Alta Mar Energy, an upstream company focused on non-operated oil and gas investments in the U.S. Gulf of Mexico, on Tuesday announced the closing of an equity commitment from investment funds managed by Carnelian Energy Capital Management, L.P. (“Carnelian”).
Alta Mar, a Houston-based company led by Will Sims, Thomas Kastner, Rowland Burno and Ben Heller, said Tuesday it would leverage the team’s decades of diverse offshore experience to invest alongside best-in-class operators in exploration, development, and production activities in the U.S. Gulf of Mexico.
Before forming Alta Mar, the team held leadership roles at Kosmos Energy, Nexen, and Barclays.
“The Gulf of Mexico is a crucial component of global energy supply. The last decade has yielded tremendous innovations in subsurface imaging and extraction technologies, making the basin ripe for new capital, teams and ideas to perpetuate this important resource.
The Alta Mar team has the right capabilities, experience and relationships to capitalize on this compelling opportunity,” said Dillon MacDonald, a Carnelian Principal.
“We are excited to partner with Carnelian to build a substantial portfolio in the Gulf of Mexico,” added Will Sims, Alta Mar’s Chief Executive Officer. “With a flexible mandate and significant financial backing, Alta Mar is ideally positioned to be a value-added, full-cycle partner for operators across this advantaged basin.”