Resource Energy

Resource Energy Partners

Upstream Energy Development
  • Resource Energy Oil Well

    Resource Energy Well

    Resource Energy
  • Resource Energy Oil Derrick

    Resource Energy Derrick

    Resource Energy
  • Resource Energy Oil Wells

    Resource Energy Wells

    Resource Energy

 

Resource Energy Partners is an upstream energy development company formed in 2015 to acquire, joint venture, and farm-in existing producing properties by providing expertise and capital to optimize production. The Resource Energy team has decades of combined experience in resource play evaluations, capture, testing and development in over 15 resource basins in the US and internationally. The team is dedicated to using state of the art evaluation, drilling, and completion technologies while providing financial discipline to optimize production revenues in a challenging price environment. The team has a long standing reputation for conducting resource operations in a cost effective, safe, and reliable manner.

In Divide County, Resource Energy has acquired the interests of American Eagle Energy Corporation, Samson Resources Corporation, and more recently Blue Ridge Mountain Resources. Resource Energy currently owns interest in 384 wells in the Williston Basin (186 which are operated) with 6,800 barrels of oil equivalent per day of production. Resource Energy is actively pursuing opportunities to expand its footprint in the Bakken play as well as in other Rockies and Texas unconventional oil plays. The company will be pursuing several acquisitions from $25MM to $500MM over the next several years.

Resource Energy is a private equity-backed company capitalized by funds affiliated with Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), a leading global alternative investment manager. The Apollo Fund is one of the world’s largest alternative investment managers, with $232 billion of assets under management as of June 30, 2017, including a $25 billion private equity fund. Resource Energy was formed to implement an acquisition and exploitation strategy principally focused on the revitalization of existing wellbores as opposed to drilling new wells. Resource Energy is currently seeking producing property acquisitions, joint ventures, and farm-ins to provide expertise and capital to grow production while optimizing costs and returns to all investors. Please contact a Resource Energy team member for more information if you have a producing property in need of capital and development expertise.

 

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Our History

Prior to the formation of Resource Energy, the team built Source Energy which was started in 2010 to pursue shale resources in Europe. Source Energy secured 380,000 acres in Poland and 80,000 acres in Germany.  Source Energy successfully monetized both assets in late 2011 as the company shifted its focus and established investments in Colombia, South America and the Mississippi Lime, Woodford and other shallow producing formations principally in Kansas and Colorado.

Between 2011 and 2014 Source Energy secured over 350,000 acres and operated total fluid production of 35,000 bbls/day in the Mississippi Lime play located in Kansas.  The company owned a total of 48 wells (Horizontal, Vertical & Water Disposal wells), installed 22 miles of formation water infrastructure, and acquired over 350 sq. miles of state of the art 3D seismic data.   In Colombia South America, Source amassed over 300,000 acres with 425 square miles of 3D seismic, 2,800 miles of linear 2D seismic, multiple well logs and core analysis in what is known to be a world class generating shale of the Middle Magdalena – La Luna resource play.    The Colombia asset has secured an additional line of equity from the previous investor group and is pursuing unconventional partnerships under the name La Luna Resources LP.

 

 

News - Resource Energy Can-Am LLC and Blue Ridge Mountain Resources, Inc. Sign Asset Purchase Agreement for Williston Basin Assets in Divide County, ND

Resource Energy Can-Am LLC (“Resource Energy”) and Blue Ridge Mountain Resources, Inc. (“Blue Ridge Mountain Resources”) announced today that they have entered into a definitive Asset Purchase Agreement whereby Resource Energy will acquire Blue Ridge Mountain Resources’ Divide County, North Dakota properties in the Bakken play. Under the terms of the agreement, the assets will be sold for $34.7 million in cash (subject to customary adjustments). The assets include interests in 167 wells, over 45,000 net mineral acres, in excess of 1500 BOE/D of flowing production and 3.0 million BOE of reserves.

News - CEO Paul Favret Participates in 2017 DUG Conference Tech Roundtable

For the second year in a row, CEO Paul Favret was invited to provide skilled insight at the 2017 DUG Conference Tech Roundtable. The Tech Roundtable Panel, of which Favret was an expert member, focused primarily on the topics of enhanced completions and closer well spacing, or as industry professionals are calling the collective: well intensity. Favret articulated his views regarding the industry’s higher quality well performance with the introduction of longer laterals, more sand and closer frac clusters, and conveyed his analysis on past profitable operations and how they shape improvements for the future.

News - Resource Energy Can-Am LLC Completes Purchase of Samson Resources’ Williston Basin Assets

DENVER–(BUSINESS WIRE)–Resource Energy Can-Am LLC (“Resource Energy”) announced today that it has closed on its previously announced agreement to acquire assets in the North Dakota Bakken Formation from Samson Resources Company. The purchase price was approximately $75.0 million (subject to customary adjustments). The assets were sold pursuant to Section 363 of the United States Bankruptcy Code.

News - Resource Energy Can-Am LLC Enters into Stalking Horse Agreement with Samson Resources Covering Williston Basin Assets

DENVER–(BUSINESS WIRE)–Resource Energy Can-Am LLC (“Resource Energy”) announced that it has entered into a stalking horse asset purchase agreement with Samson Resources Company to acquire certain of Samson’s North Dakota and Montana properties in the Bakken play. Under the terms of the agreement, the assets will be sold for approximately $75.0 million (subject to customary adjustments). The assets are being acquired under Section 363 of the Federal Bankruptcy Code. The asset purchase agreement is subject to approval of the United States Bankruptcy Court for Delaware.

News - Paul Favret Speaks at EnerCom 2016

Resource Energy’s CEO Paul Favret presented at this year’s annual EnerCom conference in Denver Colorado. Mr. Favret touched on several topics which included Resource Energy’s history, profitability challenges, refracturing, and strategies for sustainable savings leverage.

News - Capitalizing On The Bakken's New Resource

The Bakken Magazine –The name of Paul Favret’s and Kent Moore’s oil- and gas-focused company is an indicator of things to come for Resource Energy Partners LLC’s recently acquired Williston Basin assets.

News - Paul Favret Speaks at DUG 2016

Resource Energy’s CEO, Paul Favret, was invited to speak at the annual DUG Rockies conference March 11th, 2016. Mr. Favret offered insights in to the outlook for the Rockies Economics and for the oil and gas industry as a whole. Mr. Favret was quoted several times in a Denver Post Business article that was written by Aldo Svaldi, who was in attendance for the conference presentation.

News - Resource Energy Announces Formation

DENVER–(BUSINESS WIRE)–Resource Energy Partners LLC (“Resource Energy”) is a recently formed private equity-backed upstream oil and gas production company capitalized by funds affiliated with Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), a leading global alternative investment manager. Resource Energy was formed to implement an acquisition and exploitation strategy principally focused on the revitalization of existing wellbores as opposed to drilling new wells.