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Trilantic/First Reserve portfolio company acquires Granite Wash assets

Newfield Exploration Company is selling its Granite Wash assets to Trilantic/First Reserve portfolio company Templar Energy. The value of the transaction is $588 million. Newfield’s assets in the Granite Wash include approximately 42,000 net acres and current net daily production is nearly 65 MMcfe/d, of which approximately 60% is natural gas.

First Reserve Backs Repeat Management Team

First Reserve Corporation has backed a repeat management team and created a new exploration and production company, Templar Energy. Templar is focused on investing primarily in the mature, liquids-rich producing basins in the Mid-Continent Region. The Templar team is led by industry veteran David Le Norman. Financial terms of the First Reserve investment were not disclosed.

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