This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

CLG Energy Finance, LLC Announces $350M Facility With ERG Resources, L.L.C.

PLANO, Texas, Feb. 4, 2013 /PRNewswire/ -- CLG Energy Finance, LLC, an affiliate of Beal Bank focused on financing opportunities in the energy industry, announces a new financing with ERG Resources, L.L.C. ("ERG").  

Jonathan Shepko, a Director with CLG Energy Finance, said, "The ERG financing provides the proven management team of ERG with the funding to continue the successful development of its substantial asset base in Southern California."

ERG will use the proceeds from the debt facility primarily to refinance debt and to fund capital expenditure requirements in its Cat Canyon field.  This facility also includes an accordion feature that would provide ERG with up to $450 million of gross loan proceeds, funded at the lender's discretion. 

The ERG financing confirms CLG's continued commitment to lending in the oil and gas sector. 

Owen Hill, also a Director with CLG Energy Finance, added, "We focus on providing acquisition, refinancing and development capital for solid assets supported by strong management.  The ERG facility exemplifies our focus and highlights our interest in expanding facilities as an asset base grows."

CLG Energy Finance, LLC is a division of CLG Hedge Fund, LLC, an affiliate of Beal Bank , a multi-billion dollar private financial institution. CLG Energy seeks to make direct investments in energy and energy-related companies, with particular emphasis on debt investments in the upstream oil and gas sector.  CLG Energy considers both traditional senior-secured structures as well as one-off, structured secured investments at the project or corporate level and will consider investments ranging from $20M to $500M+.

For additional information, please contact Jonathan Shepko at 972-464-2704 or jshepko@clgenergyfinance.com or Owen Hill at 972-464-2705 or ohill@clgenergyfinance.com .

SOURCE CLG Energy Finance

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,399.90 -24.95 -0.15%
S&P 500 1,862.50 +0.19 0.01%
NASDAQ 4,087.6510 +1.4260 0.03%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs