dedicated and cohesive team who have a successful history of working together is a great opportunity for all of us.”
“We are proud to align ourselves with Drew, Jeff and the entire Red Wolf management team,” said Stewart Coleman, Managing Director of Pearl. “Their combination of technical and operating expertise, deep local networks, and track record of successfully working together positions them to capitalize on the current environment, and our commitment reflects our confidence in their business plan.”
Kirkland & Ellis LLP served as legal counsel to the Red Wolf management team. Thompson & Knight LLP served as legal counsel to Pearl.
Source: Company Press Release