Bright Horizon Resources today announced that it has closed on a $300 million equity commitment from Denham Capital, an energy and resources-focused global private equity firm. Bright Horizon Resources is a newly formed E&P company that will pursue oil and natural gas opportunities in the Mid-Continent and ArkLaTex regions.
Bright Horizon’s management team has over a century and a half of experience finding, acquiring, and developing oil and gas properties in multiple basins. The company will leverage this knowledge and recent advances in drilling and completion techniques to maximize the value of properties it acquires.
“There are abundant oil and natural gas investment projects in the U.S. with considerable upside potential which, through today’s technologies and our team’s years of industry expertise, can be significantly enhanced,” said Bright Horizon Resources Chief Executive Officer Dudley Viles.
A key player with private E&P company Samson Resources, Viles has nearly 30 years of industry experience. At Samson he last served as Executive Vice President and was responsible for many of the company’s E&P activities, including prospect generation, capital allocation, leasing and drilling programs, acquisitions, and operations in addition to being a member of its executive team.
Joining Viles on the company’s management team are other former Samson employees including: Vice President of Land and Business Development Doug Black, Vice President of Geology and Geophysics David R. Clupper, Vice President of Operations and Engineering Carl Burgman and Chief Financial Officer Craig Loseke.
“The Bright Horizon management team combines a proven track record of success with industry expertise that only comes from operating in numerous regions with many different types of projects and plays,” said Carl Tricoli, Co-President and Managing Partner of Denham Capital. “We are excited to partner with Dudley and his team and confident they’ll grow the company into a highly successful, independent E&P company.”