Pine Wave Energy Partners Finalizes Asset Sale in East Texas

News Summary

Pine Wave Energy Partners, LLC has completed the sale of its East Texas assets to Rockcliff Energy III LLC through PWEP Shelby Trough, LLC. The deal includes ownership interests in 25 operated wells and controlling interest in natural gas gathering pipelines, showcasing Pine Wave’s strong market position. Following the sale, the company is expanding its operations in the Haynesville Shale, pursuing further growth in the energy sector. This transaction reflects energy market dynamics and Pine Wave’s strategic vision since its founding.

Exciting Asset Sale in East Texas: Pine Wave Energy Partners Makes Big Move

In a noteworthy development for the energy sector, Pine Wave Energy Partners, LLC has successfully completed the sale of its East Texas assets to Rockcliff Energy III LLC. This transition took place through Pine Wave’s wholly owned subsidiary, PWEP Shelby Trough, LLC, and it marks a significant milestone for both companies involved.

What’s Included in the Deal?

The sale encompasses valuable assets located in San Augustine and Shelby Counties in Texas. These assets include ownership interests in a robust total of 25 operated wells over an impressive area that spans approximately 29,000 net acres. Collectively, these assets contribute to a production capability of about 100 million cubic feet per day (MMcf/d) of natural gas, which can be a game-changer in the energy market.

As part of the transaction, there’s also a controlling interest in certain natural gas gathering pipelines in San Augustine County, adding even more value to the deal. This successful transaction represents Pine Wave’s second asset monetization in just three and a half years, following a previous successful deal with Silver Hill Energy Partners in 2022.

Pine Wave Energy Partners Looks Ahead

With the sale finalized, Pine Wave is now setting its sights on a new platform. According to reports, the company has already secured over 10,000 net acres in the Haynesville Shale, showcasing its continued commitment to expanding in the energy sector.

Highlighting Industry Expertise

Pine Wave’s CEO, Ben Hunter, has stated that this completed sale serves as a testament to the company’s ability to develop high-quality assets, especially in complex operating environments. This statement reinforces the strategic focus Pine Wave has had since it was founded in 2018 by Ben Hunter, Ben Voigt, and Stephen O’Neal, all with a vision to thrive in the dynamic energy market.

Rockcliff Energy’s Strategic Expansion

Rockcliff Energy III, backed by Quantum Capital Group, is dedicated to increasing its footprint in one of the most prolific natural gas basins in the U.S. This recent acquisition is seen as a major production base for the company, enabling it to enhance its operational capabilities significantly.

Partnerships Driving the Deal

To execute this transaction smoothly, Jefferies LLC served as the exclusive financial advisor to Pine Wave, while the legal representation was provided by Akin Gump Strauss Hauer & Feld LLP. Meanwhile, Rockcliff was supported by legal counsel from Kirkland & Ellis LLP, ensuring a thorough and seamless process for both parties involved.

The Future Looks Bright

As Pine Wave Energy Partners continues to evolve and pursue new opportunities, this sale indicates a thriving business landscape in the energy sector, especially in Texas. With companies like Pine Wave and Rockcliff Energy III leading the way, the future of energy production appears promising as they strive to make their mark in the industry.

Deeper Dive: News & Info About This Topic

• Business Wire: Pine Wave Energy Partners Sells East Texas Assets
• Fort Worth Inc: Pine Wave Energy Partners Sells East Texas
• P&GJ: Pine Wave Energy Partners to Sell Haynesville Acreage
• Google Search: Pine Wave Energy Partners
• Encyclopedia Britannica: Pine Wave Energy Partners