Crestview Drops $100M For 50% Stake In Texas-Aimed Driller

Law360, New York (May 15, 2012, 6:54 PM EDT) -- Crestview Partners LLC on Tuesday became the latest private equity firm to double down on U.S. energy, committing $100 million to Silver Creek Oil & Gas LLC, a newly launched driller building up acreage across the Sun Belt.

Crestview gains exposure to bustling shale formations along the Texas-Oklahoma border, along with a smaller footprint in New Mexico and Louisiana. Silver Creek, which was formed in December by veteran energy investor John Schmitz, picks up a big financial backer and new working capital.

Crestview's stake is 50...
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