[Context: On October 5, Trilantic Capital-backed Ward Energy Partners announced the sale of assets prospective for the SCOOP to an undisclosed buyer. Further details and related links are below.]Ward Energy Partners Sells SCOOP and Hoxbar Assets
OKLAHOMA CITY–October 05–Ward Energy Partners, LLC (“WEP”) today announced it has sold assets located primarily in Stephens and Grady Counties in Oklahoma to an undisclosed buyer. The assets are prospective for the Woodford, Mississippian and Springer reservoirs in the SCOOP and Hoxbar oil trend. Pro forma for this sale, WEP will continue to own and operate assets in the STACK play in Oklahoma and the Denver-Julesburg basin in Colorado.
“Ward has been drilling wells in the SCOOP area of Oklahoma since the early 1980’s. It is a great area with a world class petroleum system, outstanding reservoir rock and stacked pays. I believe you will see continued improvements that will create significant value for the players,” said Bill Ward, President of Ward Energy Partners.
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.
RBC Richardson Barr 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 five private equity fund families with aggregate capital commitments of $6.3 billion. To date, Trilantic North America’s energy team has committed approximately $3.5 billion in capital across 25 energy investments.