A PRNewswire alert announced that, following the acquisition of certain SM Energy Company Ark-LA-Tex assets, Aethon Energy Management LLC and RedBird Capital Partners LLC together now manage assets in the Ark-LA-Tex area producing approximately 56 million cubic feet of natural gas equivalent per day- nearly twice the size prior to the closing.
The release reports that the collective reserve base is low risk, long life and cash producing with considerable upside optionality. "With this acquisition, we are pleased to continue our partnership with Aethon and look forward to participating in the continued expansion of our collective reserve base," said RedBird Partner Hunter Carpenter.
RedBird was represented by Gardere Partners Evan D. Stone and Timothy M. Spear, along with Attorneys Jerry A. DeVault and Glenn T. Singleton. Weil Gotshal & Manges LLP and Ringet & Collier PLC served as legal counsel to Aethon.
The full press release can be accessed here.