Trilantic Capital Management and TRP Energy Form New Oil and Gas Partnership
Trilantic Capital Management LP (Trilantic North America) has announced a US$250 million equity commitment to invest in TRP Energy, LLC.
TRP is a newly-formed, Houston, Texas-based exploration and production company seeking to acquire and finance the development of direct, non-operated working interests across premier onshore plays in the US. TRP plans to build a portfolio of non-operated positions across the premier basins by partnering with proven operators. TRP will target high-quality oil and gas assets with well control that offer significant undeveloped upside.
TRP will be led by CEO Trent Foltz and President Randy Dolan, two petroleum engineers who previously led JP Morgan’s technical upstream acquisitions and divestitures practice.
Glenn Jacobson, a Partner at Trilantic North America, stated:
“We believe the combination of TRP’s non-op strategy, management’s unique skillset and the current macro environment creates a compelling opportunity to partner with top-tier operators in the development of their oil and gas projects. We are thrilled to invest with the TRP management team and to execute on the exciting opportunities ahead.”
Trent Foltz commented:
“We are excited to join Trilantic in this new venture. We see a lot of potential in this non-op strategy and are fortunate to be accompanied by a partner with such extensive oil and gas investment experience and a proven track record of success.”
The transaction follows Trilantic North America’s recent energy investments in Ward Energy Partners and Fluid Delivery Solutions. The Trilantic North America team has now committed approximately US$2.8 billion to the energy sector.
Trilantic was advised by Latham & Watkins LLP. TRP was advised by Sidley Austin LLP.
We have recently reported about several Oil & Gas projects globally:
- Corpus Christi LNG project - USA
- Petrol storage concession project - Rwanda
- Freeport LNG third natural gas liquefaction train on Quintana Island - USA
- Calgary Stoney CNG transit bus garage facility - Canada
- Chicago CNG fueling stations project - USA
- Samalayuca – Sasabe gas pipeline project - Mexico
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