Hawthorne Secures Equity Commitment from Carnelian Energy Capital
Hawthorne Energy LLC has secured an equity commitment from Carnelian Energy Capital III LP, a fund managed by Houston-based energy investment firm Carnelian Energy Capital Management. The size of the commitment has not been disclosed.
Hawthorne has been formed to pursue an opportunistic acquisition strategy in select onshore basins in North America. The company is led by John Oberg and Marc Shatzer, who previously worked together at Three Rivers Operating Company III LLC, a Permian-focused company that was backed by Riverstone Holdings LLC.
“We believe the current market dynamics are setting up for a uniquely attractive opportunity to acquire oil & gas assets and execute on our strategy. We look forward to building our business with the Carnelian team,” said John Oberg, who will serve as Hawthorne’s CEO.
Carnelian Energy Capital Management has made approximately US$1.8 billion of cumulative equity commitments, with a focus on lower-to-middle market equity investments across the upstream, midstream, and oilfield services sectors in North America.