Oct. 16–SandPoint Resources, a privately held independent oil and gas company based in San Antonio, received an equity commitment from Carnelian Energy Capital II, a fund managed by Carnelian Energy Capital Management, a Houston energy investment firm.
SandPoint operates in Texas oil and gas plays, including the Eagle Ford shale in South Texas. It managed geology, engineering, land and finance functions at BlackBrush Oil and Gas, Lewis Energy, Abaco Operating and Silverback Exploration, according to SandPoint.
The amount of the equity commitment is not disclosed.
Carnelian has $1 billion of equity investments and focuses on lower-to-middle market equity investments in the North American upstream, midstream and oilfield services sectors.
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