Hilcorp and Carlyle partner to acquire oil and gas properties

Hilcorp Energy Co., a privately owned oil and gas exploration and development company, has established a newly formed partnership, Hilcorp Energy Development, LP, which seeks to acquire, operate, and develop onshore oil and natural gas properties and related assets in North America.

In conjunction with the establishment of the company, the Carlyle Energy Mezzanine Opportunities Fund LP and Carlyle Energy Mezzanine Opportunities Fund II LP, funds controlled by the Carlyle Group, have entered into a definitive agreement to invest up to $1.24 billion in the newly formed partnership.

Houston-based Hilcorp, founded by Jeffrey Hildebrand in 1989, has operations in the Gulf Coast of Texas and Louisiana, the US Northeast, and Alaska.

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