Rock Oil Holdings LLC said June 9 that Wells Fargo Energy Capital Inc. and BNP Paribas SA (PARIS: BNP.PA, OTC: BNPQY, BNPQF) provided it with investments and capital commitments.
They each provided $22 million in equity, bringing the company’s total capital commitments to $300 million, Rock Oil said.
“BNP Paribas and Wells Fargo Energy Capital have invested with our company in the past, and I am delighted they have chosen to do so again. Along with Riverstone, their strong financial support and energy industry expertise will be instrumental in allowing us to implement our business plan,” said Kyle R. Miller, CEO.
Additionally, the company said that Jason R. Cansler joined as its president, and that Brian F. Harper joined as its vice president of engineering.
Most recently, Cansler worked on Wells Fargo Securities LLC’s acquisitions and divestitures team, which he co-founded, Rock Oil said. He also worked at Chevron Corp. (NYSE: CVX) for more than 10 years, the company noted.
Most recently, Harper was a director of that team, Rock Oil said. Prior to that, he was reservoir manager at Rosetta Resources Inc. (NASDAQ: ROSE) , and also worked at Burlington Resources and Chevron, the company added.
“Jason and Brian bring a unique perspective to our endeavors, their energy, expertise and enthusiasm will be crucial as we launch this new endeavor,” Miller said.
Rock Oil Holdings LLC, dually based in Houston and Denver, works in the Permian Basin and the Eagle Ford and Utica Shales.
Recommended Reading
Biden Administration Argues Against Enbridge Pipeline Shutdown Order
2024-04-11 - The U.S. argues that shutting down the pipeline could interrupt service and violate a 1977 treaty between the U.S. and Canada to keep oil flowing.
Enbridge Announces $500MM Investment in Gulf Coast Facilities
2024-03-06 - Enbridge’s 2024 budget will go primarily towards crude export and storage, advancing plans that see continued growth in power generated by natural gas.
Enbridge Sells Off NGL Pipeline, Assets to Pembina for $2.9B
2024-04-01 - With its deal to buy Enbridge’s NGL assets closed, Canada's Pembina Pipeline raised EBITDA guidance for 2024.
Enbridge Fortifies Dominant Role in Corpus Christi Crude Transport
2024-03-20 - Colin Gruending, Enbridge executive vice president and president for liquids pipelines told Hart Energy the company’s holdings in South Texas are akin to a “catcher’s mitt” for Permian and Haynesville production.
Early Startup of Trans Mountain Pipeline Expansion Surprises Analysts
2024-04-04 - Analysts had expected the Trans Mountain Pipeline expansion to commence operations in June but the company said the system will begin shipping crude on May 1.