Canyon Creek Energy - Arkoma, LLC (CCEA) announced that it has partnered with an investor group, led by Fort Worth-based Vortus Investment Advisors, LLC (Vortus), which also includes management and other private industry investors. Based in Tulsa, Oklahoma, CCEA currently focuses on acquiring, leasing and developing oil and natural gas assets in Oklahoma where it has a lengthy and successful development track record.
This is the third successful startup for the Canyon Creek brand which has been active in Oklahoma since 2012. Canyon Creek is led by President and CEO R. Luke Essman along with an experienced management team that collectively has been in leadership roles in 10 E&P startups in their career. Prior to forming CCEA, Essman co-founded Canyon Creek Resources and Canyon Creek Energy both Mid-Continent focused E&P companies based in Tulsa, Oklahoma.
Jeffrey Miller and Brian Crumley, the Managing Partners at Vortus commented, "Canyon Creek has built an impressive team with a successful track record operating in the Arkoma Basin. This experience has enabled them to build a deep technical knowledge base of the area, which they have leveraged in building their asset. We are excited about the future for this partnership and to begin development of this low cost asset that offers attractive returns in today's environment.
The CCEA management team has a unique ability to identify and to establish early stage resource plays in Oklahoma. The team's technical work during the emergence of the Mississippian Lime, SCOOP, STACK and now Arkoma STACK has provided transformative results and exceptional returns to their investors.
R. Luke Essman commented, "Our company is uniquely positioned to use our experience to capitalize on emerging development targets. After establishing a partnership with our investors, under the leadership of Vortus, we now have the additional intellectual capital and financial support we need to propel our company's growth."
About Canyon Creek Energy
Canyon Creek Energy - Arkoma, LLC is a Tulsa, Oklahoma-based oil and natural gas company primarily focused on exploiting natural resources in Oklahoma. CCEA is managed by an affiliate Canyon Creek Energy Operating, LLC, which is led by President and CEO, R. Luke Essman; Vice-President and Chief Financial Officer, James R. McCoy; Vice-President of Geology, Jennifer Kessler; Vice-President of Engineering, C. Daniel Jacobs; and Vice-President of Land, Stephen McNamara, Jr. For more information, please visit www.canyoncreekenergy.com.
About Vortus Investments
Vortus Investment Advisors is a Fort Worth-based private equity firm focused on the lower to middle market upstream energy industry in North America. Vortus has an asset-based investment strategy, targeting privately negotiated transactions in the lower to middle market requiring approximately $50 million to $75 million of equity capital in partnership with successful owner/operators. For additional information, visit www.vortus.com.