INDIGO MINERALS ACQUIRES BRIDAS ENERGY (BEUSA) NW LA ACREAGE
Indigo Minerals Completes Capital Raise and Acquisition
April 28, 2016 08:03 AM Eastern Daylight Time businesswire.com
HOUSTON--(BUSINESS WIRE)--Indigo Minerals LLC (“Indigo” or the “Company”) announced today the completion of a $375 million equity capital raise and the acquisition of certain producing properties and undeveloped acreage in the core of the Cotton Valley and Haynesville plays from a private exploration and development company. Pro forma for the acquisition, Indigo holds approximately 160,000 net acres in Northwest Louisiana and East Texas in addition to a significant portfolio of minerals and leasehold interests across 15 states. Indigo is the tenth largest private producer of natural gas in the United States with year-end SEC proved reserves of 1.27 Tcf.
“We are grateful for the support of our new and existing investors and look forward to a fruitful partnership. The acquisition of these properties further enhances Indigo’s leading position in a world class natural gas basin, and presents an exciting opportunity for the Company, its employees and its investors”
The capital raise was led by Trilantic Capital Management L.P. (“Trilantic North America”), which invested $300 million in Indigo, in partnership with the Company’s existing investors, including the Martin Companies, L.L.C. (“Martin Companies”), Yorktown Partners LLC (“Yorktown”) and Ridgemont Equity Partners (“Ridgemont”), who together invested $75 million of additional equity in the Company.
“We are grateful for the support of our new and existing investors and look forward to a fruitful partnership. The acquisition of these properties further enhances Indigo’s leading position in a world class natural gas basin, and presents an exciting opportunity for the Company, its employees and its investors,” said Bill Pritchard, Indigo’s Chairman and CEO.
Indigo was advised by Jefferies LLC and Kirkland & Ellis LLP. Trilantic North America was advised by Latham & Watkins LLP. The Martin Companies were advised by their general counsel, Ray Brown. Yorktown was advised by Thompson & Knight LLP. Ridgemont was advised by Troutman Sanders LLP.
About Trilantic North America
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, energy and financial services sectors. To date, Trilantic North America's energy team has committed approximately $3.1 billion in capital across 22 energy investments. As of December 31, 2015, Trilantic North America currently manages four private equity funds with aggregate capital commitments of $5.7 billion. For more information, visit www.trilantic.com.
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Replies to This Discussion
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Permalink Reply by ray schmidt on -
Is this good or bad for mineral owners
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Permalink Reply by Skip Peel - Mineral Consultant on
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I think it is good. BEUSA drilled its last well over four years ago. I suspect that Indigo will drill CV wells in those BEUSA sections.
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Permalink Reply by ray schmidt on
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Who will do the haynesville wells?
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Permalink Reply by Skip Peel - Mineral Consultant on
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At some point I suspect Indigo would farm out the Haynesville zone. If they establish CV production they can hold the units until natural gas prices rebound in the future. Or they can participate in new HA wells drilled by other operating companies if any have an interest in drilling in this price environment.
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Permalink Reply by ray schmidt on
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Thank you sir!
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Permalink Reply by Skip Peel - Mineral Consultant on
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You're welcome, ray. The acquisition of the BEUSA acreage may actually make Indigo's NW LA holdings a more attractive acquisition opportunity for a larger E&P company in the future.
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Permalink Reply by Robert Griffin R on
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Skip, do you have any idea or a good guess about which NW La townships and individual sections are included in this new acquisition? Always enjoy your inputs. Thank you..
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Permalink Reply by Skip Peel - Mineral Consultant on
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Thanks, Robert. Bridas started drilling CV and HOSS wells a few years prior to the advent of the Haynesville Shale. Use this link to see their producing wells:
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellorg6?...
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Permalink Reply by Paul Butler on
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Check out the Trilantic Energy Client list:
ENERGY 
ANTERO RESOURCES CORPORATION is an E&P company focused on acquiring, developing and producing unconventional resources in the Appalachian Basin in West Virginia, Ohio and Pennsylvania, primarily targeting the Marcellus and the Utica Shale plays. 
ENDURING RESOURCES, LLC is an E&P company engaged in the acquisition, exploration and development of natural gas and oil in the United States, primarily in the Permian Basin in West Texas. 
FLUID DELIVERY SOLUTIONS LLC is an oilfield water management company primarily engaged in fresh water transfer and storage in premier oil and gas basins, including the Marcellus, Utica, Permian, Eagle Ford, Eaglebine and Niobrara.
TEMPLAR ENERGY LLC is an Oklahoma City-based exploration and production company focused on the acquisition and development of oil and gas assets in the Anadarko Basin in the Texas Panhandle and Western Oklahoma. 
TRAIL RIDGE ENERGY PARTNERS II LLC is a Texas-based exploration and production company targeting emerging oil resource plays in the Permian Basin in West Texas. TRP ENERGY LLC is an exploration and production company seeking to acquire and finance the development of direct, non-operated working interests in oil and gas assets. TRP’s strategy will focus on acquiring discrete, delineated non-operated positions in premier onshore plays in the United States.
VELVET ENERGY LTD. is a Calgary, Alberta-based exploration and production company focused on acquiring, exploring for and developing oil and liquids-rich natural gas assets in the Western Canadian Sedimentary Basin. 
WARD ENERGY PARTNERS is an E&P company focused on the acquisition and development of oil and natural gas resources in various basins in Oklahoma and Eastern Colorado.
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Permalink Reply by Skip Peel - Mineral Consultant on
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That didn't take long. Indigo applies for 4 HA Alt HC well spacing in Bethany-Longstreet and Grand Cane fields.
http://ucmwww.dnr.state.la.us/ucmsearch_070611/UCMRedir.aspx?url=ht...
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Permalink Reply by Paul Butler on
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Desoto Parish?
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Permalink Reply by ray schmidt on
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Yes
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