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Oil & Gas Reserves
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Our Oil & Gas Reserves team provides debt and equity capital for oil and gas reserves and wells, helping our partners focus on their strengths as operators.

  • Equivalent of
    26,000 barrels of oil
    a day produced by partnerships
  • Oil & Gas Reserves Projects

    (Click below to expand)

    Year
    Product
    Project
    Location
    2014
    LP
    Vess Oil Corp.
    College Station, TX

    GE Energy Financial Services, Vess Oil, Partner for Third Time to Acquire East Texas Oil and Gas Reserves

    COLLEGE STATION, TX, Jan 8, 2014 — GE Energy Financial Services, a unit of GE (NYSE: GE), has formed its third partnership with a Vess Oil Corp. affiliate to purchase oil reserves in East Texas for $108 million. The partnership is acquiring approximately 13,000 net acres and associated Woodbine production from an affiliate of EnerVest, Ltd. The assets are located approximately 20 miles northeast of College Station in Brazos, Madison and Grimes counties, and the target zones are the existing Woodbine and prospective Eagle Ford formations. GE Energy Financial Services invested $77 million for a majority stake and limited partner role, with a Vess Oil affiliate acquiring the remaining interest and serving as general partner and operator. Additional financial details were not disclosed. The companies partnered...

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    " We are excited to be partnering again with the Vess team. This transaction contributes to the growth not only of Vess but also the seller, EnerVest, both of which have played a significant role in our success over the past two decades. "
    — Ray Edgar Managing Director and leader of the Oil and Gas team at GE Energy Financial Services
    • Majority

      Limited Partership

    • 13,000 net acres

      oil & gas reserves

    Close
    2014
    Equity
    Casillas Petroleum
    Tulsa, OK

    GE Energy Financial Services and Casillas Petroleum Partner to Acquire Oil & Gas Reserves in Kansas

    TULSA, OK, Aug 5, 2014 — GE unit (NYSE: GE) GE Energy Financial Services has partnered with Casillas Petroleum Corp. to purchase oil and gas reserves in southwest Kansas from Cimarex Energy Co. (NYSE: XEC). The purchase marks the first collaboration between GE and Casillas Petroleum. Financial details were not disclosed. The assets include more than 500 producing wells spread across 14 counties in Kansas. Tulsa–based Casillas Petroleum will operate the properties and serve as the general partner of the partnership. GE Energy Financial Services will be the sole limited partner and will provide both acquisition and development capital to help grow the partnership's reserves. Greg Casillas, president of Casillas Petroleum, said, "Our investment with GE allows us to grow our business...

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    "Our partnership with Casillas Petroleum is another example of helping customers and GE grow through profitable investments in long-lived assets"
    — Ray Edgar Managing director and leader of the Oil and Gas team at GE Energy Financial Services
    • Partnership equity

    • More than 500 producing wells

      oil & gas reserves

    Close
    2014
    Financing
    All American Oil & Gas
    Bakersfield, CA

    GE Unit Lead-Arranges $200 Million Senior Debt Facility in One of the Largest Producing Oil Fields in the US

    BAKERSFIELD, CA, Oct 15, 2014 — GE unit (NYSE: GE) GE Energy Financial Services has arranged a senior secured revolving credit facility for All American Oil & Gas, Inc. to refinance debt and fund reserve development in the Bakersfield, California, Kern River Oil Field. The $200 million facility –– with a $131 million initial borrowing base –– was provided to oil and gas exploration and production company Kern River Holdings, Inc., a wholly-owned subsidiary of All American Oil & Gas, Inc. GE Energy Financial Services served as administrative agent and, through its GE Capital Markets, Inc. affiliate, acted as lead arranger and book runner. Additional financial details are not disclosed. The Kern River Oil Field was discovered in 1899 and covers 10,750 acres in the San...

