Silver Hill Energy Partners, LP Closes Oversubscribed $1.13 Billion Fund for Fourth Venture Focused on Direct Investments in Premier Oil and Gas Basins Across the U.S.
2024年7月31日 - 9:30PM
ビジネスワイヤ(英語)
- Company remains focused on direct investments in high-quality,
active basins via continued acquisition, optimization and
development of operated oil, natural gas and related infrastructure
properties across the Lower 48.
- Current portfolio consists of large-scale production and
development operations with more than a decade of drilling
inventory across ~55,000 net acres in the Haynesville Shale of East
Texas and Louisiana and ~86,000 net acres in the Bakken Shale of
North Dakota.
- Since August of 2021, the company has completed seven
large-scale upstream acquisitions, two midstream infrastructure
projects supporting its upstream operations, and dozens of
complementary mineral and royalty acquisitions while executing on
active development plans across three major basins and realizing a
successful full-cycle investment in South Texas.
- Since its inception in 2011, the company has raised $2.875
billion of cumulative capital commitments.
Silver Hill Energy Partners, LP (“Silver Hill”) announced today
the closing of its fourth partnership and second institutional
private equity fund, Silver Hill Energy Partners IV, LP (“Silver
Hill IV”). Silver Hill IV was oversubscribed at closing, with total
capital commitments of $1.13 billion from a group of institutional
investors comprised of endowments, pension funds, medical and
family foundations and family offices, the majority of which are
repeat investors.
The formation of Silver Hill IV represents a continuation of the
company’s founding focus on the direct ownership, operation and
control of onshore oil, natural gas and related infrastructure
assets in premier basins across the U.S. Since its inception in
2011, the company has raised $2.875 billion of cumulative capital
commitments.
CEO Perspective
“The strong demand and oversubscribed interest we experienced
with Silver Hill IV is reflective of institutions’ continuing
appetite for compelling risk-adjusted returns in the energy
sector,” said Silver Hill Founder and CEO Kyle D. Miller. “We are
proud of the high-quality portfolio we have strategically built and
developed over the last several years, and we are extremely
grateful for our partners and the shared sentiment they’ve shown
through their support of our latest fund.”
Miller added, “We will continue to look for ways to drive value
through the development of our existing Haynesville and Bakken
assets while we evaluate creative ways to grow our portfolio in
both current and additional operating areas. Looking to the future,
we remain committed to the safe and responsible development of oil
and gas assets and environmentally-conscious operations evidenced
by reductions of emissions and improved carbon footprints on every
set of properties we have acquired.”
Company Overview
Silver Hill is focused on acquiring, optimizing and developing
oil and natural gas properties in high-quality, active basins
throughout the onshore U.S. Since August 2021, the company has
completed seven large-scale upstream transactions, two midstream
development projects supporting its upstream operations, and dozens
of complimentary mineral and royalty acquisitions. The company also
realized a successful full-cycle investment of its Eagle Ford
assets located in South Texas. Today, Silver Hill’s portfolio
consists of large-scale production and development operations
across ~55,000 net acres in East Texas and North Louisiana
prospective for the Haynesville and Bossier formations and ~86,000
net acres in North Dakota prospective for the Bakken and Three
Forks formations. The Haynesville and Bakken positions are
predominantly held-by-production and have more than 600 combined
locations equating to more than 11 years of inventory at
accelerated development cadences. Silver Hill is actively
developing both assets with one operated rig running in each
region.
Aviditi Advisors and Willkie Farr & Gallagher LLP, served as
Silver Hill’s placement agent and legal counsel, respectively,
during the fundraising process.
About Silver Hill Energy Partners
Silver Hill Energy Partners is based in Dallas and was founded
in 2011 by Kyle D. Miller to provide a long-term vehicle for
profitable energy development across the U.S. From 2011 through
2017, Mr. Miller and his team assembled what was, at the time, the
largest privately held contiguous acreage position in the Delaware
Basin of West Texas through multiple operating companies and
strategic joint ventures that successfully acquired, developed and
ultimately sold large-scale unconventional oil, natural gas and
related infrastructure assets. Silver Hill I & II generated
strong risk-adjusted returns across cycles for a diversified base
of investors, including private equity, institutions and family
offices. The formation of Silver Hill III followed the successful
merger of Silver Hill I & II’s upstream assets into RSP
Permian, Inc. for $2.5 billion in cash and stock. For more
information, please visit silverhillenergy.com.
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Redbird Communications Meggan Morrison meggan@redbirdpr.com