Irving, Texas-based privately-held oil and gas exploration and production company, Silver Creek Oil & Gas, LLC has received a USD100 million investment from New York-based private equity firm Crestview Partners.
The investment is in partnership with current owner Sunray Capital. Sunray is a private investment vehicle owned by CEO of oil field services provider Select Energy Services, John Schmitz. The proceeds of the investment will be used to acquire and develop additional unconventional oil prospects and liquids-rich natural gas plays and to develop Silver Creek’s existing acreage.
To further support Silver Creek’s development, Crestview and Sunray have committed to substantial additional unfunded capital investment.