Financing

AVAD Energy Partners II Secures Equity Commitments

By Kunal Raj
August 27, 2020
a minute read
Gold Coins and Dollars

AVAD Energy Partners II LLC (AVAD II), a newly-formed oil and natural gas production company, has secured equity commitments from Dallas-based private equity firm Pearl Energy Investments LP and Houston-based NGP Energy Capital Management LLC (NGP). The size of the commitment has not been disclosed.

In January 2017, AVAD II’s predecessor, AVAD Energy Partners LLC (AVAD I), secured an equity commitment of USD77.5 million from Pearl Energy Investments, along with NGP and the management of AVAD I. AVAD II has been formed to acquire and exploit assets across basins and commodity types. The company has been co-founded by John Davis and Tom Quigley, who have previously worked together for over 30 years at ExxonMobil Corp., Netherland Sewell & Associates Inc., Alpine Gas Co., and most recently AVAD I.

“Our team has the rare combination of accurate underwriting and operational experience with a successful track record of realizing excellent returns for our capital providers, even in downward commodity price cycles, resulting in our strong capital partnerships over the past 17 years via Alpine and AVAD I. We look forward to capitalizing on the current market environment and continuing to deliver superior risk-adjusted returns to our investors,” said AVAD II’s CEO, John Davis.

Pearl Energy Investments is a private equity firm with US$1.2 billion of committed capital under management, and is focused on investments in the North American upstream, midstream, and oilfield services sectors.

NGP is a private equity firm with approximately US$20 billion of cumulative equity commitments in the energy and natural resources sectors, having invested in over 360 transactions since 1988.

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