Ares Management’s private equity fund to acquire BlackBrush Oil & Gas

Ares Management LP

Ares Management LP’s (NYSE: ARES) private equity group has signed definitive agreements to acquire BBOG II Guarantor LP (BlackBrush) from EIG Management Company LLC and Tailwater Capital LLC, on behalf of their respective managed funds.

BlackBrush has a history of acquiring and developing oil and gas assets across South Texas, which is one of the most productive oil and gas basins in the US. With new capital provided in conjunction with the transaction, BlackBrush plans to further develop its position of more than 160,000 net (360,000 gross) acres. The transaction is expected to close in the third quarter of 2014.

BlackBrush will continue to be led by its co-founder and CEO, Scott Martin. Co-founder Phil Mezey will also remain involved as an advisor to BlackBrush.

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...