Post Oak Energy Capital LP led a $100 million equity commitment, through partnerships it manages, in Crown Oil Partners V LP.
The money will be used for Midland, Texas-based Crown's corporate growth, development acceleration and acquisitions.
Crown, led by Mike Black and Brandon Black, is an oil and gas partnership. Crown is Post Oak's third investment in one of Mike Black's oil and gas partnerships (Crown is his sixth oil and gas partnership). The company is focused on implementing and optimizing recovery operations and developing drilling operations in the Clearfork, Wolfcamp and Bone Springs formations in west Texas and southeast New Mexico.
Houston-based Post Oak is an energy-focused private equity firm. In February, the firm closed a $600 million fundthat will focus on investing in North American oil and gas companies, oilfield services and related infrastructure. Post Oak and Ridgemont Equity Partners committed $100 million to Titan River Energy LLC in March 2013.
The news comes as private equity firms focuse increased attention on the oil and gas industry. In April, Energy Capital Partners closed a $5 billion fundthat will make energy investments. In February, Intervale Capital closed a $495 million fund that will focus on making lower middle-market energy investments.
For more on private equity's interest in the oil and gas sector, see "3Qs With Craig Jarchow, Managing Director, Pine Brook Partners."