Private investment firm Aethon Energy Management LLC and partner RedBird Capital Partners LLC acquired the Moneta Divide assets from Encana Oil & Gas (USA) Inc., RedBird said May 1 .
The low-risk, low-drilling-cost and long-reserve assets cover about 188,000 net acres in Wyoming’s Wind River Basin in the Wind River Basin.
Terms of the negotiated transaction were not disclosed. Encana Oil & Gas (USA) is a wholly owned subsidiary of Encana Corp. (ECA).
Gordon Huddleston, an Aethon partner, said, "Aethon has a legacy of operating in the Rockies. We are pleased to expand our holdings with these operated assets in the Wind River Basin and welcome 42 talented new employees to our team. The staff at Encana has been great to work with throughout this process. Additionally, we have enjoyed the opportunity to partner with RedBird on this transaction and look forward to working with them in the future."
Capital One Securities Inc., Crowley Fleck PLLP and Weil Gotshal & Manges LLP advised Aethon. Evercore and Gardere Wynne Sewell LLP advised RedBird.
Aethon Energy Management LLC is based in Dallas.
Principal investment firm RedBird Capital Partners LLC is based in New York.