Trilantic co-investment in DJR acquisition of Encana’s San Juan Basin assets
Davis Polk advised Trilantic Capital Management LP (“Trilantic North America”) in connection with the establishment of co-investment vehicles to participate in the acquisition by DJR Energy, LLC, a Trilantic North America portfolio company, of Encana Corporation’s San Juan Basin assets. The pending acquisition includes approximately 182,000 net acres, and, when combined with DJR’s existing assets, DJR will have a total of over 350,000 net acres focused in the oil window of the San Juan Basin. At close of the pending acquisition, DJR will have production of over 6,000 barrels of oil equivalent per day and hold an inventory of over 1,100 high value drilling locations boasting breakevens competitive with other premier oil basins.
Trilantic North America is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer and energy sectors. Trilantic North America currently manages six private equity fund families with aggregate capital commitments of $9.0 billion. To date, Trilantic North America’s energy team has committed approximately $4.1 billion in capital across 27 energy investments.
The Davis Polk investment management team included partner Michael S. Hong, counsel Jennifer Grant Cooper and associates Sijia Cai, Michael W. Brasher and Amy L. Larsen. Partner David H. Schnabel, counsel Ethan R. Goldman and associate Joshua J. Micelotta provided tax advice. Partner Jeffrey P. Crandall and counsel Charles Shi provided ERISA advice. All members of the Davis Polk team are based in the New York office.