BOSTON, MA and FARMINGTON, NM (July 25, 2016) – Private equity funds managed by ArcLight Capital Partners, LLC recently closed a $150 million commitment to back LOGOS Resources, a leading developer of oil and natural gas production assets in the San Juan Basin. The commitment represents ArcLight’s second partnership with LOGOS, following its original investment in 2012. The commitment to LOGOS, which also includes commitments from the LOGOS management team and Consolidated Asset Management Services (an ArcLight affiliate), will be used to pursue acquisitions primarily in the San Juan Basin and enhance development of LOGOS’ existing acreage position.
Concurrent with the new commitment, LOGOS completed the acquisition of San Juan Basin assets consisting of approximately 129,000 net acres and net production of approximately 38 MMcfepd. Including existing assets owned by LOGOS, the company now consists of approximately 143,000 net acres and net production of approximately 46 MMcfepd, making LOGOS one of the premier oil and gas operators in the San Juan Basin.
LOGOS will continue to be led by President Jay Paul McWilliams, together with John Bruner as Vice President, Christopher Jeffus as Director of Land and Legal, and Kelly Maxwell as Operations Advisor.
“After a successful partnership that began in 2012, we are excited to continue our relationship with ArcLight in pursuing attractive, scalable opportunities in the San Juan Basin,” said Jay Paul McWilliams. “LOGOS’ operating record backed by ArcLight’s financial strength places LOGOS in an excellent position to continue building its reputation as one of the top operators in the San Juan Basin.”
“We are very pleased to back Jay Paul and his team again on this new venture,” added Dan Revers, Managing Partner and co-Founder of ArcLight. “The San Juan represents a particularly attractive basin for ArcLight, and LOGOS’ expertise in developing and operating successful assets in this region is clear.”