Houston-based Battlecat Oil & Gas, LLC expects to expand into the Eagle Ford Shale play after procuring $220 million from funds managed by Wells Fargo Energy Capital, Lime Rock Partners, and the organizations management team.
Kurt von Plonski, managing director at Battlecat states, “The Battlecat team has been involved in South Texas unconventional exploitation since its inception, and we look forward to applying that experience to build a successful business with our investment partners.”
According to Wood Mackenzie’s commercial intelligence, as of November 2014 the Eagle Ford Shale play has produced over 1 billion barrels of crude and condensate. More importantly, 70 percent of the production took place over the last two years, and the Eagle Ford currently accounts for 16 percent of the US total oil production.
A couple reasons why Battlecat is one of the many Houston-based upstream companies expanding into the Eagle Ford Shale play. The company will start drilling in its lease position in the Eagle Ford play in the first half of 2015.