Citrine Energy Capital Management LLC, a newly formed energy private equity firm with offices in Houston and Dallas, Texas, has confirmed its formal launch. Founded by former senior Natural Gas Partners (NGP) executives William Quinn, Tomas Ackerman, and Daniel Goodman, Citrine will focus on small and middle market investments requiring between $25 million to $75 million of equity capital in the North American upstream, midstream, and oilfield services sectors.
Prior to his departure from NGP, Quinn served as a managing partner of the firm, where he oversaw the firm's investment activities. Though all of Citrine's executives bring experience in the upstream sector, Ackerman, a former managing director and head of NGP's Houston office, brings a specific expertise and network in the midstream sector, while Goodman, formerly a principal in NGP's Houston office, was involved in NGP's oilfield services investments. Levinson has also joined Citrine as a member of the senior leadership team, where he will serve as COO.
Citrine has also entered into a strategic investment agreement with NGP.