OneEnergy Partners II Holdings LLC acquired Midland, Texas-based Trainer Partners Ltd., which OneEnergy COO  Ahmad Salman described as “one of the last family-run oil and gas companies in the Permian Basin.”

As of the end of 2021, Trainer Partners owned one of the last independent portfolios of minerals, overrides and nonoperated working interests in North America, according to a joint company release.

Formed by CW Trainer, Trainer Partners and its predecessor entities began accumulating and operating assets in the Permian Basin in 1956. During that time, the Trainer name has become synonymous with partnership, integrity and trust as well as developing a reputation for being a partner of choice for many family-run and publicly traded operators in the basin, the joint release said.

“The OneEnergy team is grateful for the opportunity to continue the legacy of founder CW Trainer and the Trainer family as the third generation of oil and gas entrepreneurs to manage this company and its assets,” Salman commented in the joint release on Jan. 27.

According to the release, the boards of directors of both OneEnergy and Trainer Partners unanimously approved the acquisition of all the partnership interests of Trainer Partners by an affiliate of OneEnergy. The acquisition makes an affiliate of OneEnergy the general partner and controlling entity of Trainer Partners.

Terms of the transaction weren’t disclosed. The acquired Trainer Partners portfolio consisted of royalties and working interests across New Mexico’s Lea and Eddy counties; Gaines, Andrews, Hemphill and Midland counties in Texas; and Oklahoma’s Roger Mills County.

“The Trainer family would like to express its appreciation to the OneEnergy team for seamlessly executing a complex transaction over a compressed period,” commented Randall Mark Trainer, CEO, manager and president of Trainer Management LLC, the former general partner of Trainer Partners.

Based in Houston, OneEnergy Partners was formed in 2015 to pursue middle market acquisition and development opportunities in the North American energy space.

Prior to the launch in early 2019 of OneEnergy Partners II, OneEnergy assembled, developed and divested a roughly 12,000 net acre leasehold position and 5,000 net royalty acre mineral/override position in the northern Delaware Basin. The company is currently focused on identifying, accumulating and developing conventional and unconventional oil and gas assets across several major North American oil and natural gas plays, according to the OneEnergy website.

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