Indigo Minerals LLC said April 28 it completed a $375 million acquisition in the Cotton Valley and Haynesville plays.
The acquisition included certain producing properties and undeveloped acreage in the core of the plays. The seller was a private exploration and development company, according to the release.
Pro forma for the acquisition, the company holds about 160,000 net acres in Northwest Louisiana and East Texas.
In addition, Indigo completed a $375 million equity capital raise, led by Trilantic Capital Management LP and in partnership with the company's existing investors, including the Martin Cos. LLC, Yorktown Partners LLC and Ridgemont Equity Partners.
Trilantic invested $300 million in Indigo. Together, Indigo's existing investors raised $75 million of addition equity in the company.
Indigo was advised by Jefferies LLC and Kirkland & Ellis LLP. Trilantic North America was advised by Latham & Watkins LLP. The Martin Cos. were advised by their general counsel, Ray Brown. Yorktown was advised by Thompson & Knight LLP. Ridgemont was advised by Troutman Sanders LLP.
Indigo holds a significant portfolio of minerals and leasehold interests across 15 states. With year-end SEC proved reserves of 1.27 trillion cubic feet, the company is the 10th largest private producer of natural gas in the U.S., the release said.
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