Third Platform Investment in TPH Partners II, L.P.
Houston, Texas - TPH Partners, the middle-market energy private equity funds manager, has partnered with management to form Channel Energy, LLC, an independent upstream company headquartered in Denver, Colorado. Channel is focused on the acquisition and development of onshore oil and gas properties across several basins in the U.S.
Channel is led by Kevin Corbett, President and CEO, and Doug Izmirian, EVP and CFO, who have almost sixty years combined experience in the oil and gas industry and a proven track record of success. Over his thirty-one year career, Mr. Corbett has led successful exploration and development projects onshore in the U.S., and in Europe, Asia and Africa, including previously founding and leading Wrangler Resources and Sequoia Production. Mr. Izmirian also has an impressive background, previously serving as co-founder and CFO of TransZap and as a co-founder of Citadel Oil and Gas Corporation.
Channel will utilize management’s experience and technical expertise to pursue primarily liquids-focused assets in historically prolific basins through a combination of acquisition and farm-in transactions.
“We are fortunate to have the opportunity to put capital to work with such an excellent management team. Kevin is a proven oil finder with a track record of value creation, and Doug’s history of successful entrepreneurship in the oil patch will add an important element to the team’s skill set,” said George McCormick, Managing Partner of TPH Partners.
“We think that now is a great time to be putting capital to work in the oil and gas business, and we have an extensive list of potentially overlooked opportunities identified,” said Kevin Corbett, President and CEO of Channel. “Doug and I feel that we and the TPH Partners team are very well aligned in our views and expectations, which makes for a great partnership, and we look forward to working together in the creation and growth of this new company.”
About TPH Partners
TPH Partners, based in Houston, Texas, is the private equity arm of Tudor, Pickering, Holt & Co., LLC, an integrated energy investment and merchant bank. TPH Partners makes private investments in the upstream, oilfield service and midstream subsectors of the energy industry. For more information on TPH Partners, please visit www.tphpartners.com.
About Channel Energy, LLC