TPH gets Storm-y in the Permian

Houston-based TPH Partners, the private equity fund tied to the folks at Tudor Pickering Holt, has formed a Midland company to acquire and develop oil and gas properties in the Permian basin.
Storm Peak Energy is headed by David Cox, 48, as president and lead reservoir engineer; Bill Coggin, 55, as CFO; and Mark Ellerbe, 49, as VP of Operations.
Cox and Ellerbe have worked in the Permian for about 25 years, TPH says, both at Mobil Oil at other private-equity backed companies.
For its first deal Storm Peak is partnering with another operator (the release doesn’t say who) on the exploitation of an acreage block in one of the basin’s horizontal oil plays.
TPH Partners’ other portfolio companies include: BlueRock Energy Capital, an upstream finance business; Ingrain, Inc., a digital rock physics company; Meritage Midstream Services, a gathering and processing company; and UniversalPegasus, an engineering firm focusing primarily on the US onshore market and international subsea market.

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