ROHSTOFF INTERNATIONAL

23:56 | 16.04.2018
Drillcore Energy Partners, LLC Announces $250MM Private Equity Fund to Pursue Oil & Gas Investments

Drillcore Energy Partners, LLC (“Drillcore”, or the “Firm”), a New
York-based private equity firm, today announced that it is seeking a
target of $250 million (MM) for its first private equity fund “Fund I”
to make value-enhancing investments in the upstream oil and gas sector
located in the continental United States.

Drillcore seeks to allocate the capital raised from limited partners
(“LPs”) for its pipeline of proprietary deal flow, including an
inventory of pending acquisitions that have already been placed under
letter of intent (“LOI”). The Firm is working with proven management
teams with exceptional track records of success providing growth capital
to acquire and exploit multiple onshore basins with low-risk development
opportunities with existing production. The investor base for Fund I
comprises state and corporate pension funds, insurance companies,
sovereign wealth funds, asset managers, family offices, high net worth
individuals and endowments.

Drillcore seeks to close the fundraise for its inaugural fund this
summer.
Drillcore Management:Drillcore is led by Founder and
Managing Partner Evan Turner, formerly a Director and Head of Energy at
StormHarbour Partners and a founding member of CohnReznick Capital’s Oil
& Gas Group. Prior to this, Mr. Turner worked for Canaccord Genuity,
Global Data Ltd. and Horizon Well Logging. Complimenting Mr. Turner is
an experienced group of senior principal investment and energy
professionals with complementary skill sets and backgrounds who
collectively bring more than 100 years of industry experience to our
partners and investments. The team has substantial experience leading
successful oil and gas companies and investments in the space. Drillcore
works closely with industry veterans as both operating partners and
advisors, enabling the team to optimize the portfolio’s value for its LP
base.

Mr. Turner stated: “Since launching Drillcore in early 2018, we have
successfully sourced a number of proprietary, negotiated transactions
for our initial portfolio of investments. Our creative capital
structures enable our partners to maintain control of their businesses
while Drillcore facilitates long-term growth and value-creation. We look
forward to working with our industry partners and our new investors to
execute these investment opportunities.”

Mr. Turner added: “Drillcore has an ability to value-up assets by
investing expansionary capital to management teams to acquire bolt-on
acquisitions, improve operational efficiencies, and use modern,
innovative technology for the re-development of existing assets that
have been overlooked. In many cases, these targeted assets are
positioned with stacked pay zones across their acreage position but have
historically been drilled only by vertical wells. We look to fund
horizontal drilling to extract greater value from the reservoirs in our
investments. Drillcore fills the void in the middle-market upstream
sector that are often overlooked by larger funds, by targeting
investments around $75MM per deal.”
About Drillcore Energy Partners, LLC:Drillcore is a New
York-based private equity firm focused on middle-market oil and gas
investment opportunities in the U.S. Drillcore has an additional
presence in Houston. Drillcore seeks control equity investments and
provides growth equity capital to oil and gas companies across select
delineated onshore basins in partnership with disciplined and
experienced management teams, with deep basin-specific expertise, to
build successful businesses. We partner with skilled entrepreneurs and
business leaders, providing deep technical and energy expertise,
creative capital solutions, and strategic support to earn attractive
risk-adjusted returns for our investor base. For more information about
Drillcore, please visit www.drillcorepartners.com.
Under no circumstances does the information contained herein
constitute an offer to sell or a solicitation of an offer to buy any
security or interest in an investment vehicle managed by Drillcore
Energy Partners. Any such offer or solicitation can only be made through
a definitive private placement memorandum describing the terms and risks
of an investment to sophisticated persons who meet certain
qualifications under the federal securities laws and are capable of
evaluating the merits and risks of the investment. Nothing presented
herein is intended to constitute investment advice, and no investment
decision should be made based on any information provided herein. It
should not be assumed that an investment will be profitable or that the
performance of any particular investment will equal its past
performance. No guarantee of investment performance is being provided
and no inference to the contrary should be made. There is a risk of loss
from an investment in securities, including the potential loss of
principal. Past performance is not indicative of future results.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180416006556/en/


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