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    GE Unit Lead-Arranges $200 Million Senior Debt Facility in One of the Largest Producing Oil Fields in the US

    "We are impressed with the management team and historical performance at Kern River Holdings, and look forward to helping the company grow with efficient capital solutions"
    — Carl Peterson Managing Director and Head of Energy Lending at GE Energy Financial Services
    • Producing

      ~70,000 barrels/day

    • 10,750

      acres

    Close
    2005
    LP
    F-W Oil Exploration L.L.C.
    Gulf of Mexico, US

    First Offshore Gas Reserves and Pipeline Construction Investments by GE's Energy Financial Services Unit, In Partnership with F-W Oil Exploration

    GULF OF MEXICO AND SOUTH PADRE ISLAND, TEXAS, Aug 22, 2005 — GE Commercial Finance Energy Financial Services announced today it has invested, for the first time offshore, $70 million in a limited partnership with F–W Oil Exploration L.L.C. to acquire and produce natural gas and associated liquid hydrocarbons in the Gulf of Mexico. Energy Financial Services will also finance the completion of a 48–mile pipeline system to transport gas from F–W's gas fields in the South Padre Island area.Located 12 miles offshore Texas, these South Padre Island fields represent the most significant asset within the partnership. The fields, owned 100% by the partnership, are shut–in pending completion of the pipeline installation scheduled in the fourth quarter of this year. This pipeline will transport more than 30 million cubic feet...

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    • 48–mile

      pipeline system

    • 30 million

      cubic feet equivalent of gas transport per day

    Close
    2005
    LP
    Locin Oil Corporation
    Pennsylvania and Ohio, US

    GE Commercial Energy Financial Services, Strategically Expanding Reserve Base, Partners with Locin Oil Corporporation to Acquire and Develop Appalachian Gas Fields

    PA. AND OHIO, Jun 2, 2005 — GE Commercial Finance Energy Financial Services and Locin Oil Corporation announced today the acquisition of 96 billion cubic feet (Bcf) of net proved gas reserves for approximately $147 million. The properties were acquired from Equitable Production Company and include approximately 1,200 wells in Pennsylvania and Ohio. In addition, a total of over 220 proven and probable, low risk, undeveloped drilling locations have been identified in the fields.Energy Financial Services holds a 95 percent limited partnership interest in NCL Appalachian Partners LP and will share in capital expenditures to develop the reserves. The principals of Locin Oil formed NCL Appalachia LLC to be the five percent General Partner and operator of the fields, which include 69 Bcf of net proved producing gas...

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    • 96 billion

      cubic feet of gas reserves

    • 1,200 wells

      and 220 proven and probable, low risk, undeveloped drilling locations

    Close
    2006
    LP
    Sunland Production Partners, L.P.
    Louisiana, North America

    GE Energy Financial Services Partners with Sunland Resources to Acquire and Develop Louisiana Gas and Oil Fields

    LOUISIANA, Oct 26, 2006 — GE Energy Financial Services and Sunland Resources, LLC announced today the acquisition of natural gas and oil reserves in northern Louisiana for $101 million. The properties were acquired from a consortium led by Caruthers Producing Co., Inc. and include 26 producing wells, two proved, developed nonproducing wells, and 11 low risk, proved, undeveloped drilling locations in the Caspiana and Black Creek fields.GE Energy Financial Services holds a majority limited partnership interest in Sunland Production Partners, L.P., the partnership formed with Sunland Resources, LLC for the reserve acquisition, and will share in capital expenditures to develop the reserves. Sunland Resources, LLC is the General Partner and Sunland Production Company, Inc. is the operator of the fields. Reserve...

