Morgan Stanley Energy Partners and Presidio Petroleum Announce Strategic Partnership
Investment funds managed by Morgan Stanley Energy Partners
(collectively, “MSEP”), part of Morgan Stanley Investment Management,
and Fort Worth, Texas-based Presidio Investment Holdings LLC (“Presidio
Petroleum” or the “Company”) announced today a strategic partnership
whereby MSEP has made a majority equity investment in Presidio Petroleum
to facilitate the acquisition from Midstates Petroleum Company Inc.
(NYSE: MPO) of oil and natural gas properties in the western Anadarko
Basin of Texas and Oklahoma and to support the growth of the Company's
exploration and production (“E&P”) business in the United States.
Presidio Petroleum is a leading oil and gas efficiency company founded
by Chris Hammack and Will Ulrich to acquire, operate, and optimize
producing oil and gas properties through best-in-class operations and
targeted development of proved reserves in established U.S. onshore
basins. The partnership with MSEP provides the Company with additional
resources to potentially expand Presidio Petroleum's asset base in
support of its operationally-focused strategy. Messrs, Hammack and
Ulrich have a successful operating track record spanning multiple E&P
companies prior to the establishment of Presidio Petroleum and lead a
talented executive team with significant technical and operational
expertise.
Chris Hammack, Co-Founder and Co-Chief Executive Officer of Presidio
Petroleum, said, “We are enthusiastic to be partnering with Morgan
Stanley Energy Partners in support of our vision of building an
industry-leading operator of overlooked, developed oil and gas assets.
We believe our relationship with MSEP will accelerate the growth of
Presidio's asset base across multiple basins where the Presidio
management team has a long history of efficient and responsible
operations.”
Will Ulrich, Co-Founder and Co-Chief Executive Officer of Presidio
Petroleum, added, “Presidio was founded upon the philosophy of
engineering efficiency. Our competitive advantage allows us to unlock
the value of acquired oil and gas reserves through leading operational
practices, modern development technologies, and the advancement and use
of the digital oilfield. We are pleased to have a partner in Morgan
Stanley Energy Partners that shares our philosophy and look forward to
the collaboration as we pursue multiple opportunities to grow the
business.”
Robert Lee, Managing Director of Morgan Stanley Energy Partners, said,
“We're excited to be investing alongside our management partners at
Presidio Petroleum and look forward to shared success in the years ahead
as we continue to support their differentiated strategy for the
business.” John Moon, Managing Director and Head of Morgan Stanley
Energy Partners, added, “Chris Hammack and Will Ulrich bring
best-in-class management talent and operating experience to this
strategy, and we're delighted to be their partners in this very exciting
business.”
About Presidio Petroleum
Headquartered in Fort Worth, Texas, Presidio Petroleum is a leading oil
and gas efficiency company with assets located in the western Anadarko
Basin of Texas and Oklahoma. For further information about Presidio
Petroleum, please visit www.presidiopetroleum.com.
About Morgan Stanley Energy Partners
Morgan Stanley Energy Partners, the energy-focused private equity
business of Morgan Stanley Investment Management, is a leading energy
private equity platform that makes privately negotiated equity and
equity-related investments in energy companies located primarily in
North America. Morgan Stanley Energy Partners pursues a differentiated
investment strategy, focused on the buyout and build-up of strategically
attractive, established energy businesses across the energy value chain
in partnership with world-class management teams. For further
information about Morgan Stanley Energy Partners, please visit www.morganstanley.com/im/energypartners.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment
advisory affiliates, has more than 600 investment professionals around
the world and $469 billion in assets under management or supervision as
of March 31, 2018. Morgan Stanley Investment Management strives to
provide outstanding long-term investment performance, service, and a
comprehensive suite of investment management solutions to a diverse
client base, which includes governments, institutions, corporations, and
individuals worldwide.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm
providing investment banking, securities, wealth management, and
investment management services. With offices in more than 41 countries,
the Firm's employees serve clients worldwide including corporations,
governments, institutions, and individuals. For further information
about Morgan Stanley, please visit www.morganstanley.com.
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