Peak 10 Energy Secures $500 Million Acquisition Facility from U.S. Bank
Houston-based Peak 10 Energy has established a $500 million acquisition finance facility with U.S. Bank, N.A. to fund the consolidation of oil and gas assets across the United States. The capital is specifically earmarked for acquiring proved developed producing (PDP) asset packages that offer stable and predictable cash flows. The financing structure is designed to facilitate future issuances of asset-backed securities (ABS), aiming to optimize the company's long-term cost of capital. This strategic move allows Peak 10, a portfolio company of Legacy Star Capital Partners, to scale its acquisition activities following twelve successful transactions since its founding in 2023.
Tickers: $USB
Topics: Acquisition Facility Asset-Backed Securities Oil and Gas Strategic Partnership