Silver Hill Energy Partners, LP Closes Oversubscribed $1.13 Billion Fund for Fourth Venture Focused on Direct Investments in Premier Oil and Gas Basins Across the U.S.
- Company remains focused on direct investments in high-quality, active basins via continued acquisition, optimization and development of operated oil, natural gas and related infrastructure properties across the Lower 48.
- Current portfolio consists of large-scale production and development operations with more than a decade of drilling inventory across ~55,000 net acres in the Haynesville Shale of East Texas and Louisiana and ~86,000 net acres in the Bakken Shale of North Dakota.
- Since August of 2021, the company has completed seven large-scale upstream acquisitions, two midstream infrastructure projects supporting its upstream operations, and dozens of complementary mineral and royalty acquisitions while executing on active development plans across three major basins and realizing a successful full-cycle investment in South Texas.
- Since its inception in 2011, the company has raised $2.875 billion of cumulative capital commitments.
DALLAS–(BUSINESS WIRE)–Silver Hill Energy Partners, LP (“Silver Hill”) announced today the closing of its fourth partnership and second institutional private equity fund, Silver Hill Energy Partners IV, LP (“Silver Hill IV”). Silver Hill IV was oversubscribed at closing, with total capital commitments of $1.13 billion from a group of institutional investors comprised of endowments, pension funds, medical and family foundations and family offices, the majority of which are repeat investors.
The formation of Silver Hill IV represents a continuation of the company’s founding focus on the direct ownership, operation and control of onshore oil, natural gas and related infrastructure assets in premier basins across the U.S. Since its inception in 2011, the company has raised $2.875 billion of cumulative capital commitments.
CEO Perspective
“The strong demand and oversubscribed interest we experienced with Silver Hill IV is reflective of institutions’ continuing appetite for compelling risk-adjusted returns in the energy sector,” said Silver Hill Founder and CEO Kyle D. Miller. “We are proud of the high-quality portfolio we have strategically built and developed over the last several years, and we are extremely grateful for our partners and the shared sentiment they’ve shown through their support of our latest fund.”
Miller added, “We will continue to look for ways to drive value through the development of our existing Haynesville and Bakken assets while we evaluate creative ways to grow our portfolio in both current and additional operating areas. Looking to the future, we remain committed to the safe and responsible development of oil and gas assets and environmentally-conscious operations evidenced by reductions of emissions and improved carbon footprints on every set of properties we have acquired.”
Company Overview
Silver Hill is focused on acquiring, optimizing and developing oil and natural gas properties in high-quality, active basins throughout the onshore U.S. Since August 2021, the company has completed seven large-scale upstream transactions, two midstream development projects supporting its upstream operations, and dozens of complimentary mineral and royalty acquisitions. The company also realized a successful full-cycle investment of its Eagle Ford assets located in South Texas. Today, Silver Hill’s portfolio consists of large-scale production and development operations across ~55,000 net acres in East Texas and North Louisiana prospective for the Haynesville and Bossier formations and ~86,000 net acres in North Dakota prospective for the Bakken and Three Forks formations. The Haynesville and Bakken positions are predominantly held-by-production and have more than 600 combined locations equating to more than 11 years of inventory at accelerated development cadences. Silver Hill is actively developing both assets with one operated rig running in each region.
Aviditi Advisors and Willkie Farr & Gallagher LLP, served as Silver Hill’s placement agent and legal counsel, respectively, during the fundraising process.
About Silver Hill Energy Partners
Silver Hill Energy Partners is based in Dallas and was founded in 2011 by Kyle D. Miller to provide a long-term vehicle for profitable energy development across the U.S. From 2011 through 2017, Mr. Miller and his team assembled what was, at the time, the largest privately held contiguous acreage position in the Delaware Basin of West Texas through multiple operating companies and strategic joint ventures that successfully acquired, developed and ultimately sold large-scale unconventional oil, natural gas and related infrastructure assets. Silver Hill I & II generated strong risk-adjusted returns across cycles for a diversified base of investors, including private equity, institutions and family offices. The formation of Silver Hill III followed the successful merger of Silver Hill I & II’s upstream assets into RSP Permian, Inc. for $2.5 billion in cash and stock. For more information, please visit silverhillenergy.com.
Contacts
Redbird Communications
Meggan Morrison
