Affiliates of Apollo Global Management LLC (NYSE:APO) and Double Eagle Energy Holdings LLC have expanded their strategic partnership and funds managed by Apollo have created Double Eagle Energy Holdings II LLC to invest in oil and gas properties.
Double Eagle II, headquartered in Fort Worth, Texas, has an executive management team led by John Sellers, co-CEO, and Cody Campbell, co-CEO. Sellers and Campbell also manage Double Eagle Development LLC, which has acquired oil and gas leasehold interests across Texas and the US Mid-Continent, leasing more than one million acres over the last several years.
Formation of this new partnership follows the recent successful sale by Double Eagle I of its Oklahoma SCOOP assets to American Energy Non-Op LLC. Double Eagle II will pursue a non-op strategy similar to Double Eagle I, but on a significantly larger scale and with a more substantial commitment from funds managed by Apollo.