Slant Energy III Receives Equity Commitment from Pearl
Deal News | Feb 25, 2025 | Pearl Energy Investments
Slant Energy III, LLC, a new upstream oil and gas exploration and production company, has secured an equity commitment from Pearl Energy Investments, a private equity firm based in Dallas. Slant III, headquartered in Lafayette, Louisiana, will focus on acquiring and developing opportunities in the Permian Basin region of West Texas and New Mexico. The company was co-founded by Stewart Stover and Jeff Etienne, both with a substantial history of success in the sector. The investment signifies a continuation of the partnership between Pearl and the Slant team, established in 2016. Legal advisors included Kirkland & Ellis LLP for Slant III and Wilkie Farr & Gallagher LLP for Pearl in relation to the formation of the company.
Sectors
- Energy
- Private Equity
- Legal Advisory
Geography
- United States – Both Slant Energy III and Pearl Energy Investments are based in the USA, with Slant focusing primarily on opportunities in West Texas and New Mexico.
Industry
- Energy – The article focuses on investments in the oil and gas exploration and production sector, part of the wider energy industry.
- Private Equity – Involvement of Pearl Energy Investments, a private equity firm, investing in Slant Energy III demonstrates activities within the private equity sector.
- Legal Advisory – The presence of legal advisors, Kirkland & Ellis LLP and Wilkie Farr & Gallagher LLP, highlights legal advisory's role in the transaction.
Financials
- $3.0 billion – Pearl Energy Investments' cumulative capital commitments.
- $50 million to $150 million – Typical equity capital targeted by Pearl Energy Investments in opportunities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Slant Energy III, LLC | Target Company | Company | A newly formed upstream oil and gas company based in Lafayette, Louisiana, focused on acquisitions and development in the Permian Basin. |
| Pearl Energy Investments | Private Equity Investor | Company | A Dallas-based private equity firm investing in the North American energy sector. |
| Stewart Stover | Co-Founder and CEO | Person | Co-Founder and Chief Executive Officer of Slant Energy III. |
| Jeff Etienne | Co-Founder | Person | Co-Founder of Slant Energy III. |
| Kirkland & Ellis LLP | Legal Advisor to Slant III | Company | Provided legal advisory services to Slant Energy III. |
| Wilkie Farr & Gallagher LLP | Legal Advisor to Pearl | Company | Provided legal advisory services to Pearl Energy Investments. |
| Billy Quinn | Managing Partner | Person | Managing Partner at Pearl Energy Investments. |