SLANT Energy, a startup exploration and production company with offices in Lafayette and Wichita Falls, Texas, has secured a $30 million equity commitment from Dallas-based Pearl Energy Investments.

 SLANT, which stands for South Louisiana and North Texas, will focus on developing shallow, conventional oil and gas fields in north Texas and the mid-continent regions. The mid-continent includes Louisiana. SLANT plans to drill new wells in established reservoirs and to purchase existing assets.

The company is led by three co-founders: Chief Executive Officer Stewart Stover III; Chief Financial Officer Thomas Saloom; and Executive Vice President of Land and Business Development Sean Gill. Stover and Saloom are from south Louisiana. Gill is from north Texas.

Founded in 2015, Pearl Energy Investments targets privately held, small- to middle-market companies. Pearl usually invests between $25 million and $75 million in exchange for ownership in upstream, midstream and oilfield service companies, but the company has made larger investments. In April, subsidiary Covey Park LLC announced it would pay $420 million to buy EP Energy’s leases in the Haynesville and Bossier shales in north Louisiana.