Black Bay Energy Closes Second Fund at $210 Million

Source: www.gulfoilandgas.com 5/11/2022, Location: North America

Black Bay Energy Capital, LLC (“Black Bay”) is pleased to announce the closing of its oversubscribed second fund, Black Bay Energy II, L.P. (the “Fund”), with total commitments of $210 million, exceeding its $200 million target. Black Bay invests in companies led by talented entrepreneurs offering proven, next-generation products and services that help improve economics, efficiency and safety for energy producers across the hydrocarbon value chain. Black Bay focuses on investments requiring up to $30 million of equity capital.

“The Black Bay team is extremely grateful for the confidence placed in us by our investors,” said Michael LeBourgeois, Managing Partner at Black Bay. “We believe that our focused approach within the underserved lower-middle market energy sector will generate attractive risk-adjusted returns for our Fund investors and portfolio company partners.”

“Black Bay is solely focused on partnering with talented management teams that are bringing next-generation solutions to the energy industry. Underinvestment in traditional forms of energy has limited the sources of capital for entrepreneurs with compelling businesses,” said Guy Cook, Partner at Black Bay. Tom Ambrose, Partner at Black Bay added, “The energy industry is under pressure to increase shareholder value – but needs to do so in a more environmentally & socially responsible manner – and Black Bay is investing in companies that help the industry deliver on those objectives.”

The Fund has completed two investments to date, including:

- Piñon Midstream – a midstream services provider focused on the gathering, treatment, and redelivery of sour gas. Piñon removes and sequesters hydrogen sulfide (H2S) and carbon dioxide (CO2), unlocking constrained, prolific oil & gas resources in the eastern Delaware Basin. (www.pinonmidstream.com)

- Advanced Industrial Devices – a provider of high-performance electric motor automation and control solutions to the energy and industrial sectors. AID’s offering includes highly engineered and customized variable frequency drive control systems for clients who are electrifying and instrumenting their compression, artificial lift, saltwater disposal, and industrial pump operations. (www.aidusa.com) Latham & Watkins, LLP, led by partner Edward D. Nelson, served as fund formation counsel. Black Bay did not engage a placement agent for formation of the Fund.


Cameroon >>  6/30/2022 - Victoria Oil & Gas Plc provides the following update in relation to its Annual Report and Accounts and trading position.

Annual Report and...

Canada >>  6/30/2022 - International Petroleum Corporation ("IPC" or the "Corporation") announces that the Swedish Financial Supervisory Authority approved the prospectus in...

Canada >>  6/30/2022 - Trillion Energy International Inc. is pleased to announce the closing of its previously announced increased best efforts marketed public offering (the...
Netherlands/Holland >>  6/30/2022 - With the help of a syndicate of 12 international relationship banks, Vopak was able to successfully extend its EUR 1 billion senior unsecured revolvin...

Norway >>  6/30/2022 - In line with the objective for the share buy-back programme which was executed by Equinor ASA in three tranches in the period 28 July 2021 until 25 Ma...
United Kingdom >>  6/30/2022 - Orcadian Energy Plc is pleased to announce that, further to its announcement of 7 a.m. (London time) today, it has successfully completed and closed t...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.