Post Oak Energy Capital, L.P. (“Post Oak”) has announced the successful closing of an equity commitment to Ichthys Energy Partners, LLC (“Ichthys”), facilitated by investment funds managed by Post Oak. Ichthys plans to implement its growth strategy through a focused approach on both operated and non-operated leasehold acquisitions and strategic partnerships throughout the Permian Basin.
Based in Dallas, Ichthys is an exploration and production company dedicated to aggregating and responsibly developing operated inventory in the Permian Basin. The management team is led by co-founders Michael Poynter, Chief Executive Officer, and Will Weidig, Chief Financial Officer, both of whom have extensive leadership experience in prominent private equity-backed and publicly traded companies in the region.
“We are excited to partner with Post Oak to assemble and develop a high-quality operated inventory position in the Permian Basin,” said CEO Michael Poynter. “Partnership is essential to the Ichthys strategy, and collaborating with a proven financial partner like Post Oak, along with our strong relationships in the Permian, will enable us to swiftly and creatively capture opportunities.”
CFO Will Weidig added, “Post Oak has a strong track record in the energy sector and is recognized as a knowledgeable, collaborative, and supportive partner. We believe our combined experience in aggregating, developing, and monetizing assets in the Permian Basin, along with Post Oak’s expertise, will empower Ichthys to execute our growth strategy and deliver attractive risk-adjusted returns for our investors.”
Ryan Walsh, Director at Post Oak, remarked, “We are pleased to partner with the Ichthys management team, who bring a stellar track record in the Permian Basin from both public and private equity perspectives. The ongoing industry consolidation is creating compelling opportunities for motivated entrepreneurs, and we look forward to working closely with the Ichthys team to leverage their industry relationships and commercial creativity to achieve successful outcomes during this unique phase of the basin’s investment life cycle.”
Kirkland & Ellis LLP served as legal advisor to Ichthys, while Latham & Watkins LLP acted as legal advisor to Post Oak in connection with the formation of Ichthys.
