Trilantic Capital Partners and Ward Petroleum Corp. have teamed up to launch Ward Energy Partners, an oil and gas exploration and production company. No financial terms were disclosed. WEP will focus on various basins in Oklahoma and Eastern Colorado.
NEW YORK, July 24, 2014 /PRNewswire/ — Trilantic Capital Partners (“Trilantic”), a global private equity firm, and Ward Petroleum Corporation (“Ward”) today announced their partnership in a newly formed oil and gas exploration and production company, Ward Energy Partners (“WEP” or “the Company”). WEP will focus operations in various basins in Oklahoma and Eastern Colorado. Financial terms of the transaction were not disclosed.
“We are delighted to work with Trilantic in this venture. Their deep experience in creating value within the energy sector will be a great asset to us as we look to grow Ward Energy Partners,” CEO Bill Ward commented. “We see great potential in each of these liquid-rich basins and are excited to capitalize on the opportunities ahead of us.”
Ward Energy Partners will be led by CEO Bill Ward, a petroleum engineer with over 30 years of experience in the mid-continent, as well as a sophisticated management team with a strong track record of identifying and developing resources in its target regions. Trilantic North America, Ward, and the management team will commit significant equity capital to WEP to be used in developing Ward’s existing leasehold position as well as in acquiring additional leaseholds in Oklahoma and Colorado.
“Ward is a great example of what we look for in a partner,” said Christopher Manning, Partner at Trilantic. “As a family-owned and operated company with a stellar 50-year operating history, we are confident in the team’s ability to identify and successfully develop oil and gas resources in its target geographies.”
The transaction follows Trilantic North America’s investment in Fluid Delivery Solutions in June and two recent exits by the firm: the sale of Enduring Resources’ Permian Basin assets and the IPO and secondary share sale of Antero Resources Corporation. Trilantic has now committed in excess of $2.5 billion to the energy sector.
Trilantic was represented by Vinson & Elkins. Hall Estill represented Ward.
About Trilantic Capital Partners
Trilantic is a private equity firm focused on control and significant minority investments in North America and Europe, with a primary investment focus in North America in the business services, consumer, energy and financial services sectors. Trilantic currently manages five institutional private equity funds with aggregate capital commitments of $6.2 billion. For more information, visit www.trilantic.com.
About Ward Petroleum Corporation
Family-owned and founded 50 years ago, Ward is a diversified exploration and production company based in Enid and Oklahoma City, Oklahoma and Fort Collins, Colorado. Ward and its management team have discovered and developed significant oil and gas resources across the US, with a primary focus in Oklahoma. Ward prides itself on creating value for its stakeholders through the responsible development of its resources. For more information, visit www.wardpetroleum.com.