Daily News: April 14, 2015

Citrine Energy Capital Management Launches

Citrine Energy Capital Management, a newly-formed energy private equity firm with offices in Houston and Dallas, TX, announced its formal launch. Founded by former senior Natural Gas Partners (NGP) executives William Quinn, Tomas Ackerman and Daniel Goodman, Citrine will focus on small and middle market investments requiring between $25 million to $75 million of equity capital in the North American upstream, midstream, and oilfield services sectors.

Prior to his departure from NGP, Quinn served as a managing partner of the firm where he oversaw the firm’s investment activities. Though all of Citrine’s executives bring a deep experience in the upstream sector, Tomas Ackerman, a former managing director and head of NGP’s Houston office, brings a specific expertise and network in the midstream sector while Daniel Goodman, formerly a principal in NGP’s Houston office, was instrumentally involved in NGP’s oilfield services investments. David Levinson has also joined Citrine as a member of the senior leadership team, where he will serve as chief operating officer.

Citrine also entered into a strategic investment agreement with NGP. Quinn commented on Citrine’s relationship with NGP, “It’s an honor to continue working with our friends and former colleagues in a way that is value-added for our management team partners and bolsters investment opportunities and capabilities for both NGP and Citrine.”