ELLIPSIS U.S. ONSHORE HOLDINGS ACQUIRES ADDITIONAL ASSETS LOCATED IN THE DELAWARE BASIN

News provided by

Oct 16, 2023, 15:18 ET

DALLAS, Oct. 16, 2023 /PRNewswire/ -- Ellipsis U.S. Onshore Holdings LLC ("Ellipsis"), a portfolio company of Westlawn Group LLC ("Westlawn"), is pleased to announce the acquisition of additional assets located in the Delaware Basin of Texas and New Mexico. Ellipsis acquired non-operated oil and gas properties consisting of 3,000 net acres, current production of more than 3,000 boe/d (2-stream) and significant operational upside associated with approximately 900 gross remaining locations. Pro forma, Ellipsis anticipates fourth quarter production to average 7,000 boe/d (2-stream).

Managing Directors Matt Gentry and Adam Howard of Ellipsis, commented, "We are excited to continue to execute upon our non-operated strategy with Westlawn. The pipeline of marketed and off market opportunities continues to be robust as we approach the end of the year. Ellipsis encourages potential operating partners and those with non-operated assets to reach out, as we continue to build and deploy capital."

ABOUT ELLIPSIS U.S. ONSHORE

Formed in 2023, Ellipsis is a Dallas based private energy company focused on the acquisition and development of large, producing oil and gas assets in the United States. Ellipsis' initial strategy will be focused on acquiring non-operated working interests, as well as mineral and royalty interests, via acquisitions exceeding $100 million throughout the major onshore U.S. basins. Ellipsis strives to be flexible and creative with deal structure, including partnering with existing operators and sponsors to provide capital and liquidity solutions. Additionally, Ellipsis can participate alongside others in the evaluation and acquisition of new opportunities.

ABOUT WESTLAWN GROUP

Founded in 2021, Westlawn is a private investment firm based in Houston, TX focused on long-term investment in the global oil and gas industry. Westlawn acquires operated and non-operated interests in producing, development and exploration assets, as well as technologies that improve production. Westlawn is focused on investments across the United States (Lower 48, Gulf of Mexico and Alaska), as well as in Canada, Latin America, the Caribbean and the Middle East.

For questions or inquiries, please contact [email protected]

SOURCE Westlawn Group