Carnelian Energy Capital’s Equity Commitments to Upstream Oil and Gas Companies SandPoint Resources and Veritas Permian

Willkie recently represented Carnelian Energy Capital II, L.P., a fund managed by Carnelian Energy Capital Management, L.P. (“Carnelian”), in connection with equity commitments to upstream oil and gas companies SandPoint Resources, LLC and Veritas Permian II, LLC.

Veritas will pursue upstream oil and gas opportunities in select domestic onshore basins, with an initial focus on non-operated Permian Basin assets. The Veritas team has a strong track record of value creation in the acreage acquisition space, most recently having built a large position in the core of the Midland Basin that led to a sale to Parsley Energy. The SandPoint team is based out of San Antonio, Texas and will look to capitalize on its history of acquisition and development success in South Texas to pursue upstream oil and gas opportunities in that region.

Carnelian is an energy investment firm based in Houston that focuses on lower-to-middle market equity investments in the domestic onshore upstream, midstream and oilfield services sectors.

Willkie advised Carnelian with a team including partner Michael De Voe Piazza (Picture), Warren Knull, Will Thanheiser, Robert Jacobson and Yaniv Maman.

Involved fees earner: Michael De Voe Piazza – Willkie Farr & Gallagher; Warren Knull – Willkie Farr & Gallagher; Will Thanheiser – Willkie Farr & Gallagher; Robert Jacobson – Willkie Farr & Gallagher; Yaniv Maman – Willkie Farr & Gallagher;

Law Firms: Willkie Farr & Gallagher;

Clients: Carnelian Energy Capital Management, L.P.;

Author: Ambrogio Visconti