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Silver Hill Energy Partners has closed an oversubscribed commitment of $1.13 billion for its fourth venture private equity fund Silver Hill Energy Partners IV, the Dallas-based company said on July 31.
Silver Hill IV cements the company’s focus on direct ownership, operation and control of onshore oil and natural gas related assets across basins in the U.S., the company said. The company’s portfolio consists of operations across 55,000 net acres in East Texas and North Louisiana and 86,000 net acres in North Dakota.
“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,” Silver Hill Founder and CEO Kyle D. Miller said.
Capital commitments were received from institutional investors comprised of endowments, pension funds, medical and family foundations and family offices.
Since its inception in 2011, Silver Hill has raised $2.875 billion of cumulative capital commitments.
Silver Hill’s current positions are predominantly held-by-production and have over 600 combined locations equaling more than 11 years of inventory, Silver Hill said.
“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,” Miller said.
Since August 2021, the company has completed seven large-scale upstream transactions, with its latest announced deal an acquisition of Liberty Resources II— the company that launched Silver Hill into the Bakken.
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