May 2012, Vol. 239 No. 5

Projects

Pelican Energy Partners To Invest In Energy Services Middle Market

Pelican Energy Partners LP, a specialized private equity fund, has completed its initial closing by raising $103.6 million in investment capital.

Pelican is led by a group of experienced senior energy executives and says it is focused on strategic investments in smaller but highly promising energy service companies. Investors include current and former energy service company owners, CEOs and other top officers. 

Pelican says it is ready to begin making targeted equity investments of $5-15 million in energy product and service companies. The Limited Partner group contains more than 40 current or former top executives of energy exploration, production and service companies. They are combining their capital with the General Partners, who are contributing 20% of the total investment capital. 

Managing Partner Mike Scott has 15 years of private equity and energy industry experience, as a principal in a $650 million private equity fund, as chairman of the board of NCS Energy Services and as a board member of Southeast Directional Drilling and M&M Pipeline. Other notable members of Pelican’s General Partner include Philip Burguières, chairman emeritus and former chairman and CEO of Weatherford International Ltd. He is a director at FMC Technologies Inc. and Newfield Exploration Co.; and John Huff, chairman of the board of Oceaneering International, Inc.