Trilantic Capital Management L.P. (“Trilantic North America”), Waveland Energy Partners, LLC (“Waveland”), and management team members today announced an equity commitment to invest in DJR Energy, LLC (“DJR”), a newly-formed, Denver, Colorado-based exploration and production company focused on developing oil and gas resources of the San Juan Basin of New Mexico. DJR will be led by CEO David H. Lehman, a geologist and entrepreneur with over 40 years of experience in the oil and gas industry, and an impressive track record of value creation in the greater Rockies region.
Initial proceeds from Trilantic North America and Waveland’s equity commitment were used to close the acquisition of assets in the San Juan Basin from a private exploration and development company.
“We believe the San Juan Basin is at an attractive stage of its development and we are thrilled to partner with an experienced Rockies focused management team and Waveland to pursue this growth opportunity”, said Glenn Jacobson, a Partner at Trilantic North America. Added Lehman: “We are excited to team up with two experienced oil and gas financial partners and build a highly profitable business in the San Juan Basin of New Mexico”.
Trilantic North America was advised by Latham & Watkins LLP. Waveland was advised by Davis Graham & Stubbs LLP. DJR was advised by Duane Morris LLP and Rivington Securities, LLC.
About Trilantic North America
Trilantic Capital Management L.P. is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer and energy sectors. To date, Trilantic North America's energy team has committed approximately $3.4 billion in capital across 25 energy investments. Trilantic North America currently manages four private equity fund families with aggregate capital commitments of $5.9 billion.
Waveland is a private equity firm with an investment focus on the upstream E&P energy space. With competitive returns and attractive taxation treatments, oil and gas investments have been a cornerstone of diversified portfolios for decades. Waveland has developed an infrastructure of operations and energy partners to be able to provide investors with opportunities in this rapidly growing sector of the US economy.
Since 2002, the DJR Energy management team has delivered exceptional returns to investors via the successful creation and sale of two companies in the DJ Basin of Colorado (DJ Resources LP and DJ Resources LLC). With DJR Energy, LLC, this highly talented management team has turned their attention to the San Juan Basin of northern New Mexico. With a footprint of over 165,000 net acres, DJR Energy is dedicated to establishing a premier position in the San Juan Basin, building upon existing operations and adding reserves via the drill bit.