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    • $101 million

      investment in natural gas and oil reserves

    • 26 producing well

      and two proved, developed non–producing wells,

    Close
    2006
    LP
    West Coast Energy Properties, L.P.
    California and Texas, US

    Clayton Williams Energy, GE Energy Financial Services Acquire California and Texas Oil & Gas Properties

    CALIF. AND TEXAS, Aug 14, 2006 — Clayton Williams Energy, Inc. (NASDAQ–NMS:CWEI) and GE Energy Financial Services announced today that an affiliated partnership, West Coast Energy Properties, L.P., has acquired certain producing oil and gas assets in California and Texas for $58 million.Clayton Williams Energy has attributed estimated proved reserves totaling 4.9 million barrels of oil and natural gas liquids and 3.7 Bcf of natural gas to the acquired properties. More than 60% of these estimated proved reserves are classified as proved developed producing reserves. Approximately 75% of the purchase price relates to properties in th ree fields in southern California, and the remaining 25% relates primarily to properties located in Mitchell County, Texas.West Coast Energy Properties, L.P. is a Texas limited...

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    • $58 million

      investment in O&G reserve assets

    • 4.9 million

      barrels of oil and natural gas liquids

    Close
    2007
    LP
    Bays Exploration Inc.
    Oklahoma, US

    GE Unit Invests $154 Million with Exploration Companies to Acquire Oil & Gas Reserves in Oklahoma and Texas, Invest in Field Development

    OKLA. AND TEXAS, May 8, 2007 — GE Energy Financial Services announced today it has partnered with two experienced operators to acquire $154 million in oil and gas reserves in Oklahoma and Texas.With Bays Exploration Inc., the GE unit acquired oil and gas reserves with significant development opportunities in western Oklahoma for $79 million. In addition, Energy Financial Services plans to invest up to $60 million for the development of the reserves. In the second transaction, GE Energy Financial Services partnered with Southern Bay Energy, a subsidiary of GeoResources, Inc. (NASDAQ: GEOID) to acquire oil and gas properties in the Austin Chalk trend of East Texas for $75 million. GE Energy Financial Services plans to invest an additional $27 million for the development of these properties.Additional financial...

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    • $60 million

      investment for development of O&G reserves

    Close
    2008
    LP
    TriTex Energy A, L.P.
    New Mexico, US

    In Fifth New Oil & Gas Investment This Year, GE Unit & Tritex Provide Up To $45 Million to Acquire, Develop Oil & Gas Reserves in New Mexico

    SOUTHEASTERN N.M., Nov 4, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has formed a partnership with TriTex Energy, LLC to acquire proved oil and gas reserves in southeastern New Mexico for $31 million. GE Energy Financial Services has invested more than $360 million in proved oil and gas reserves in five transactions this year, an annual record for the business.GE Energy Financial Services is investing $30 million as the 98 percent limited partner. TriTex Energy, LLC is investing the balance as the 2 percent general partner and operator. The new alliance, TriTex Energy A, LP, plans to invest an additional $14 million to develop and produce proved reserves over the next two years. Additional financial and operational details of the transaction were not disclosed.{{quote}}"This...

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    "GE was able to close this transaction in one of the most difficult banking and commodities markets imaginable. Their financial and technical strengths make them a great partner."
    — Don Ritter President of TriTex Energy, LLC
    • $31 million

      invesment in oil and gas reserves

    • $14 million

      expected investment for development and production

    Close
    2008
    LP
    OKLA Energy Partners, L.P.
    Oklahoma, US

    GE Unit and GeoResources Investing Up to $91 Million in Oklahoma Oil & Gas Reserves

    OKLA., Jun 2, 2008 — Partnering for a third time, GE Energy Financial Services, a unit of GE (NYSE: GE), and GeoResources, Inc. (NASDAQ: GEOI), a Houston–based exploration and production company, are investing up to $90.5 million to acquire and develop proven producing oil and gas reserves in Oklahoma.GE Energy Financial Services and GeoResources formed a new partnership, OKLA Energy Partners, LP, to acquire 82 percent of the assets from a group of private sellers. A wholly owned subsidiary of GeoResources will purchase the remaining 18 percent. The two entities entered into a purchase and sale agreement with the sellers to acquire the reserves for $60.5 million and expect to invest up to $30 million to develop additional proven reserves. The GE unit is investing 98 percent as limited partner in...

