New York-based private-equity firm Trilantic Capital Partners and Enid, Okla.-based Ward Petroleum Corp. formed Ward Energy Partners, an exploration and production company, through a partnership, Trilantic said July 24.
Ward Energy Partners will operate across Oklahoma and eastern Colorado, Trilantic said.
The transaction’s financial terms were not disclosed, the company added.
“We are delighted to work with Trilantic in this venture. Their deep experience in creating value within the energy sector will be a great asset to us as we look to grow Ward Energy Partners,”said Bill Ward, who will be CEO of the new company. Ward, who is currently president and CEO of Ward Petroleum, has more than 30 years’ experience as a petroleum engineer in the Midcontinent, Trilantic said.“We see great potential in each of these liquid-rich basins and are excited to capitalize on the opportunities ahead of us,” he said.
Equity was committed to the new company by Trilantic North America, Ward and the management team, the company said, noting that it will support the development of Ward Energy Partners’ existing leasehold, and support future acquisitions.
“Ward is a great example of what we look for in a partner,” said Christopher Manning, a partner at Trilantic.
“As a family-owned and operated company with a stellar 50-year operating history, we are confident in the team’s ability to identify and successfully develop oil and gas resources in its target geographies,” he added.
Trilantic has now committed in excess of $2.5 billion to the energy sector.
Trilantic was represented by Houston-based Vinson & Elkins LLP, while Tulsa, Okla.-based Hall Estill represented Ward Petroleum, the company said.Recommended Reading
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