Exit: ArcLight sells LOGOS II to North Hudson for $402m

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[Context: On June 2, ArcLight Capital exited its investment in LOGOS Resources II in a sale to $402 million to North Hudson Resource Partners. LOGOS holds 230,000 net acres in the San Juan Basin with 106 million cubic feet equivalent of production. Further details, advisors and related links are below.]


LOGOS RESOURCES  | ARCLIGHT  | NORTH HUDSON RESOURCE PARTNERS 

North Hudson Resource Partners Acquires LOGOS Resources

HOUSTON and FARMINGTON, N.M., June 2, 2022 /PRNewswire/ — North Hudson Resource Partners LP and its affiliated funds (“North Hudson”), in partnership with the management team of LOGOS Resources II, LLC (“LOGOS”), announced that it has acquired LOGOS from affiliates of ArcLight Capital Partners, LLC (“ArcLight”) for approximately $402 million. LOGOS’ assets include over 230,000 net acres in the San Juan Basin, current net production of 106 MMcfe per day, and an extensive inventory of drilling locations in the core of the prolific Mancos Shale and Gallup oil play. LOGOS recently commenced its 2022 drilling program and anticipates increasing net production to approximately 130 MMcfe per day by year end.

LOGOS will continue to be led by its existing management team, including its CEO Jay Paul McWilliams. Management is comprised of San Juan Basin veterans, collectively bringing more than 100 years of regional drilling and operating experience as well as an extensive track record of community interaction and environmental stewardship.

North Hudson Acquires LOGOS Resources

“We are excited to partner with North Hudson and will use our new resources to accelerate the development of our Mancos and Gallup reserve base following the success of our 2021 horizontal drilling program,” said Jay Paul. “Our operating and development track record, basin-leading ESG programs, and financial and strategic support provided by North Hudson, place LOGOS in an excellent position to execute on the next phase of value creation.”

“We are very pleased to have the opportunity to work with Jay Paul and the LOGOS team” added Mark Bisso, Managing Partner of North Hudson. “LOGOS presents a significant opportunity for our investors given the Company’s strong management team, significant and stable production base, and expansive undeveloped resource base.”

Kirkland & Ellis and Skadden served as legal counsel for North Hudson.

About North Hudson

North Hudson Resource Partners LP is a Houston-based energy investment firm focused on opportunistic upstream and midstream energy investments in North America. With over $850 million of assets under management, North Hudson’s current portfolio comprises both non-operated and operated oil and gas assets. Its current portfolio includes interests in over 4,500 wells primarily located in the Permian Basin, DJ Basin, San Juan Basin, and Haynesville Shale.

About LOGOS

Continuing more than a decade of proven success in the San Juan Basin of Northwest New Mexico, LOGOS is a privately held natural gas and oil company focused on operation of wells producing approximately 106 MMcfe/day and development of more than 230,000 net acres, including a contiguous, operated position spanning ~55,000 gross acres in the heart of the Mancos Shale.

About ArcLight

ArcLight Capital Partners, LLC (ArcLight) is one of North America’s leading energy infrastructure firms, helping pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $25 billion in 117 transactions since inception. Based in Boston, the firm’s investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists, as well as the firm’s 1,500-person asset management affiliate.

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