Kohlberg Kravis Roberts, or better known as KKR, announced today that it had signed with EXCO Resources an Eagle Ford shale drilling partnership. EXCO Resources is a natural gas and oil production and exploration enterprise based in Dallas, Texas. The agreement represents KKR's fourth investment within its oil and gas drilling and development strategy and the private equity firm's seventh commitment in the Eagle Ford Shale. KKR's development drilling approach supplies capital to robust oil and gas operators by investing in its working interests.
"We are excited to be EXCO's acquisition and development partner in the Eagle Ford Shale, a basin where we have substantial prior experience. Led by EXCO's strong operating capabilities, we look forward to developing the drilling locations which hold significant resource potential and attractive economics," KKR Energy & Infrastructure business Global Head Marc Lipschultz explained.
KKR's Global Energy & Infrastructure unit, in line with its mission to serve as a flexible financial provider to the energy market, has investments across the whole energy supply chain around the world.
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