Financial Advisor
Elm Ridge Exploration Company, LLC
M&A Advisory
Has Divested Its Upstream And Midstream Oil And Gas Assets In The San Juan Basin
Transaction Details
- On April 28, 2017, Elm Ridge Exploration Company, LLC (“Elm Ridge” or the “Company”) completed the sale of its San Juan Basin upstream and midstream oil and gas assets to undisclosed parties
- The assets were sold to two parties, with one party acquiring the Colorado assets and the other party acquiring the New Mexico assets
- The Company’s upstream assets consisted of more than 350 producing wells and undeveloped upside potential in the San Juan Basin in the Mancos / Gallup, Fruitland Coal, Mesaverde, Pictured Cliffs, Chacra, and Dakota Formations
- The Elm Ridge acreage position covered approximately 185,000 net acres in New Mexico and Colorado
- The Company’s midstream assets consisted of the more than 150 miles of gas gathering lines and associated gas processing and treating plants in Colorado and New Mexico
- Stephens Inc. served as exclusive financial advisor to Elm Ridge in this transaction
About the company
Elm Ridge is a private company based in Dallas, Texas engaged in the acquisition, development, exploration and production of oil and natural gas interests in the San Juan Basin.
Source: Company information.
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