TPH Partners Closes Laurel Mountain Energy Investment
TPH Partners, a middle market energy private equity funds manager, has partnered with an accomplished management team led by Clark and David Nicklas to form Laurel Mountain Energy, an independent upstream company headquartered in Pittsburgh, PA. Laurel Mountain is focused on the acquisition and development of oil and gas properties across the Appalachian Basin, with a primary focus on the Marcellus, Upper Devonian and Utica formations in Western Pennsylvania.
Laurel Mountain is led by Clark Nicklas (CEO) and David Nicklas (president), a father-son team that has worked closely together for eleven years at Vista Resources, an independent oil and gas company that was founded by Clark Nicklas in 1987. Over the past 26 years, Vista has managed numerous development programs and has drilled over 1,000 wells, primarily in the Appalachian Basin. Additionally, Vista has been active and successful in assembling, developing and monetizing two distinct and sizable shale plays in the region.
“With decades of combined experience in the Appalachian Basin, Laurel Mountain intends to build a quality asset portfolio with exposure to natural gas and liquids across multiple productive horizons,” said Clark Nicklas, CEO of Laurel Mountain. “Each member of our team brings unique skills and local experiences to the table, and we are confident that the combined strength of the management team will open attractive avenues for growth. After extensive efforts to find a like-minded and capable capital partner, we are thrilled to be joining with TPH Partners and look forward to working together to build a valuable enterprise.”
George McCormick, managing partner of TPH Partners and a member of the Laurel Mountain board of managers added, “I couldn’t be more pleased to be making our first investment in the preeminent natural gas basin in the country in partnership with Clark, David and the entire Laurel Mountain team. Our initial focus on the western Pennsylvania Marcellus play is akin to operating in Clark and David’s backyard. They have amassed a stellar track record of value creation in the area, and are clearly professionals, and people, of the highest quality and character.”