Dallas, TX (PRWEB) May 28, 2015
Springbok Energy Partners, LLC (“Springbok”), a Dallas-based partnership focused on making investments in oil and gas mineral and royalty assets, today formally announced the launch of its next fund. Springbok’s investment strategy is to create a diversified portfolio of mineral and royalty interests in mature and emerging resource plays across the United States.
Springbok’s management team, led by its President, Ryan Watts, has extensive experience investing in oil and gas mineral and royalty assets. Watts has served as the President of Addax Minerals, a private investment firm focused on investing in oil and gas mineral and royalty assets, since its inception in 2010. While serving as President of Addax, Watts has been integrally involved in all aspects of firm strategy, acquisitions, and operations. Watts brings with him to Springbok the full technical, operational, and acquisitions team of Addax.
The fund will invest in a new strategic partnership that was formed between Springbok's management and Natural Gas Partners (“NGP”) to pursue investments in mineral and royalty interests. Mr. Watts commented on the synergies between Springbok and NGP, “It’s an honor to partner with the premier private equity firm focused on the energy industry. I believe our partnership will drive investment opportunities for both NGP and Springbok.”
The investment in the Springbok platform represents NGP’s only existing mineral and royalty acquisition focused partnership. NGP Managing Partner Chris Carter commented, “Springbok represents an attractive partner to capitalize on mineral and royalty acquisition opportunities in emerging and mature unconventional plays. We believe that Ryan and the Springbok team have the right business model and experience to achieve attractive rates of return in this asset class."
The fund is seeking capital commitments from third party institutional and high net worth investors.
Willkie Farr & Gallagher LLP represented Springbok in its joint venture with NGP, led by partners Michael De Voe Piazza and Phil Isom and associate Clay Brett. Thompson & Knight LLP represented NGP in the transaction, led by partner Wes Williams and associate Steve Bartz.
About Springbok Energy Partners
Springbok is a Dallas-based partnership with a focus on acquiring and managing oil and gas mineral and royalty assets in the United States. The firm has an established presence in the market as a scaled multi-basin buyer that has focused on a growth strategy that features organic acquisitions directly from mineral owners. Springbok targets assets in both emerging and mature resource plays. Springbok’s management team has managed multiple mineral and royalty platforms, generating returns in varied industry and commodity price cycles by applying a consistent, disciplined, risk-adjusted investment approach. For additional information, please visit http://www.springbokinvestors.com.
About Natural Gas Partners
Founded in 1988, NGP is a family of private equity investment funds, with approximately $16.5 billion of cumulative equity commitments, organized to make investments in the natural resources sector. NGP is part of the investment platform of NGP Energy Capital Management, a premier investment franchise in the natural resources industry. In addition to NGP, NGP Energy Capital Management’s investment platform includes NGP Global Agribusiness Partners and NGP Energy Technology Partners.