Global Leader in International Oil and Gas Industry News

posted in:

  • Home>
  • Oil & Gas News
  • >
  • North America,
  • >
  • American Energy - Woodford, LLC raises $680 million to acquire a central northern Oklahoma Woodford Shale leasehold position of up to 200,000 net acre

American Energy - Woodford, LLC raises $680 million to acquire a central northern Oklahoma Woodford Shale leasehold position of up to 200,000 net acre

Tuesday, Feb 25, 2014

OKLAHOMA CITY, Feb. 24, 2014 /PRNewswire/ -- American Energy - Woodford, LLC (AEW), an affiliate of American Energy Partners, LP (AEP-LP), announced today that it has raised $500 million in equity commitments and secured $180 million in bank borrowings to pursue a business plan focused on the Woodford Shale/Mississippi Lime combination play in central northern Oklahoma (an area AEW has named the "CNOW play").

AEW's exclusive private equity investor is The Energy & Minerals Group (EMG) and additional equity commitments have been provided by AEW management and others. EMG manages a family of funds that invest in the energy and minerals sectors and have over $8.4 billion of assets under management. AEW's bank credit facility is led by Texas Capital Bank.

Financing proceeds will initially be used to acquire approximately 120,000 net acres of leasehold and approximately 6,000 net bbls of oil equivalent daily production in the CNOW play with the goal of establishing a leasehold position of up to 200,000 net acres over time.

AEW is acquiring the assets from four sellers:  Calyx Energy, LLC; Calyx Energy II, LLC; Liberty Energy, LLC; and Truevine Operating, LLC.  Calyx Energy, LLC and Calyx Energy II, LLC were both backed by the Los Angeles-based Kayne Anderson Energy Funds and Liberty Energy, LLC is managed by Boston-based Old Ironsides Energy.

Commercial Law Group and Andrews Kurth LLP provided legal representation to AEW and Baker Botts L.L.P. provided legal representation to EMG.

About American Energy Partners, LP:

American Energy Partners, LP was founded by Aubrey K. McClendon in April 2013 to capitalize on opportunities available in unconventional resource plays onshore in the U.S.  For additional information, please visit www.americanenergypartners.com.

About The Energy & Minerals Group:

The Energy & Minerals Group is the management company for a series of specialized private equity funds. Headquartered in Houston, EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $8.4 billion of total investor commitments (including co-investments) with approximately $5.2 billion allocated across the energy sector since inception. EMG is wholly owned by the management team of EMG.  For additional information, please visit www.emgtx.com.

About Texas Capital Bank:

Texas Capital Bank is a commercial bank that delivers highly personalized financial services to businesses and individuals. Headquartered in Dallas, the Bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio. It is the primary subsidiary of Texas Capital Bancshares, Inc. (NASDAQ: TCBI), which is included in the Russell 2000® Index and the S&P SmallCap 600. For more information, visit www.texascapitalbank.com.

SOURCE American Energy Partners, LP

To access over 3,500 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

  • Home>
  • Oil & Gas News
  • >
  • North America,
  • >
  • American Energy - Woodford, LLC raises $680 million to acquire a central northern Oklahoma Woodford Shale leasehold position of up to 200,000 net acre

Other Oil & Gas News

Aquaterra Energy wins Premier Oil Catcher Drill Centre Template contract 23-04-2014
Claxton’s camera upgrade puts crane safety in the picture 23-04-2014
Elk acquires the Singleton Unit in Nebraska 23-04-2014
Longreach prepares to drill into target Liassic formation with Kamar-1 well in Morocco 23-04-2014
Chevron unveils PitPack motor oil dispensing system 23-04-2014
Farstad Shipping ASA - charter agreements 23-04-2014
Prysmian, € 30 m contract in Abu Dhabi 23-04-2014
Halliburton to build drilling, testing and training facility in Texas 23-04-2014
SEACON (europe) Ltd Receives A Queen’s Award for Enterprise in International Trade 23-04-2014
EnerJex Resources announces Niobrara operations update and development plans 23-04-2014