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

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...