AVAD Energy Partners LLC (AVAD), a newly formed oil and natural gas production company based in Dallas, TX, has raised $77.5 million of equity commitments from lead investor Pearl Energy Investments, Natural Gas Partners (NGP) through its affiliate NGP Natural Resources XI LP, and management. AVAD is focused on acquiring and developing conventional oil and gas properties in the United States.
John Davis, AVAD’s CEO, previously co-founded Alpine Gas Company LLC, which acquired and developed assets located primarily in Texas and the Gulf Coast. Prior to Alpine, he was a vice president and technical advisor at Netherland, Sewell & Associates Inc. (NSAI) as well as a senior engineer for Exxon Company USA. Tom Quigley, senior vice president, will head the acquisition, evaluation, and development efforts of AVAD. He has over 25 years of engineering experience, having previously worked at Alpine, NSAI, Exxon, Hunt Petroleum Corp. and Encana Oil and Gas USA Inc. Crystal Blackstone, vice president, has worked for 25 years alongside David and Quigley as an analyst at NSAI, Hunt and Alpine.