Freepoint Commodities Completes Purchase of Pinedale Properties Sixty-six natural gas producing wells are Freepoint's first property acquisition in oil and gas sector
STAMFORD, Conn., March 5, 2013 /PRNewswire/ -- Freepoint Commodities LLC, through its subsidiary Freepoint Resources LLC, has completed the acquisition of 66 natural gas producing wells from a subsidiary of Bucking Horse Energy Inc. (TSX: BUC), an exploration and production company. The transaction, announced on December 13, 2012 was completed on February 28.
The natural gas wells, located in the Pinedale field in Southwest Wyoming, are Freepoint Resources' first property acquisition. Freepoint Resources is Freepoint Commodities' recently established platform for acquiring and operating natural gas producing properties.
Evercore Group L.L.C. acted as Freepoint's exclusive financial advisor in this transaction.
Fulbright & Jaworski L.L.P. acted as Freepoint's legal advisor on the acquisition of the Pinedale properties and Stroock & Stroock & Lavan LLP acted as Freepoint's legal advisor on the financing.
About Freepoint Commodities LLC and Freepoint Resources LLC
Freepoint Resources LLC is a subsidiary of Freepoint Commodities LLC, which was founded by former Sempra Energy Trading executives. Freepoint Commodities LLC is based in Stamford, CT and launched multiple platforms in the energy and metals markets starting in March 2011. Management and private equity funds managed by Stone Point Capital have provided the initial equity capital for Freepoint Commodities LLC and its subsidiaries, including Freepoint Resources LLC. Freepoint Resources LLC is based in Denver, CO with offices in California and support functions managed out of Stamford, CT.
SOURCE Freepoint Commodities LLC