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Warburg Pincus Drops $150M PE Line To Oil Co.

Law360, New York (January 19, 2018, 3:43 PM EST) -- Texas-based oil and gas exploration and production company Stronghold Energy II Holdings LLC received a line of equity financing of up to $150 million from funds affiliated with private equity firm Warburg Pincus, the company said Friday.

Stronghold focuses its work on the Central Basin Platform of the Permian Basin and will look to use the influx of capital to acquire more land for oil and gas development.

"Our focus in the Permian Basin is the Central Basin Platform, which is different than the Midland Basin...
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