Spurred by the success of Trail Ridge Energy Partners, which was formed in 2008 funded by Management and a private equity commitment from the Kayne Anderson Energy Fund, Trail Ridge Energy Partners II kicked off in 2012 with seed capital from Management and private investors before obtaining additional private equity from Trilantic Capital Partners and Riverstone Holdings.
Headquartered in Grapevine, Texas, the newly formed exploration and production company targeted emerging resource oil plays in West Texas’ Permian Basin.
In its development approach, the company attacked its subsurface modeling by acquiring 3-D seismic and preparing a geological and reservoir model that is further calibrated to actual reservoir performance.
The company commenced operations in the Midland Basin’s Cline Shale – Wolfcamp ‘D’ oil play in eastern Scurry County, Texas in 2013 on its 70,000 contiguous net acres targeting the Wolfcamp D and Mississippian Lime before shifting its focus to recently acquired producing properties and undeveloped acreage in the heart of the Midland Basin.
In March 2017, Trail Ridge Energy Partners II sold its assets to Lario Oil & Gas. Shortly thereafter the management team formed Three Peaks Resources which is focused on the acquisition of non-operated interests in the Williston Basin.
In June 2017, Three Peaks Resources LLC kicked off with seed capital from Management and co-investors. Over the course of the next year Three Peaks evaluated over $60 billion worth of assets throughout the Williston Basin. In August 2018, Three Peaks closed its initial private equity funding with its long-time partners Waveland Energy Partners. Since that time over $100 MM in Williston Basin assets have been or are in the process of being acquired. Three Peaks continues to evaluate additional acquisition opportunities and to seek additional sources of capital to fund their acquisitions.