?Dallas-based private-equity firm HM Capital Partners LLC has acquired TriDimension Energy, Dallas, (fka Ram Oil & Gas LLC) for an undisclosed price. TriDimension’s focus is finding oil in existing fields and redeveloping of historic fields. The company owns an interest in 86 producing wells in 36 fields in Louisiana, Mississippi and Texas.
Production is 1,400 gross bbl. per day. Proved reserves are 6.5 million BOE. TriDimension operates the majority of its production through affiliate Axis Onshore LLC, currently the third-largest producer in the Monroe, La., district, according to the company.
TriDimension chief executive James P. Ryan will continue in that role. The TriDimension management team will reinvest a substantial portion of its proceeds from the transaction to acquire a significant minority stake alongside HM Capital.
HM Capital partner Jason Downie says, “The acquisition of TriDimension Energy reflects the continued execution of our upstream strategy of investing in lower-risk, exploitation-based oil and gas companies. TDE’s experienced management team, with its solid industry relationships, has positioned the company for continued growth through internal initiatives and acquisitions.”
?Ryan says, “We are delighted to have attracted the interest of a top-tier energy investor that shares our vision for TDE’s future. HM Capital has a track record of creating value by supporting experienced management teams and bringing to bear its exceptional strategic and operational resources.”
The acquisition of TriDimension is the fifth investment by HM Capital’s Sector Performance Fund LP.
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