Fifth Creek Energy Company, LLC Announces Partnership with Natural Gas Partners
DENVER, March 5, 2015 /PRNewswire/ -- Fifth Creek Energy Company, LLC ("Fifth Creek" or the "Company") today announced the completion of its private equity financing with funding commitments from NGP Natural Resources XI, L.P. ("NGP"), Holmes Creek and management.
Patrick Graham, Corporate Development and Chief Operating Officer with Fifth Creek commented, "The opportunity to create substantial value continues as the North American technical renaissance in energy expands. Fifth Creek will focus on areas where advances in technology are leading onshore production growth. Management's demonstrated ability to attractively invest capital, execute development plans and operate efficiently will again drive success for our investors."
Michael Starzer, Chairman and Chief Executive Officer with Fifth Creek commented, "We are pleased to be working with the outstanding team at NGP as we build Fifth Creek into another successful acquisition and development company. We are also pleased to be working again with Holmes Creek, a member of our previous investor group, and we look forward to repeating the success of our past four companies."
Chris Carter, Managing Partner with NGP, commented, "NGP has a longstanding history of partnering with and providing capital to proven management teams. Fifth Creek is one of the early investments in our eleventh fund, NGP Natural Resources XI, L.P., which closed in January of this year with total commitments of $5.325 billion. In their operational and leadership roles at Bonanza Creek Energy, Inc., Mike and Pat demonstrated their ability to build and develop a proven asset with exceptional returns. We look forward to working with Mike, Pat and the entire Fifth Creek team. The financial depth of Fifth Creek's investor group and the Company's proven management team will again provide the resources for success."
Rivington Holdings, LLC, and its affiliate, Rivington Securities, LLC (FINRA member) served as exclusive financial advisor and Kendall, Koenig and Oelsner PC served as legal counsel to the Company.
About Natural Gas Partners
Founded in 1988, Natural Gas Partners is a family of private equity investment funds with cumulative committed capital of $16.5 billion since inception, organized to make investments in the oil and gas production, midstream and oilfield services sectors. Natural Gas Partners is part of the investment platform of NGP Energy Capital Management, a premier investment franchise in the natural resources industry. www.naturalgaspartners.com
About Fifth Creek Energy Company, LLC
Fifth Creek Energy Company, LLC is an independent oil and natural gas company based in Denver, Colorado and engaged in the acquisition, development and production of onshore oil and associated liquids-rich natural gas in North America. Further information may be found on the Company's website at www.fifthcreekenergy.com.
About Rivington Holdings, LLC
Rivington Holdings, LLC, is an independent investment banking firm specializing in private capital and mergers and acquisition transactions for the energy sector. Founded in 2002, Rivington has closed 84 transactions with a total transaction value exceeding $5.8 billion. Further information can be found at www.rivingtoncap.com.
Forward-Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company. Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Fifth Creek Energy Company, LLC
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