Zavanna, LLC has announced an equity investment from Carnelian Energy Capital Management to recapitalize its operations and fund development in the Williston Basin.

Target Information

Zavanna, LLC, founded in 1994 by Bill Coleman, is a Denver-based independent exploration and production company specializing in the energy sector. Under the leadership of Chief Executive Officer David Hodges and Chief Financial Officer Matt Ott for over a decade, Zavanna has built a significant asset portfolio, boasting over 150 contiguous drilling locations within the Bakken and Three Forks formations. Both management and founder Coleman retain substantial ownership stakes, affirming their commitment to the company's growth and success.

The firm operates primarily in the Williston Basin, an area known for its rich oil reserves and productive drilling opportunities. The recent equity investment from Carnelian Energy Capital Management will enable Zavanna to recapitalize its operations, supporting further development across its extensive asset base.

Industry Overview in the United States

The energy industry in the United States continues to experience significant transformations, driven by advancements in extraction technologies and an increasing demand for domestic oil and gas resou