STAMFORD, Conn., Aug. 19, 2013 /PRNewswire/ -- Freepoint Commodities LLC ("Freepoint") today announced that its subsidiary Commerce Oil LLC, together with affiliates of Apollo Global Management, LLC and Summit Partners Credit Advisors, L.P., closed a transaction to provide more than $110 million of acquisition and redevelopment capital to Whistler Energy II, LLC ("Whistler"). This financing enabled Whistler to acquire 100 percent of the working interests in two oil and natural gas producing blocks in the Gulf of Mexico (Green Canyon 18 & 60) from an ExxonMobil affiliate (NYSE: XOM) and W&T Offshore, Inc. (NYSE: WTI). Whistler additionally acquired the GC 18 offshore production platform in the transaction. Committed funding by Freepoint will also finance the field redevelopment program to be carried out by Whistler's veteran offshore oil and gas management team led by CEO Scott Frankel. The GC 18 platform is situated 150 miles offshore Louisiana in 750 feet of water. Historic production rates peaked at 30,000 barrels per day. Freepoint has the right to serve as the physical offtaker of existing and future oil and natural gas production from the platform. This investment, like Freepoint's earlier acquisition of natural gas wells in Wyoming, reflects Freepoint's strategy to invest in hydrocarbon producing assets. "This transaction is another example of how Freepoint is well positioned to provide both financing and physical trading capabilities to the upstream energy sector," said Brian Cumming, Managing Director and Head of Structured Finance for Freepoint. "I view this partnership as a perfect opportunity to redevelop a world-class asset with our new partners," said Scott Frankel, CEO of Whistler. Evercore acted as Freepoint's exclusive financial advisor for this transaction. Sutherland Asbill & Brennan LLP acted as Freepoint's legal advisor.