FBS Properties Inc. (FBS) closed the acquisition of Warwick Oil & Gas Inc. (a Texas corporation), Warwick Oil & Gas Inc. (an Oklahoma corporation) and Reserve Royalty Corp., the company said Sept. 29. The companies have oil and gas interests in more than 20 counties and parishes in Texas, Arkansas and Louisiana.
FBS was founded by investor Fred Schneiderman. FBS’ acquisition rights were affirmed in the court case FBS Properties, Inc. v. Warwick Oil & Gas, Inc. et al, Cause No. 2012-33816. Management had initially refused to fully recognize its acquisition rights, FBS said.
FBS has offices in Houston and New York.
The Alta Mesa transaction represents the sixth acquisition by partnerships between Tom Ward-led Mach Resources and private equity firm Bayou City Energy Management.
Jay Graham is back after the successful sale of WildHorse Resource Development to Chesapeake Energy with a new venture—this time in the Permian Basin.
Rice Investment Group, formed by Daniel, Toby and Derek Rice, made its initial investment in the fracking software company Cold Bore in October 2018.