New E&P firm secures $250 million investment

By OGJ editors
-- Gulf Coast Energy Resources LLC, Houston, has received commitments for investments totaling as much as $250 million for exploration and development on the Texas and Louisiana Gulf Coast.

The private company was formed this year with a strategy that it describes as focused on “the exploration of proven hydrocarbon trends utilizing advanced seismic technology augmented by the acquisition and exploitation of producing fields.”

The financial commitment came from private-equity firm Warburg Pincus and company managers.

Kevin Guilbeau is president and chief executive officer of GCER. Other managers are C. Gordon Lindsey, vice-president, exploration and business development; Manual Mondragon, chief financial officer; Steve Longdon, vice-president, engineering; and Jay Parker, exploration manager.

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