Resource Energy Partners
Upstream Energy Development
Resource Energy Partners LLC (“Resource Energy”) 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 the Bakken Resource Play of North Dakota, Resource Energy has acquired the interests of American Eagle Energy Corporation, Samson Resources Corporation, and more recently Bakken Hunter. Resource Energy currently owns interest in 384 wells in the Williston Basin (186 which are operated) with 7,500 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, the “Apollo Fund”), a leading global alternative investment manager. The Apollo Fund is one of the world’s largest alternative investment managers, with $242 billion of assets under management as of September 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.
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.