Michael Cooper in the Dallas Business Journal: 12 DFW Energy Companies Get Total of $3.5B in Funding

04/12/2013


A dozen energy companies in North Texas have received funding commitments totalling almost $3.5 billion in the past 15 months, marking the highest level of investment into privately held companies in that space in at least a decade.

In fact, that’s more money than was pumped into private Dallas-Fort Worth energy companies between 2007 and 2011 combined. That four-year total was about $2.62 billion.

With West Texas Intermediate crude oil prices at more than $90 a barrel this week, compared with below $20 in 2002, and improved drilling and extraction technology, North Texas enterprises like Venari Resources, Caiman Energy II and MorningStar Partners are quickly putting their money to work, expanding their workforces, local headquarters and operations in Texas and beyond...

“The price of oil is at a level that will sustain and provide a profit and return on the drilling activities that are currently underway,” said Michael Cooper, Dallas-based of counsel at law firm Haynes and Boone, LLP. “That’s the key to motivate investors to put money into oil and gas drilling and exploration. They see there can be good returns that justify an investment of those dollars. You’ve got capital looking for a place to earn a return.”

Excerpted from the Dallas Business Journal, April 12, 2013. To view full article, click here (subscription required).

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