Indigo Minerals LLC has completed a $375 million equity capital raise and the acquisition of certain producing properties and undeveloped acreage in the core of the Cotton Valley and Haynesville plays from a private exploration and development company.
The capital raise was led by private equity firm Trilantic Capital Management LP, which invested $300 million in Indigo, in partnership with the company’s existing investors, including the Martin Companies LLC, Yorktown Partners LLC, and Ridgemont Equity Partners, who together invested $75 million of additional equity in Indigo.
Pro forma for the acquisition, Indigo holds approximately 160,000 net acres in Northwest Louisiana and East Texas in addition to a portfolio of minerals and leasehold interests across 15 states. Indigo is the tenth largest private producer of natural gas in the United States with year-end SEC proved reserves of 1.27 Tcf. Indigo came in at No. 22 in the April edition of the OGFJ100P.
Indigo was advised by Jefferies LLC and Kirkland & Ellis LLP. Trilantic North America was advised by Latham & Watkins LLP. The Martin Companies were advised by their general counsel, Ray Brown. Yorktown was advised by Thompson & Knight LLP. Ridgemont was advised by Troutman Sanders LLP.