Vitol and the management of ATX Energy Partners, LLC are pleased to announce the formation of VTX Energy Partners, LLC (“VTX” or the “Company”).
VTX will seek to acquire, develop and operate large-scale upstream assets in established U.S. lower 48 basins. The Company will target opportunities with established production and development profiles, including those in the southern Delaware Basin and the Williston Basin, where the management team has demonstrated a track record of success.
Gene Shepherd, CEO of VTX Energy Partners stated, “Our team has been focused over the last 12 months on building a large asset position in one of the established U.S. lower 48 basins. We are ecstatic to partner with Vitol on this effort, from both the standpoint of their access to capital and the highly developed insights and expertise their organization brings in commodity markets, including all activities immediately downstream from our drilling, completion and operational activities.”
Ben Marshall, Head of Vitol Americas said, “The VTX partnership underscores our continued interest in growing our upstream portfolio in the U.S. Lower 48. The team has a remarkable track record and we are excited about their prospects for repeating prior successes. VTX will complement Vencer Energy, our existing upstream partnership in the Midland Basin.”
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About VTX Energy Partners, LLC
VTX Energy Partners will be the successor company to ATX Energy Partners, an Austin-based oil and gas company pursuing an acquisition and development strategy in the U.S. Lower 48. The management team has a proven track record of prudent asset management and value creation dating back to Brigham Exploration, which sold to Statoil for $4.7 billion in October 2011, and Brigham Resources, which sold to Diamondback Energy for $2.4 billion in December 2016. Please direct all business development inquiries to BD@vtxep.com.