[Context: On November 8, NGP announced an equity commitment to Massif Oil & Gas II to focus on the Powder River Basin. Further details and related links are below.]
Massif Oil & Gas II, LLC Announces Powder River Basin Partnership with NGP
HOUSTON–November 08, 2018–(BUSINESS WIRE)–Massif Oil & Gas II, LLC (“Massif II”) is pleased to announce it has partnered with NGP to form Massif II. Massif II will leverage its proprietary relationships and operational expertise to acquire and develop top-tier oil-weighted assets in the Powder River Basin.
The Bozeman, Montana based team is led by Barrett Frizzell (CEO), Adam Gollofon, (COO), Scott Sheehan (CFO), Brian Burdette (EVP, Subsurface) and Dave Thornquist (EVP, Land). Massif II’s management team previously served in the same roles at Massif Oil & Gas I.
Barrett Frizzell, CEO, commented, “Following our success in the Powder River Basin, we are excited to partner with NGP to build a company focused on creating significant value for its partners. The Massif II team believes our acquisition and development expertise, along with strong equity backing, will enable us to create value in today’s dynamic environment. The financial commitment and investment experience of NGP will enable us to pursue, develop and optimize proven oil and gas assets with a returns-driven focus.”
“NGP is excited and grateful to partner with Massif II, and our equity commitment reflects the confidence we have in their business plan,” said Patrick McWilliams, Partner at NGP. “We are thrilled to work with such an energetic, disciplined and skilled company and welcome them to the NGP family. With the management team’s strong historical track record in the Powder River Basin, technical skillset and industry relationships, we believe the company is well positioned to capitalize on the current market environment.”
Founded in 1988, NGP is a premier private equity firm in the natural resources industry with approximately $20 billion of cumulative equity commitments organized to make strategic investments in the energy and natural resources sectors.