Carrier Energy Partners, LLC Exits Delaware Basin
April 25, 2017 02:23 PM Eastern Daylight Time
HOUSTON & NEW YORK--(BUSINESS WIRE)--Carrier Energy Partners, LLC (“Carrier”) has closed two divestitures in the Delaware Basin comprised of over 2,000 net boe/d as of January 1st and approximately 8,900 net acres. On March 8, 2017, Carrier closed the sale of a 49% working interest in Culberson County, TX, to a private buyer. The sale included production and approximately 4,300 net acres operated by Panther Energy Company II, LLC (“Panther”). Subsequently on March 10, 2017, Carrier closed the sale of its 49% working interest in certain AMIs in Reeves County, TX, also operated by Panther, which included production and approximately 4,600 net acres. The latter sale was part of a previously announced $775 million acquisition by WPX Energy (NYSE: WPX) that also included acreage and production in Loving, Ward, and Winkler counties.
The divestitures are the first for Carrier, which was backed by Riverstone Holdings, LLC (“Riverstone”) in September 2013, and follows a series of acquisitions made from 2014 to 2016 by Carrier and Carrier Energy Partners II, LLC (“Carrier II”). Carrier II was formed in May 2015 and has an equity commitment of $400 million from Riverstone. Its existing assets include an approximate 30% working interest in a 65,000 acre joint venture in the Southern Midland Basin with PT Petroleum and Henry Resources as well as an approximate 13% working interest in the Eagle Ford Sugarloaf AMI operated by Marathon Oil in Karnes County, Texas.
About Carrier Energy Partners, LLC
Carrier Energy Partners is a private oil and gas company led by Mark Clemans (CEO) and Christina Chen (CFO) focused on the acquisition and exploitation of upstream assets. Backed with an equity commitment from Riverstone Holdings LLC, its primary objective is to partner with select operators that are developing unconventional reservoirs in North America. For more information, visit www.carrierenergy.com.
About Riverstone Holdings LLC
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $36 billion of capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power, and renewable sectors of the energy industry. With offices in New York, London, Houston, and Mexico City, Riverstone has committed over $35 billion to more than 130 investments in North America, South America, Europe, Africa, Asia, and Australia. For more information, visit www.riverstonellc.com.
For Carrier Energy Partners LLC
Ryan Poole, 713-234-7631
For Riverstone Holdings LLC
Kekst and Company
Jeffery Taufield, 212-521-4800