The investment firms Titanium Exploration Partners LLC and Castlelake LP formed a joint venture focused on the Eagle Ford Shale and other domestic, nonoperated oil and natural gas assets, Titanium said May 29.
“This joint venture combines the expertise of Titanium Exploration Partners with the resources of Castlelake and the capital they manage,” Chip Simmons, Titanium’s CEO, said.
He added, “Having a strong capital partner like Castlelake will allow us to expedite the investment and acquisition process for the benefit of our operating partners, sellers of non-operated working interests and landowners.”
Titanium will be the asset manager, and will provide capital through its funds, the company said.
“The joint venture brings together Titanium’s specialized expertise and our unique approach to investing in illiquid assets where long-term capital is of significant value,” said Luke Beltnick, the managing director of Castlelake.
He added, “As development in the Eagle Ford Shale grows, so too does the need for capital to facilitate these transactions, and Castlelake is in a unique position to meet the needs of all parties involved.”
Overall, Castlelake has invested more than $600 million in the energy industry, Titanium said.
Titanium Exploration Partners is based in Dallas.
Minneapolis-based Castlelake LP is an alternative investment firm working internationally.
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