Ellipsis U.S. Onshore Holdings LLC (“Ellipsis”), a portfolio company of Westlawn Group LLC (“Westlawn”), has announced the acquisition of additional assets in several key onshore U.S. basins. The company’s strategic move includes acquiring non-operated oil and gas assets with current production exceeding 6,000 barrels of oil equivalent per day (boe/d) and substantial operational upside.

Details of the Acquired Assets

The acquired assets are located in major U.S. basins: the Permian Basin of Texas and New Mexico, the Denver-Julesburg Basin of Colorado, and the Texas-Louisiana Salt Basin of Louisiana. With this acquisition, Ellipsis anticipates its 2024 production to average over 13,000 boe/d, adding more than 1,900 remaining gross locations to its inventory.

Management’s Vision and Strategy

Ellipsis’ Managing Directors, Matt Gentry and Adam Howard, expressed their enthusiasm for this third significant acquisition, marking a major milestone for the company. They emphasized the focus on advancing their non-operated asset strategy in 2024, exploring both marketed and off-market opportunities. The company remains open to collaborating with potential operating partners and those with non-operated assets.

Legal Representation and Advisor Role

McDermott Will & Emery provided legal representation for Ellipsis in this transaction. Westlawn and Ellipsis expressed gratitude for their support and guidance throughout the process.

Ellipsis’ Focus and Strategy

Formed in 2023, Dallas-based Ellipsis is a private energy company focusing on the acquisition and development of large, producing oil and gas assets in the United States. The company’s initial strategy involves acquiring non-operated working interests, mineral and royalty interests, and partnering with existing operators and sponsors to provide capital and liquidity solutions. Ellipsis aims to be flexible and creative in deal structuring and actively seeks new opportunities for evaluation and acquisition.

Conclusion: Ellipsis’ Growing Presence in the Energy Sector

The acquisition by Ellipsis U.S. Onshore Holdings of these assets represents a significant expansion in the U.S. oil and gas industry. This strategic move not only enhances Ellipsis’ portfolio but also positions the company for continued growth and leadership in the energy resource development sector. With a focus on major U.S. basins and a commitment to strategic partnerships, Ellipsis is set to become a key player in the evolving landscape of the U.S. energy industry.

  Adam Howard, DJ Basin, Ellipsis U.S. Onshore Holdings, Matt Gentry, Permian Basin, USA, Westlawn Group