Private equity funds managed by ArcLight Capital Partners LLC recently closed a $150 million commitment to back LOGOS Resources, a developer of oil and natural gas production assets in the San Juan Basin.
The commitment represents ArcLight's second partnership with LOGOS, following its original investment in 2012. The commitment to LOGOS, which also includes commitments from the LOGOS management team and Consolidated Asset Management Services (an ArcLight affiliate), will be used to pursue acquisitions primarily in the San Juan Basin and enhance development of LOGOS' existing acreage position.
Concurrent with the new commitment, LOGOS completed the acquisition of San Juan Basin assets consisting of approximately 129,000 net acres and net production of approximately 38 MMcfepd. Including existing assets owned by LOGOS, the company now consists of approximately 143,000 net acres and net production of approximately 46 MMcfe/d.