Website
Address
2901 Via Fortuna, Suite 600
Austin, Texas 78746
Phone
(737) 300-4700
Company Description
AVAD Energy Partners II, LLC is a private oil and natural gas company formed in 2020 with equity commitments from Pearl Energy Investments, NGP Energy Capital Management, and management. AVAD II will pursue an acquire and exploit strategy focused on creating value through operational excellence with an agnostic view to commodity type or basin. AVAD II is uniquely positioned and ideally suited to execute this strategy due to management’s experience successfully evaluating, operating, and monetizing a wide variety of asset types across the United States including conventional, unconventional, secondary recovery, coal-bed methane, and shallow offshore. Read more about our team.
AVAD Energy Partners I, LLC was founded in 2016 with equity commitments from the same partners and successfully pursued a similar strategy.
Operations
VAD Energy Partners I Operations in Mississippi and Texas
AVAD Energy Partners I is headquartered in Dallas, Texas. In Mississippi, AVAD Operating produces 500 barrels of oil per day. In Crockett County, Texas, AVAD Operating produces 700 barrels of oil per day.
AVAD Energy Partners II Operations in Texas
AVAD Energy Partners II is headquartered in Dallas, Texas. In Crane County, Texas, AVAD Operating produces 1,200 barrels of oil per day.
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AVAD II Launches with Backing from Pearl Energy Investments, NGP
AVAD Energy Partners II LLC recently launched in pursuit of an acquire-and-exploit strategy of oil and gas properties across the U.S. with backing from partners of its successor.
The newly formed private oil and natural gas company said in an Aug. 27 release it had closed equity commitments from investment funds managed by Pearl Energy Investments and NGP Energy Capital Management. The amount of the commitments was not disclosed.
In the release, Dallas-based AVAD II said it will pursue an acquire-and-exploit strategy focused on creating value through “operational excellence with an agnostic view to commodity type or basin.”
Its successor, AVAD Energy Partners I LLC, successfully pursued a similar strategy, according to the company’s website.
AVAD I was founded in 2016 by John Davis, Tom Quigley and Crystal Blackstone, which had experience working together at several companies including Netherland, Sewell & Associates Inc. (NSAI), Hunt Petroleum Corp. and Alpine Gas Co. LLC. The following year, the company successfully raised $77.5 million of equity commitments from the same partners with Pearl acting as lead investor.
Davis and Quigley, who have worked together for over 30 years, have returned for the formation of AVAD II. Davis, who previously co-founded Alpine Gas Co., will serve as CEO of AVAD II while Quigley will serve as the company’s senior vice president of reservoir engineering.
Joining Davis and Quigley as co-founders of AVAD II are Michael Krehel and Steven Mickey.
Together, the management of AVAD II have experience successfully evaluating, operating and monetizing a wide variety of asset types across the U.S. including conventional, unconventional, secondary recovery, coalbed methane and shallow offshore, the company website said.
“Our team has the rare combination of accurate underwriting and operational experience with a successful track record of realizing excellent returns for our capital providers, even in downward commodity price cycles, resulting in our strong capital partnerships over the past 17 years via Alpine and AVAD I,” Davis said in a statement on Aug. 27.
Krehel, who joined AVAD I shortly after its inception, previously worked for Southwestern Energy Co. He will serve as vice president of operations for AVAD II.
Mickey joins AVAD II after working in several different areas of the oil and gas industry with Goldman Sachs, Denham Capital Management, and a large private equity backed E&P focused on the Eagle Ford. He will serve as vice president of business development for the company.
“We look forward to capitalizing on the current market environment and continuing to deliver superior risk-adjusted returns to our investors,” Davis added in his statement.
