High-profile Energy Marketers Launch New Firm

By Houston Business Journal

Two founders of Eagle Energy Partners I LP are teaming up to start a new Houston natural gas and power marketing company.

Chuck Watson and Griff Jones have formed Twin Eagle Resource Management LLC, which will focus on commodity management services, asset valuation and other energy services.

Houston energy veteran Watson will service as chairman, with Jones serving as president and CEO.

In addition to its launch this week, the company also announced several transactions.

Twin Eagle received an equity investment by Chesapeake Operating Inc., a subsidiary of Oklahoma City-based energy company Chesapeake Energy Corp. (NYSE: CHK). The company also executed a senior revolving credit facility from Paris-based bank BNP Paribas.

In addition, Twin Eagles said in a statement that it had acquired several wholesale power contracts and hired key personnel from Houston-based energy management company Fulcrum Power Services LP.

Eagle Energy Partners I LP was sold to Lehman Brothers in 2007.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/06/high-profile-energy-marketers-launch.html?ana=thestreet

Copyright bizjournals.com 2010

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