Denver-based 3Bear Energy LLC, a midstream oil and natural gas company formed in 2013 by industry veteran Robert J. Clark, announced that affiliates of GSO Capital Partners LP, a division of Blackstone (NYSE: BX), Wells Fargo & Co. and 3Bear management have finalized an equity commitment to pursue the development of North American midstream assets.
“I am pleased to announce the commitment to 3Bear from GSO and Wells Fargo,” stated Bob Clark, CEO and founder of 3Bear. “This is our second partnership with GSO, one of the preeminent investors in the energy industry. We previously partnered with GSO on the successful development of Bear Tracker Energy, and we look forward to working with them again as we grow 3Bear. GSO’s commitment, along with the commitment from Wells Fargo, will provide the financial support essential for 3Bear to develop crucial midstream infrastructure needed by producers in developing areas throughout the United States.”
“We are delighted to once again have the opportunity to invest with Bob Clark and his team,” stated Dwight Scott, senior managing director of GSO. “We have seen firsthand the value that Bob and his team can offer producers and believe the current North American market continues to have excellent midstream development opportunities.”
Beatty & Wozniak PC served as legal counsel to 3Bear. Sidley Austin LLP served as legal counsel to GSO.
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