Post Oak Energy Capital LP is leading a $100 million equity commitment to Saxet II Minerals LLC, the Houston-based firm said Feb. 28.
Saxet, also based in Houston, focuses on the acquisition of mineral and royalty interests in the U.S. Saxet President Robert E. O'Brien and his team have extensive experience in all phases of the oil and gas business with a "successful track record" of acquiring and managing minerals, according to the release.
Saxet II Minerals is the second partnership with Post Oak. The first iteration aggregated a position of mineral and royalty interests primarily in the Scoop/Stack play in Oklahoma and the Midland Basin in West Texas.
"The Post Oak team has been very supportive of our efforts in acquiring minerals and royalties across multiple basins, and we look forward to continuing to implement our mineral and royalty acquisition strategy," O'Brien said in a statement.
The company's management team will co-invest alongside Post Oak in Saxet II Minerals.
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