OTPP, RedBird Capital, Aethon Energy partner in purchase of J-W Energy’s oil and gas assets
Ontario Teachers’ Pension Plan (OTPP) has partnered with RedBird Capital Partners and Aethon Energy Management LLC in the acquisition of J-W Energy Company’s upstream and midstream oil and gas assets located in northeast Texas and north Louisiana.
Located in north Louisiana and northeast Texas, J-W Energy’s assets comprise approximately 84,000 net acres and 380 miles of associated gathering and processing infrastructure. The collective reserve base of the J-W assets combines low risk, long life, and highly predictable production with attractive development opportunities.
“We are looking forward to partnering with Aethon, a proven firm with an exceptional track record and strong alignment with Ontario Teachers’, as well as expanding our strategic relationship with RedBird,” says Jane Rowe, Senior Vice President of Private Capital. “These assets are a strong fit with our private equity energy portfolio and represent a compelling investment opportunity with an established base of long-life proven reserves and attractive growth opportunities.”
Albert Huddleston, Founder & Managing Partner of Aethon, adds, “We are excited to partner with Ontario Teachers’ and continue our long-standing partnership with RedBird to acquire J-W Energy’s high quality, low risk, unconventional assets, which continues to expand our acreage in the Arkansas-Louisiana-Texas area. The J-W Energy assets help to diversify and expand our existing portfolio, and highlights Aethon’s ability to identify attractive E&P assets, offering strong risk-adjusted returns in the current market environment and in the future.”
“Aethon has been a tremendous partner with RedBird in the build-up of our collective energy investments, and we’re excited to expand this partnership with our friends at Ontario Teachers’ with whom we have a very strong strategic relationship,” says Hunter Carpenter, Partner at RedBird Capital.