| Saber Oil and Gas Ventures sold returning 1 times invested capital. |
Eschelon Completes Initial Close of Pine Brook Feeder Fund
| Eschelon completed the initial close of its feeder partnership for Pine Brook Partners II. Eschelon’s 50% partner in this entity is Michael Mithoff’s Teton Strategic Investments, Inc. www.pinebrookpartners.com |
Managing Director Tom Glanville Speaks at the Eagle Ford Infrastructure Finance and Development Conference in San Antonio
| Eschelon Energy Partners Managing Director Tom Glanville spoke at the Eagle Ford Infrastructure Finance and Development Conference in San Antonio on the Panel “Investment Opportunities in Eagle Ford Infrastructure Expansion”. Full conference materials are available at www.infocastinc.com/eagleford. |
Eschelon Distributes 4.7% of Capital to Partners of Pine Brook Texas
| Pine Brook Texas distributed 4.7% of capital, reflecting proceeds of the sale of portfolio companies Phoenix Exploration to Apache and Global Oilfield Services to Halliburton. |
June 24, 2010
| Pine Brook Texas distributed 6.7% of capital, reflecting proceeds from the sale of Common Resources. Gross multiple on this investment was this 3.12 times with a 116% IRR. |
April 14, 2009
| Strand Energy announced today a new joint venture partner, Cadent Energy Partners (www.cadentenergy.com), that will significantly extend its reach in today’s marketplace. Strand Partners, of which Strand Energy will own 10% and operate with Cadent owning the balance, will be focused on acquisition and development opportutities in Strand’s core operating regions. |
March 12, 2009
| Eschelon Managing Partner Tom Glanville was elected President of the Texas Tri-Cities (Houston, Austin, and San Antonio) Chapter of the National Association of Corporate Directors. The chapter is one of the largest and most active chapters nationally with over 600 individual members representing 47 corporations, the vast majority of which are public companies. Glanville has been a member of the association and the chapter since 2004 and a board member of the chapter since 2007. |
December 8, 2008
| Saber Oil and Gas Ventures, LLC (“Saber Ventures”), a Midland based Permian Basin focused oil and gas acquisition and exploitation company, completed its initial equity fundraising. Saber Ventures was founded by and is lead by the principals of Saber Resources, a historical Eschelon portfolio company sold in 2008. Energy Special Situations Fund II is the lead investor in the financing. Eschelon assisted with this placement and invested in the company. Eschelon Managing Partner Tom Glanville will be an Advisory Director. |
August 1, 2008
| Eschelon portfolio company Saber announced the completion of its sale to Celero for an undisclosed amount. Returns to Eschelon investors were approximately 2.17 times invested capital and a 20% plus annual internal rate of return. Final results will be provided after release of escrowed funds, expected by year end. |
April 30, 2008
| Eschelon portfolio company Chroma announced the completion of an acquisition of a private oil and gas company with assets in the Gulf Coast producing region of Texas and Louisiana. With the acquisition, the company now produces 17 million cubic feet of natural gas equivalent per day from 236 wells. New lead and most significant investor is ACON, a Washington DC based private equity firm. |