Pan Capital Management LP

Trinity Gas Storage, LLC ("Trinity") Secured $189 million in Funding for the Groundbreaking of its Natural Gas Storage Facility in East Texas: A Milestone for Energy Security and Electrical Reliability for Texas NEWS PROVIDED BY Trinity Gas Storage, LLC  08 Sep, 2023, 08:03 ET SHARE THIS ARTICLE     DALLAS, Sept. 8, 2023 /PRNewswire/ -- In a significant step towards bolstering energy security and ensuring a reliable electricity supply for Texas, Trinity is thrilled to announce the successful equity funding from Transition Equity Partners, LLC ("TEP"), along with debt financing led by Investec who acted as Joint Lead Arranger and Administrative Agent. The equity consortium includes Pan Capital Management, Abrdn, SailingStone Capital Partners LLC, and Rice Investment Group. This funding marks a crucial milestone in the development of Trinity's natural gas storage facility which is set to play a pivotal role in fortifying energy security across the region. The new natural gas storage facility, strategically located in the heart of Texas, will offer approximately 24 billion cubic feet (Bcf) of natural gas storage capacity in the initial phase of the project. Construction commences immediately and operations are slated to begin in mid-2024. "We are thrilled to commence construction on this much-needed storage facility," said Jim Goetz, CEO of Trinity. "Our team has worked tirelessly to get to this point, and we recognize the immense importance of this project which will enable Texas to better manage energy supply fluctuations, ensuring a stable source of power even during periods of peak demand and extreme weather events. We're grateful to partner with TEP, whose effectiveness in securing capital and assistance in development has been invaluable in making this storage project a reality." "This storage project represents a critical transitional component for the diverse energy portfolio needed in ERCOT," said Pat Eilers, Founder and Managing Partner of TEP. "As an investor focused on midstream energy infrastructure, we strongly believe in the role storage facilities play in enhancing reliable natural gas supply to the Texas market. We are excited to partner with the Trinity team, which has a strong track record of developing successful storage projects. This natural gas storage facility aligns perfectly with our commitment to advancing sustainable and resilient energy solutions." The Trinity storage facility will provide a buffer to balance supply and demand for natural gas, allowing continued service even during times of peak electricity demand. With its central location and multiple connections to existing pipeline infrastructure, Trinity is ideally positioned to support reliability across the entire state.

OneRock Energy Completes Acquisition of Northwoods Energy in Powder River Basin August 21, 2023 11:09 AM Eastern Daylight Time HOUSTON--(BUSINESS WIRE)--OneRock Energy Holdings, LLC (“OneRock”) today announced that it has completed its previously announced acquisition of Northwoods Management Company and certain related entities (collectively, “Northwoods”). Northwoods owns highly productive assets located in the Powder River Basin, producing approximately five thousand barrels of oil equivalent. The asset encompasses an extensive expanse of over 160,000 predominantly contiguous net acres of leasehold interests in Converse, Campbell and Johnson Counties in Wyoming. Willkie Farr & Gallagher LLP acted as legal advisor to OneRock. About OneRock Energy OneRock Energy Holdings is a Houston-based oil and gas private equity firm and the upstream investment arm of Pan Management. With a dedicated focus on identifying and seizing acquisition and development opportunities, OneRock is committed to fostering growth and unlocking the value of oil and gas assets. About Pan Management Established in 2013, Pan Management is an energy investment firm headquartered in Houston, Texas, with expertise spanning natural gas trading, upstream oil and gas investment and midstream oil and gas investment. The leadership team boasts decades of combined investment experience in the energy industry, overseeing a portfolio of over $2 billion of assets under management.

OneRock Energy, a Flagship Investment Vehicle Launched by Prominent Commodity Investors, Announces Acquisition of Northwoods Energy in Powder River Basin June 28, 2023 01:51 PM Eastern Daylight Time HOUSTON--(BUSINESS WIRE)--OneRock Energy Holdings, LLC (“OneRock”) today announced that it has entered into a definitive purchase agreement to acquire Northwoods Management Company and certain related entities (collectively, “Northwoods”). Northwoods owns highly productive assets located in the Powder River Basin, producing approximately five thousand barrels of oil equivalent. The asset encompasses an extensive expanse of over 160,000 predominantly contiguous net acres of leasehold interests in Converse, Campbell and Johnson Counties in Wyoming. The transaction remains subject to customary terms and conditions and is expected to close in the third quarter of 2023, with an effective date of June 1, 2023. “It represents a crucial component of our growth strategy into the E&P business, while concurrently expanding our commodity optionality and seamlessly aligning with Pan Management’s overarching investment strategy. We anticipate leveraging the OneRock platform to acquire further assets and strategically expand our footprint.” “We consider this acquisition to be a pivotal move for OneRock, solidifying our position with a robust presence in resource-rich unconventional plays,” stated Daniel Fan, Partner and Head of North American E&P Investments at Pan Management. “It represents a crucial component of our growth strategy into the E&P business, while concurrently expanding our commodity optionality and seamlessly aligning with Pan Management’s overarching investment strategy. We anticipate leveraging the OneRock platform to acquire further assets and strategically expand our footprint.” Willkie Farr & Gallagher LLP acted as legal advisor to OneRock. About OneRock Energy OneRock Energy Holdings is a Houston-based oil and gas private equity firm and the upstream investment arm of Pan Management. With a dedicated focus on identifying and seizing acquisition and development opportunities, OneRock is committed to fostering growth and unlocking the value of oil and gas assets. About Pan Management Established in 2013, Pan Management is an energy investment firm headquartered in Houston, Texas, with expertise spanning natural gas trading, upstream oil and gas investment and midstream oil and gas investment. The leadership team boasts decades of combined investment experience in the energy industry, overseeing a portfolio of over $2 billion of assets under management.