Silver Hill Energy Partners has signed definitive agreements with Liberty Resources II, a privately held, Denver-based oil and gas company, to acquire Liberty’s interests in oil and gas properties, rights and related assets in North Dakota and 100 percent of Liberty Midstream Solutions, a midstream oil and gas company with gas gathering, gas processing and produced water logistics assets in North Dakota.
The acquisition is expected to close March 14.
Silver Hill plans to fund the acquisition with a combination of equity from Silver Hill Energy Partners III (SHEP III) and another Silver Hill-sponsored partnership as well as senior bank debt from each partnership’s credit facilities. Consistent with Silver Hill’s track record in its current and historical operating areas, it intends to use this initial transaction as a springboard for future growth in the area through additional bolt-on acquisitions and related investments in upstream, midstream, minerals and royal