Global finance/investment firm TPG Sixth Street and private oil and gas producer Glendale Energy Ventures announced a new oil and gas investment partnership with an initial $500 million in capital commitments.
The new partnership will use its funding to invest in the development and acquisition of upstream oil and gas assets across the U.S., Kallanish Energy learns.
Glendale will work with TPG Sixth Street’s Houston-based energy team to provide capital to operators by structuring investments in non-operated interests and operated-by-others (Obo) acquisitions.
“We are pleased to be partnering with Glendale’s experienced team of oil and gas industry veterans in order to provide operators with the expertise, certainty and stable capital required to meet their short and long-term strategic needs,” said Matt Dillard, partner at TPG Sixth Street.
Glendale is led by co-founders Brent Grundberg and Vignesh Proddaturi. “We believe there is more demand than ever for partnership capital to allow operators to achieve their full-scale development plans,” Grundberg said
The partnership has already deployed funds with the completion of $55 million in acquisitions of non-operated interests in drilling pads located in Oklahoma’s Stack play.
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