Sheridan Closes $1.3 Billion Oil & Gas Investment Fund

Sheridan Production finalizes closing of Sheridan Production Partners, L.P., a specialized $1.3 billion fund that will invest in mature oil and gas assets located in diverse basins across the United States.

"We're pleased to have the resources of a dedicated fund at a time when there is an increased focus on energy operations and optimization and a particularly attractive supply and demand dynamic for mature properties," said Lisa Stewart, Chief Executive Officer of Sheridan Production Partners. "We have a strong team of seasoned oil and gas executives with whom I have successfully worked for more than a decade. We look forward to working together to capture many of the opportunities in today's market."

Sheridan Production Partners was established by Lisa Stewart, former Executive Vice President of El Paso and President of El Paso Exploration & Production Company, and Warburg Pincus, the global private equity firm. Sheridan will benefit from Warburg Pincus' extensive network of relationships throughout the oil and gas industry, its investment experience in the energy industry and its deep understanding of and access to energy capital markets.

Jeffrey A. Harris, a Managing Director and partner at Warburg Pincus's energy practice, said: "Lisa Stewart and Sheridan's senior management team have an excellent track record and tremendous experience both in acquiring and operating mature oil and gas assets. The team's quality reputation and expertise position them to build a geographically diversified portfolio of oil and gas properties while generating superior risk-adjusted rates of return."

With the close of Sheridan Production Partners, L.P., the fund will seek to acquire a portfolio of mature properties across the United States and optimize operations through accelerated production, recovery enhancement and additional capital.

Company: Sheridan Production Partners, L.P. more info
 - Sheridan Closes $1.3 Billion Oil & Gas Investment Fund (Aug 08)