Carlyle and EOG Resources Announce $400 Million Drilling Partnership
New York, NY – Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG) and EOG Resources, Inc. (NYSE: EOG) have entered into a definitive agreement to fund the development of EOG’s oil and gas assets in Ellis County, Oklahoma. As part of the joint venture, Carlyle Energy Mezzanine Opportunities Fund II L.P. will fund up to $400 million for the development program over four years. After certain performance hurdles are achieved in the program, Carlyle’s working interests will largely revert to EOG.
The Carlyle Energy Mezzanine Opportunities Group has 20 investment professionals based in New York and Houston and is dedicated to providing growth and refinancing capital to projects and companies in the energy sector through its two funds Carlyle Energy Mezzanine Opportunities Fund, L.P. and Carlyle Energy Mezzanine Opportunities Fund II, L.P., which have combined assets of approximately $4 billion.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $162 billion of assets under management across 287 investment vehicles as of March 31, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.
About EOG Resources, Inc.
EOG Resources, Inc. is one of the largest independent (non-integrated) crude oil and natural gas companies in the United States with proved reserves in the United States, Trinidad, the United Kingdom and China. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol "EOG." To learn more about EOG, visit the website at www.eogresources.com.
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