Templar Energy, Le Norman Fund I closing Forest Oil deal

Templar Energy

Templar Energy LLC and its wholly owned operating subsidiary, Le Norman Operating LLC, and its joint venture partner Le Norman Fund I LLC, have closed on the acquisition of Texas Panhandle assets from Forest Oil Corp.

The company and Le Norman Fund I collectively are expected to produce in excess of 20,000 net boepd with an estimated proved reserve base of net 145 million boe. The resource potential for the company and Le Norman Fund I would exceed net 750 MMboe. All of the company's reserves are focused in the greater Anadarko Basin located in northwest Oklahoma and the Texas panhandle.

The company financed the acquisition with a combination of equity from its financial sponsors First Reserve, Trilantic Capital Partners, Cohesive Capital Partners and the company’s management team, and borrowings from its new 1st lien and 2nd lien debt facilities. Le Norman Fund I LLC financed the acquisition with proceeds from Le Norman Properties, LLC, David D. Le Norman, and Carlyle Energy Mezzanine Opportunities Fund LP.

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