Slant Energy II, LLC (“Slant II”), a newly formed upstream oil and gas exploration and production company, announced today it has secured a $90 million commitment from Dallas-based private equity firm, Pearl Energy Investments (“Pearl”). Headquartered in Lafayette, Louisiana, Slant II will pursue acquisition and development opportunities focused primarily in the Permian Basin, North Texas, and East Texas.
Slant II was co-founded by Stewart Stover and Jeff Etienne. Prior to Slant II, Stewart, Jeff, and existing Slant I management have demonstrated a successful track record acquiring, optimizing, and developing upstream assets in various onshore basins.
“We are very appreciative of the ongoing support from Pearl. We have had a great partnership and view this additional commitment as an opportunity to continue to execute our business plan,” said Slant II Chief Executive Officer Stewart Stover.
Billy Quinn, Managing Partner of Pearl, said, “The Slant team has proven their ability to create value in multiple operating regions and through dynamic market conditions. Pearl is excited to support Slant II as the team capitalizes on areas of historic success.”
