DJR Energy, which is backed by Trilantic Capital Management LP, Waveland Energy Partners and Global Energy Capital, has acquired Encana Corporation‘s San Juan Basin assets. No financial terms were disclosed.
PRESS RELEASE
Denver, Colorado – December 27, 2018 – DJR Energy, LLC (“DJR” or the “Company”) has closed on the previously announced acquisition of Encana Corporation’s (“Encana”) San Juan Basin assets. Today the Company holds the largest position in the core of the oil window in the San Juan Basin with over 350,000 net acres and an inventory of over 1,100 high value drilling locations boasting breakevens competitive with other premier oil basins. At close of the pending acquisition, DJR will have production of approximately 7,000 barrels of oil equivalent per day and a gas midstream gathering system servicing its assets.
“We look forward to continuing to unlock the potential of the southern San Juan Basin and believe DJR is well positioned as the dominant player in the oil window. Our team has done an excellent job of preparing for the transition and we look forward to commencing drilling operations,” said Dave Lehman, President and CEO of DJR.
About DJR Energy
DJR is an oil and gas exploration and production company formed in April 2017 by Dave Lehman and funded by Trilantic Capital Management L.P. (“Trilantic North America”), Waveland Energy Partners and Global Energy Capital. Since 2002, the DJR Energy management team has delivered exceptional returns to investors via the successful creation and sale of two companies in the DJ Basin of Colorado (DJ Resources LP and DJ Resources LLC). With DJR Energy, LLC, this highly talented management team has turned their attention to the San Juan Basin of northern New Mexico. For more information, visit www.djrllc.com.
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