Merit Energy: Texas Private Equity Firm Reserves $1 Billion For Oil & Gas Investments

Dallas-based private equity firm Merit Energy Co has set aside $1 billion, including $485 million in a just-closed fund, in dry powder through a strategy that targets mature oil-and-gas fields, the Wall Street Journal reports in an exclusive article. The company, which operates energy assets and manages investment funds, took just over seven months to raise its Merit Energy Partners L vehicle, which helped the company hit its goal of amassing about $1 billion of available capital. Merit's investment strategy focuses on conventional...