3Bear Energy LLC Announces Equity Commitment from GSO Capital Partners LP, Wells Fargo & Company and
3Bear Energy LLC Announces Equity Commitment from GSO Capital Partners LP, Wells Fargo & Company and 3Bear Management
NEW YORK--(BUSINESS WIRE)-- 3Bear Energy, LLC, ("3Bear") a midstream oil and natural gas company formed in 2013 by industry veteran Robert J. Clark, announced that affiliates of GSO Capital Partners LP ("GSO"), a division of Blackstone (NYS: BX) , Wells Fargo & Company ("Wells Fargo") and 3Bear management have finalized an equity commitment to pursue the development of North American midstream assets.
"I am pleased to announce the commitment to 3Bear from GSO and Wells Fargo," stated Bob Clark, CEO and Founder of 3Bear. "This is our second partnership with GSO, one of the preeminent investors in the energy industry. We previously partnered with GSO on the successful development of Bear Tracker Energy, and we look forward to working with them again as we grow 3Bear. GSO's commitment, along with the commitment from Wells Fargo, will provide the financial support essential for 3Bear to develop crucial midstream infrastructure needed by producers in developing areas throughout the United States."
"We are delighted to once again have the opportunity to invest with Bob Clark and his team," stated Dwight Scott, Senior Managing Director of GSO. "We have seen firsthand the value that Bob and his team can offer producers and believe the current North American market continues to have excellent midstream development opportunities."
Beatty & Wozniak P.C. served as legal counsel to 3Bear. Sidley Austin LLP served as legal counsel to GSO.
About 3Bear Energy
3Bear Energy LLC, headquartered in Denver, CO, is a full service midstream oil and natural gas company with expertise in gathering, processing, compression, treating, fractionation, and marketing. 3Bear's management team has successfully grown multiple midstream businesses and has a proven track record of providing innovative and cost-effective energy solutions for oil and natural gas producers. 3Bear's management team was most recently responsible for the development of Bear Tracker Energy, a leading midstream business in the Rockies. Bear Tracker developed several crude oil, natural gas, and water gathering systems in the Bakken Shale in North Dakota and the Niobrara Shale in Colorado. For more information please contact Kevin Collins at 303-626-8260.
About Blackstone and GSO
Blackstone is one of the world's leading investment and advisory firms with approximately $230 billion in assets under management as of June 30, 2013. It seeks to create positive economic impact and long-term value for investors, the companies it invests in, the companies it advises and the broader global economy. Blackstone does this through the commitment of extraordinary people and flexible capital. Blackstone's alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. GSO, a division of Blackstone, is a leading credit-focused alternative asset manager, with approximately $62 billion of assets under management as of June 30, 2013. GSO has a global footprint with approximately 235 professionals, including a dedicated team of energy and power professionals with significant experience investing in energy and power sectors, among its offices in New York, Dublin, London and Houston. Further information is available at www.blackstone.com. Follow on Twitter @Blackstone.
About Wells Fargo
Wells Fargo & Company (NYS: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2013 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially. Wells Fargo perspectives are also available at blog.wellsfargo.com.
Peter Rose, Global Public Affairs, +1-212-583-5871
KEYWORDS: United States North America Colorado New York
The article 3Bear Energy LLC Announces Equity Commitment from GSO Capital Partners LP, Wells Fargo & Company and 3Bear Management originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.