TPG Capital forms new venture to invest in oil and gas assets

"Petro Harvester" will focus on conventional exploration and production assets.

TPG Capital, a private investment firm, has formed a new venture, Petro Harvester Oil & Gas, to invest in oil and gas producing properties in North America.

Petro Harvester will initially focus on conventional exploration and production assets where it believes there are opportunities to drive increased production through operational focus, the company said.

Petro Harvester said that a wholly owned subsidiary has entered into an agreement to acquire long-life oil and gas properties located in Mississippi from Comstock Resources.

The purchase is expected to close prior to the year end and is subject to customary due diligence by Petro Harvester and certain closing conditions.

Houston-based Petro Harvester is an exploration and production company focused on acquiring and operating oil and gas producing properties.