“Indigo Minerals Completes Capital Raise and Acquisition”
Indigo Minerals LLC (“Indigo” or the “Company”) announced today the completion of a $375 million equity capital raise and the acquisition of certain producing properties and undeveloped acreage in the core of the Cotton Valley and Haynesville plays from a private exploration and development company. Pro forma for the acquisition, Indigo holds approximately 160,000 net acres in Northwest Louisiana and East Texas in addition to a significant portfolio of minerals and leasehold interests across 15 states. Indigo is the tenth largest private producer of natural gas in the United States with year-end SEC proved reserves of 1.27 Tcf.
The capital raise was led by Trilantic Capital Management L.P. (“Trilantic North America”), which invested $300 million in Indigo, in partnership with the Company’s existing investors, including the Martin Companies, L.L.C. (“Martin Companies”), Yorktown Partners LLC (“Yorktown”) and Ridgemont Equity Partners (“Ridgemont”), who together invested $75 million of additional equity in the Company.
Yorktown was advised by Thompson & Knight LLP.