Cotton Creek Capital Management announce the closing of its investment in Fort Worth, Texas-based, Terrace Energy, LLC. Terrace Energy is an oil and gas, exploration and production company concentrating on the acquisition of assets in North America. Currently the company is engaged in the acquisition and early development of properties in the East Texas Basin. Terrace's management team, many coming from large independents or publicly traded companies, has more than 70 years combined oil and gas experience.
Terrace is led by Casey Patterson, former Geological Manager of the Marcellus Shale for a large independent. Cotton Creek and Mr. Patterson formed Terrace in October 2010 and have been actively acquiring properties over the past year. With this closing, Terrace is pleased to announce the addition of Yorktown Partners, LLC as an investment partner with Terrace.
The transaction closed on February 16, 2012. Financial terms were not disclosed.
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