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Templar Energy and Le Norman Fund close buy of Texas Panhandle oil and gas assets

Templar Energy and Le Norman Fund I have completed its acquisition of Forest Oil Corp‘s oil and gas assets based in the Texas Panhandle. No financial terms were disclosed. Le Norman Fund is backed by First Reserve, Trilantic Capital Partners and Cohesive Capital Partners.

PRESS RELEASE

OKLAHOMA CITY, Nov. 26, 2013 /PRNewswire/ — Templar Energy LLC and its wholly owned operating subsidiary, Le Norman Operating LLC, (the “Company”) and its joint venture partner Le Norman Fund I LLC, announce the closing of the acquisition of Texas Panhandle Assets from Forest Oil Corporation. The Company financed the acquisition with a combination of equity from its financial sponsors First Reserve, Trilantic Capital Partners, Cohesive Capital Partners and the Company’s management team, and borrowings from its new 1st lien and 2nd lien debt facilities. Le Norman Fund I LLC financed the acquisition with proceeds from Le Norman Properties, LLC, David D. Le Norman, and Carlyle Energy Mezzanine Opportunities Fund, L.P.