DJR Energy, LLC (“DJR” or the “Company”) has agreed to acquire Encana
Corporation’s (“Encana”) San Juan Basin assets. The pending acquisition
includes approximately 182,000 net acres, and, when combined with DJR’s
existing assets, the Company will have a total of over 350,000 net acres
focused in the oil window of the San Juan Basin. At close of the pending
acquisition, DJR will have production of over 6,000 barrels of oil
equivalent per day and hold an inventory of over 1,100 high value
drilling locations boasting breakevens competitive with other premier
oil basins.
“Our entire management team is very excited to acquire this world class
asset from Encana, who has been a fantastic operator. We are now poised
to become a dominant player in the San Juan Basin as we combine their
asset with our existing footprint and focus our efforts on further
developing our acreage,” said Dave Lehman, President and CEO at DJR.
“We at Trilantic North America are thrilled to be partners with Dave and
the exceptional team at DJR. This investment combines a world class
asset with a world class management team. We are excited to further
unlock the potential of the San Juan Basin,” commented Glenn Jacobson,
Partner of Trilantic North America.
Latham & Watkins LLP and Davis Polk & Wardwell LLP acted as legal
advisors to DJR and Trilantic North America.
About DJR Energy
DJR is an oil and gas exploration and production company formed in April
2017 by Dave Lehman and funded by Trilantic Capital Management L.P.
(“Trilantic North America”), Waveland Energy Partners and Global Energy
Capital. Since 2002, the DJR Energy management team has delivered
exceptional returns to investors via the successful creation and sale of
two companies in the DJ Basin of Colorado (DJ Resources LP and DJ
Resources LLC). With DJR Energy, LLC, this highly talented management
team has turned their attention to the San Juan Basin of northern New
Mexico. For more information, visit www.djrllc.com.
About Trilantic North America
Trilantic North America is a private equity firm focused on control and
significant minority investments in North America. Trilantic North
America’s primary investment focus is in the business services,
consumer, and energy sectors. Trilantic North America currently manages
six private equity fund families with aggregate capital commitments of
$9.0 billion. To date, Trilantic North America's energy team has
committed approximately $4.1 billion in capital across 27 energy
investments. For more information, visit www.trilanticnorthamerica.com.
About Waveland Energy Partners
Founded in 2000, Waveland Energy Partners LLC is a private equity firm
focused on the upstream oil and gas industry. Waveland’s investments are
in some of the most prolific basins in the U.S.: Permian Basin in West
Texas, Anadarko Basin in western Oklahoma, the Williston Basin in North
Dakota and the San Juan Basin in northwestern New Mexico. For more
information on Waveland, visit www.wavelandgroup.com.
About Global Energy Capital
Global Energy Capital, based in Houston, is a private equity firm
focused on investing growth capital in dynamic energy companies. GEC has
successfully partnered with management teams to grow companies across
oil and gas producing markets globally. For more information on Global
Energy Capital, visit www.globalenergycapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181001005498/en/
Copyright Business Wire 2018
Source: Business Wire
(October 1, 2018 - 8:07 AM EDT)
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