click here for detailed map |
Mississippi Resources, LLC
is an independent exploration and production company established in
November 2009. Mississippi Resources, through funding from Lucas
Energy Ventures III, LP, originally acquired all of the oil & gas
assets of Cimarex Energy Co. within the State of Mississippi.
Mississippi Resources completed its second major acquisition from
Quantum Resource Management in August 2012. This $23.5MM
acquisition added another twelve operated wells in four fields
within Mississippi and Alabama, and has doubled the company's daily
production output. Mississippi Resources now operates 32 wells,
with an interest in 63 wells, and over 25,000 net acres of mineral
leasehold in the states of Mississippi and Alabama. In June 2014,
Mississippi Resources, LLC closed a senior debt and preferred equity
investment with TPG Specialty Lending, Inc. for a maximum amount of
$55.5 million. The funds will be used to retire debt, buy out the
preferred equity outstanding, provide additional capital to fund the
company's development drilling plans, and to acquire additional
acreage adjacent to the existing lease holdings.
Mississippi Energy Partners, LLC is the managing partner of
Mississippi Resources. Three men of the four man management
team of Mississippi
Energy Partners are ex-Cimarex employees with extensive oil and gas exploration and production
experience within the Mississippi and Gulf South Regions.
Mississippi Resources intends to grow production through strategic acquisitions
within its core areas, and the implementation of low risked
drilling opportunities. The exploitation drilling will consist of
both salt dome and inter-domal wells near existing fields and
infrastructure.
Management prefers to operate its assets in order to control
completion techniques, operational efficiencies and expenditures.
IN THE NEWS
Mississippi Resources, LLC
Announces Investment from TPG Specialty Lending, Inc.
The Right Experience to Take the Right Risks - US Business
Executive magazine - go to page 77 to view
article
|
Mississippi Resources, LLC was formed to capitalize on the extensive experience
of our management team in order to grow assets of Mississippi Resources through
strategic acquisitions and low-risk drilling opportunities within the Interior
Salt Basin of Mississippi and Gulf South Region with the goal of maximizing asset market value through a
strategically timed liquidation event.
|