White Deer Energy To Invest $60 Million in PostRock Energy

White Deer Energy L.P. agreed to invest $60 million in PostRock Energy Corp. (Nasdaq: PSTR) in exchange for preferred stock and warrants. PostRock explores, develops and produces oil and natural gas primarily in the Cherokee Basin of Kansas and Oklahoma. It will use the funds to reduce its debt and to fund growth. White Deer is an energy-focused private equity firm. It set up a reserve of $30 million to potentially make additional investments in PostRock.

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