Fortress Announces Completes Acquisition of Limited Partner Interest in Red Rocks Energy Partners

Fortress Announces Completes Acquisition of Limited Partner Interest in Red Rocks Energy Partners
14.11.2016 07:15 am

Fortress Announces Completes Acquisition of Limited Partner Interest in Red Rocks Energy Partners

M&A Deals

Fortress Investment Group LLC (NYSE:FIG, “Fortress”) today announced that certain Fortress managed funds and accounts (“Fortress Credit Funds”) have acquired a limited partner interest in Red Rocks Energy Partners L.P. to own and develop oil and gas assets in over 7,200 acres in the SCOOP play in Grady, McClain, and Garvin Counties, Oklahoma.

Over the last 5 years funds within Fortress’ Credit business (“Fortress Credit”) have invested over $1.5 billion in both debt and equity across the power, renewables, midstream and upstream energy sectors, focused on opportunistic asset level investments. This transaction is the second significant equity investment in exploration and production since the commodity price downturn, following Fortress Credit’s $350 million partnership with IOG Capital, LP to provide drilling capital to high quality operators in the United States. For the Red Rocks transaction, Fortress Credit has partnered directly with a highly experienced operator, Red Rocks Resources LLC, to develop conventional and unconventional assets in an emerging area of the SCOOP. The acquired assets have significant current production, low-risk economic vertical locations and highly economic horizontal drilling opportunities in the prolific Woodford shale.

Related News

Gresham announces acquisition of Inforalgo to expand regulatory reporting capabilities

Gresham Technologies (Gresham), the leading fintech in reconciliations, banking integration and cash management solutions, has today announced the acquisition... Read more »

Nostra MSP acquires Brandon Global

Nostra, an independent, Irish owned and managed MSP company headquartered in Lucan, Co. Dublin has acquired Brandon Global IT for an... Read more »

Financial conglomerate SBI to acquire $30MM stake in digital asset firm B2C2

B2C2, the trading firm of choice in the institutional crypto markets, announced that SBI Financial Services (a subsidiary of SBI Holdings, "... Read more »

Rise in M&A predicted as retail banks navigate post-COVID crash, latest Kearney analysis reveals

Analysis from global consultancy partnership Kearney predicts a rise in mergers and... Read more »

MFS Africa Acquires Beyonic, Bringing Cross-Border Digital Payments to SMEs Throughout Africa and Beyond

Pan-African cross-border payments leader MFS Africa today announced that it has acquired ... Read more »

FIME expands testing & consultancy offering with the acquisition of CETECOM Payment activities in the U.S.

Payments testing and consultancy expert, ... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel