28 Jun OneRock Energy Announce Acquisition of Northwoods Energy
HOUSTON–(BUSINESS WIRE)–OneRock Energy Holdings, LLC (“OneRock”) today announced that it has entered into a definitive purchase agreement to acquire Northwoods Management Company and certain related entities (collectively, “Northwoods”). Northwoods owns highly productive assets located in the Powder River Basin, producing approximately five thousand barrels of oil equivalent. The asset encompasses an extensive expanse of over 160,000 predominantly contiguous net acres of leasehold interests in Converse, Campbell and Johnson Counties in Wyoming. The transaction remains subject to customary terms and conditions and is expected to close in the third quarter of 2023, with an effective date of June 1, 2023.
“We consider this acquisition to be a pivotal move for OneRock, solidifying our position with a robust presence in resource-rich unconventional plays,” stated Daniel Fan, Partner and Head of North American E&P Investments at Pan Management. “It represents a crucial component of our growth strategy into the E&P business, while concurrently expanding our commodity optionality and seamlessly aligning with Pan Management’s overarching investment strategy. We anticipate leveraging the OneRock platform to acquire further assets and strategically expand our footprint.”
Willkie Farr & Gallagher LLP acted as legal advisor to OneRock.
About OneRock Energy
OneRock Energy Holdings is a Houston-based oil and gas private equity firm and the upstream investment arm of Pan Management. With a dedicated focus on identifying and seizing acquisition and development opportunities, OneRock is committed to fostering growth and unlocking the value of oil and gas assets.
About Pan Management
Established in 2013, Pan Management is an energy investment firm headquartered in Houston, Texas, with expertise spanning natural gas trading, upstream oil and gas investment and midstream oil and gas investment. The leadership team boasts decades of combined investment experience in the energy industry, overseeing a portfolio of over $2 billion of assets under management.
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Keith Byers
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