Slant Energy III, LLC (“Slant III”), a newly formed upstream oil and gas exploration and production company, announced it has secured an equity commitment from Dallas-based private equity firm, Pearl Energy Investments (“Pearl”). Headquartered in Lafayette, Louisiana, Slant III will pursue acquisition and development opportunities focused primarily in the Permian Basin region of West Texas and New Mexico. Slant III was co-founded by Stewart Stover and Jeff Etienne. Prior to Slant III, Stewart, Jeff, and existing Slant management have demonstrated a successful track record acquiring, optimizing, and developing upstream assets in various onshore basins.
“We are appreciative of the ongoing support from Pearl and are excited for the opportunity to execute our business plan in a dynamic energy landscape,” said Slant III Chief Executive Officer Stewart Stover.
Billy Quinn, Managing Partner of Pearl, said, “Pearl is excited to continue our long-standing, successful partnership with the Slant team. Since 2016, Slant has created value across multiple basins and through various operating strategies. We expect the market to provide unique opportunities for Slant to capitalize in their focus areas.”
Kirkland & Ellis LLP served as legal advisor to Slant III and Wilkie Farr & Gallagher LLP served as legal advisor to Pearl in connection with the formation of Slant III.
