Key Takeaways
- • Peak 10 Energy, a portfolio company of Legacy Star Capital Partners, has secured an acquisition finance facility of up to $500 million from U.S. Bank to buy oil and gas asset packages across the U.S.
- • The facility primarily targets proved developed producing (PDP) properties and is structured to support later asset-backed securities (ABS) issuances as a long-term financing source.
- • Peak 10 CEO Kyle McQuire said the facility, alongside a commodity hedging relationship with U.S. Bank, gives the company capital to buy assets at greater scale.
- • Houston-based Peak 10, founded in 2023, holds operated, non-operated and mineral positions in U.S. onshore basins and has closed 12 acquisition and divestiture transactions.
Summary
Peak 10 Energy, a portfolio company of Legacy Star Capital Partners, has secured an acquisition finance facility of up to $500 million from U.S. Bank, according to the company's announcement. The facility will fund purchases of oil and gas asset packages across the United States, with a primary focus on proved developed producing properties. It is also structured to support later asset-backed securities issuances, positioning it as a long-term financing source for the company.
Peak 10 acquires and develops producing oil and gas properties, with an emphasis on long-life assets that generate steady cash flow. Based in Houston and founded in 2023, the company holds operated, non-operated and mineral positions in U.S. onshore basins. It has closed 12 acquisition and divestiture transactions to date.
Chief executive Kyle McQuire said the facility, together with a commodity hedging relationship with U.S. Bank, gives the company the capital needed to buy assets at greater scale.
Petrie Partners originated the transaction and served as financial advisor to Peak 10, with Baker Botts acting as legal counsel. Haynes Boone advised U.S. Bank on the deal.
Peak 10 acquires and develops producing oil and gas properties, with an emphasis on long-life assets that generate steady cash flow. Based in Houston and founded in 2023, the company holds operated, non-operated and mineral positions in U.S. onshore basins. It has closed 12 acquisition and divestiture transactions to date.
Chief executive Kyle McQuire said the facility, together with a commodity hedging relationship with U.S. Bank, gives the company the capital needed to buy assets at greater scale.
Petrie Partners originated the transaction and served as financial advisor to Peak 10, with Baker Botts acting as legal counsel. Haynes Boone advised U.S. Bank on the deal.
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