Indigo Minerals Completes Capital Raise and Acquisition
April 28, 2016
Houston, Texas, April 28, 2016 -- Indigo Minerals LLC (“Indigo” or the “Company”) announced today the completion of 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. Pro forma for the acquisition, Indigo holds approximately 160,000 net acres in Northwest Louisiana and East Texas in addition to a significant 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.
The capital raise was led by Trilantic Capital Management L.P. (“Trilantic North America”), who invested $300 million in Indigo, in partnership with the Company’s existing investors, including the Martin Companies, Yorktown Energy Partners and Ridgemont Equity Partners, who together invested $75 million of additional equity in the Company.
“We are grateful for the support of our new and existing investors and look forward to a fruitful partnership. The acquisition of these properties further enhances Indigo’s leading position in a world class natural gas basin, and presents an exciting opportunity for the Company, its employees and its investors,” said Bill Pritchard, Indigo’s Chairman and CEO.
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.
About Indigo Resources
Indigo Resources is a Houston based private exploration and production company that operates upstream assets in the Ark-La-Tex region. The company is also one of the largest mineral owners in the United States.
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $3.5 billion in 137 companies. The firm focuses on investments of $25 million to $100 million in industries in which it has deep expertise, including basic industries and services, energy, healthcare, and telecommunications/media/technology.