LOGOS will continue to be led by its existing management team, including its CEO Jay Paul McWilliams. Management is comprised of San Juan Basin veterans, collectively bringing more than 100 years of regional drilling and operating experience as well as an extensive track record of community interaction and environmental stewardship.
From PR Newswire
June 2, 2022
North Hudson Resource Partners LP and its affiliated funds ("North Hudson"), in partnership with the management team of LOGOS Resources II, LLC ("LOGOS"), announced that it has acquired LOGOS from affiliates of ArcLight Capital Partners, LLC ("ArcLight") for approximately $402 million. LOGOS' assets include over 230,000 net acres in the San Juan Basin, current net production of 106 MMcfe per day, and an extensive inventory of drilling locations in the core of the prolific Mancos Shale and Gallup oil play. LOGOS recently commenced its 2022 drilling program and anticipates increasing net production to approximately 130 MMcfe per day by year end.
LOGOS will continue to be led by its existing management team, including its CEO Jay Paul McWilliams. Management is comprised of San Juan Basin veterans, collectively bringing more than 100 years of regional drilling and operating experience as well as an extensive track record of community interaction and environmental stewardship.
"We are excited to partner with North Hudson and will use our new resources to accelerate the development of our Mancos and Gallup reserve base following the success of our 2021 horizontal drilling program," said Jay Paul. "Our operating and development track record, basin-leading ESG programs, and financial and strategic support provided by North Hudson, place LOGOS in an excellent position to execute on the next phase of value creation."
"We are very pleased to have the opportunity to work with Jay Paul and the LOGOS team" added Mark Bisso, Managing Partner of North Hudson. "LOGOS presents a significant opportunity for our investors given the Company's strong management team, significant and stable production base, and expansive undeveloped resource base."
Kirkland & Ellis and Skadden served as legal counsel for North Hudson.
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