[Context: On April 17, Trilantic-backed Ward Energy announced the sale of its assets in Adams and Weld Counties, Colorado, for an undisclosed amount. Further details, advisors and related links are below.]
WARD ENERGY | TRILANTIC
Ward Energy Partners Sells DJ Basin Assets
FORT COLLINS, Colo.–April 17, 2018 –(BUSINESS WIRE)–Ward Energy Partners, LLC (“WEP”) today announced it has sold assets located in Adams and Weld Counties in Colorado to an undisclosed buyer. The assets are prospective for the Codell and Niobrara reservoirs in the Denver-Julesburg basin in Colorado.
“WEP has been a leading operator in the southern DJ Basin since formation in 2014, and we are pleased we have been able to demonstrate the tremendous potential in this exciting resource play. Because of the deep technical expertise and impressive execution by the WEP team, we have been able to build a world class asset in Colorado,” said Dave Stone, Chief Operating Officer at WEP.
“Our incredible team at WEP, our strong partnership with Trilantic North America and the industry reputation and legacy of Ward Petroleum Corporation have all been foundational to our success,” said Drew Deaton, VP Business Development at WEP.
“We at Trilantic North America would like to thank the entire WEP team for their hard work and dedication over the course of this investment,” commented Chris Manning, Managing Partner of Trilantic North America. “We would also like to thank Evercore for their great work in advising the company through this negotiated sale process.”
WEP is an oil and gas exploration and production company formed in July 2014 by Ward Petroleum Corporation, a diversified exploration and production company based in Oklahoma and Colorado, and Trilantic Capital Management L.P., a leading private equity firm based in New York and Texas.
Evercore acted as a financial advisor to WEP on the transaction. Vinson & Elkins LLP acted as legal advisor to WEP.
About Ward Petroleum Corporation
Founded over 50 years ago, Ward Petroleum Corporation (“Ward”) is a diversified exploration and production company currently focusing on the Anadarko Basin in Oklahoma and the DJ Basin in Colorado and Wyoming. Ward and its management team have discovered and developed significant oil and gas resources. Ward prides itself on creating value for its stakeholders through responsible development of America’s natural resources.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer and energy sectors. Trilantic North America currently manages six private equity funds with aggregate capital commitments of $7.9 billion. To date, Trilantic North America’s energy team has committed approximately $3.6 billion in capital across 26 energy investments.