Hawkwood Energy LLC, a new upstream oil and gas company, announced its formation and that an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, and Ontario Teachers' Pension Plan, through its private equity division Teachers' Private Capital (TPC), have agreed to make an investment of up to $300 million.
Hawkwood, which will seek to develop scalable oil and gas plays in known producing basins of the Rockies and Midcontinent, is led by Chief Executive Officer (CEO) Patrick Oenbring and Chief Operating Officer (COO) Leonard Gurule. Mr. Oenbring is an experienced oil and gas executive with nearly four decades of industry experience mainly at ConocoPhillips, Occidental Petroleum and Harvest Natural Resources. Mr. Gurule joined the Company from Forest Oil Corporation where he served as a Senior Vice President responsible for the Company's Midcontinent assets, prior to which he had a long and successful career at ARCO.
Patrick Oenbring, CEO, Hawkwood Energy commented, "I am delighted to team with Warburg Pincus, a leading private equity investor in the E&P sector, and Teachers', also an experienced investor in the energy sector. With the financial backing and expertise of our investors, we are confident that our experienced team will be well positioned to create and realize value."
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