Sheridan Production Partners has raised $1.5 billion in equity commitments through its third fund, Sheridan Production Partners III, to acquire onshore US producing oil and gas properties. Including the latest offering, Sheridan has raised a total of $4.6 billion in equity commitments through private placements of three series of investment vehicles since the company’s formation in 2006. The Sheridan Fund III investors include long-time Sheridan Limited Partners, along with new investors making their first commitment to Sheridan.
Sheridan will continue to focus on transactions in the Mid-Continent area (primarily in Oklahoma, Texas, New Mexico, and Wyoming) that complement the company’s existing assets.
Sheridan Production Partners III is under common management with Sheridan’s previous two funds and has a similar investment strategy. The earlier oil and gas partnerships have closed eight acquisitions for an aggregate purchase price of $5.2 billion, employing a combination of equity commitments and debt financing.