US energy platform expands

A Denver-based energy platform backed by private equity firms, including EnCap Investments, CSFB Private Equity and Liberty Energy Holdings, today announced the completion of a $100m (€78m) add-on acquisition.

Medicine Bow Energy Corporation has acquired Edison Mission Energy Oil & Gas Company.

 

Money manager Kayne Anderson is also a capital provider to Medicine Bow, according to a press release.

 

Last June, EnCap, CSFB Private Equity and Liberty Energy, along with corporate sponsor El Paso Corporation, backed Medicine Bow in its acquisition of Ensign Oil & Gas from the Merchant Navy Officers Pension Fund, a British pension fund for retired naval officers. That acquisition involved the transfer of interests in substantial natural gas reserves.

 

Edison Mission Energy Oil & Gas was a division was of NYSE-listed Edison International. According to the press release, the acquired company’s principal asset is a 30% direct and indirect stake in Four Star Oil & Gas Company, an exploration and production company with assets located in the US’ western Rocky Mountain region, in the Midwest and throughout the Gulf Coast.

 

Medicine Bow is lead by president, chief executive officer and chairman Mitchell Solich. “The investment opportunities and substantial free cash flow captured by this acquisition advances our mission of creating value for our shareholders,” Solich said in the statement.