Published: January 09, 2012
Intervention Energy, LLC Secures $200 Million Financing Facility from EIG Global Energy Partners to Develop Bakken
MINOT, N.D. - (BUSINESS WIRE) - Intervention Energy, LLC ("IE" ) announced today it has entered into a
financing agreement with EIG Global Energy Partners ("EIG") whereby EIG
will provide up to $200,000,000 in Senior Secured Notes to finance well
development costs for IE's holdings targeting the Bakken and Three Forks
formations in North Dakota and Montana. Founded in 2007 by Minot native
John Zimmerman, IE now controls over 55,000 net acres in North Dakota
and Montana and is one of the largest privately held non-operating
companies focused on developing the Bakken and Three Forks plays in the
Williston Basin. To date, IE has funded investments in over 100
producing wells.
John Zimmerman, President of IE commented, "This agreement represents a
transformational step forward for our company and our shareholders and
should enable us to meet our well funding obligations for the
foreseeable future. After five years of bootstrapping our growth and
expansion with no institutional investor involvement by design, we are
thrilled to have EIG as our first institutional partner. They come with
a distinguished, 30-year track record of energy sector investing and we
know their deep experience will help us optimize IE's growth and
evolution given the high pace of activity we're witnessing in the
Bakken."
Jefferies & Company, Inc. acted as financial advisor to Intervention
Energy, LLC on this transaction.
ABOUT INTERVENTION ENERGY
Based in Minot, ND, Intervention Energy, LLC is one of the largest
privately held non-operating oil and gas exploration and production
companies focused on North Dakota and Montana. IE has participated in
over 100 wells targeting the Bakken or Three Forks formations and now
controls over 55,000 net mineral acres. Since its founding, IE has built
its mineral lease portfolio through selective acquisitions and has
partnered with leading operators active in the Williston Basin.
For more information, visit www.interventionenergy.com
or contact Darius Brooks at (701) 369-0368 or darius@interventionenergy.com.
ABOUT EIG
EIG Global Energy Partners is a leading institutional investor to the
global energy sector with $9.2 billion under management as of the
quarter ended September 30, 2011. EIG specializes in private investments
in global energy, resource and related infrastructure projects and
companies and was formerly the Energy & Infrastructure Group of Trust
Company of the West. During its 30-year history, EIG has invested over
$13 billion in the sector through more than 260 projects or companies in
33 countries on 6 continents. EIG's clients include many of the leading
pension plans, insurance companies, endowments, foundations and
sovereign wealth funds in the U.S., Asia and Europe. EIG is
headquartered in Washington, DC, with offices in Houston, London,
Sydney, and Hong Kong.
For more information, visit www.eigpartners.com.
Intervention Energy, LLC
Darius Brooks, 701-369-0368
darius@interventionenergy.com
Copyright © 2012, Business Wire, Inc., All rights reserved.
Copyright © 2012, NewsBlaze,
Daily News
Search News