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    "The Oklahoma properties bring long–lived gas reserves and a large drilling inventory to our portfolio, establishing a significant footprint in Oklahoma for future expansion."
    — Frank A. Lodzinski Chief Executive Officer of GeoResource
    • 82%

      stake in oil and gas reserves

    • $30 million

      expected investment to develop additional proven reserves

    Close
    2008
    LP
    Union Gas Production Partners, L.P.
    Texas, US

    GE Unit and Union Gas Invest $115 Million to Acquire East Texas and Gulf Coast Oil & Gas Reserves, Plan $29 Million More in Field Development

    EAST TEXAS AND THE TEXAS GULF COAST, Apr 1, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has formed a partnership with a Union Gas Corporation subsidiary and related investors to acquire oil and gas reserves from two fields in East Texas and the Texas Gulf Coast for $115 million. GE Energy Financial Services is investing $104 million as the 90 percent limited partner. Union Gas is investing the balance as the 10 percent general partner and operator. The new alliance, Union Gas Production Partners, L.P., plans to invest an additional $29 million to develop and produce proved reserves over the next two years.Additional financial and operational details of the transaction were not disclosed."Our new partnership combines the Union Gas team's exploration and operating experience with the...

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    "Allying with a strong institutional partner allows us to accelerate the development of our reserves to grow our production and cash flow at reasonable costs."
    — Randy Lowry President of Union Gas
    • $115 million

      oil and gas reserves investment

    • $29 million

      expected investment to develop and produce proved reserves

    Close
    2010
    LP
    Marlin Permian, L.P.
    Texas, US

    GE Unit Partners with Independent E&P Companies to Acquire West Texas and Rocky Mountain Oil & Gas Reserves for $200 Million

    WEST TEXAS, Feb 10, 2010 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it has formed partnerships to acquire West Texas natural gas and North Dakota oil and gas reserves for a total of $200 million.In the first transaction, GE Energy Financial Services formed a partnership with independent oil and gas company Marlin Energy LLC. Their new alliance, Marlin Permian, LP, acquired natural gas reserves in West Texas from an undisclosed seller for $65 million. GE Energy Financial Services will serve as limited partner. Marlin Energy, based in Lafayette, LA, will serve as both general partner of the partnership and operator of the assets.In the second transaction, GE Energy Financial Services has formed a partnership with Sequel Energy, LLC to acquire oil and gas reserves in the Williston...

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    "GE Energy Financial Services' oil and gas partnership structure will help both Marlin and Sequel realize maximum potential from their respective acquisitions."
    — John Schaeffer Managing Director and head of the oil and gas unit at GE Energy Financial Services
    • $200 million

      investment in West Texas natural gas reserves

    Close
    2011
    LP
    PRE Resources, Inc.
    Wyoming and Colorado, US

    PRE Resources, GE Unit, Partner to Buy Rocky Mountain Oil & Gas Reserves

    WYO. AND COLO., Oct 13, 2011 — Expanding their Rocky Mountain oil and gas reserves footprint, PRE Resources, Inc. is teaming up with GE Energy Financial Services, a unit of GE (NYSE: GE), to buy more than 100 producing wells and undeveloped acreage across 29 fields in Wyoming and Colorado. GE Energy Financial Services provided $46 million and committed to additional capital expenditures to form a partnership with Denver–based PRE Resources to buy the fields spread across Weston, Campbell, Crook, Niobrara and Hot Springs counties, WY, as well as Moffat County, CO. The seller was undisclosed. PRE Resources is investing $5 million in the acquisition and will serve as general partner and operator, with GE Energy Financial Services serving as limited partner. The fields feature primarily long–lived oil...

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    • Expands

      Rocky Mountain oil and gas reserves footprint

    • 100+

      producing wells

    Close
    2012
    LP
    Burnett Petroleum Co.
    Texas, US

    GE Energy Financial Services Invests Approximately $31 million in Proven and Operational Oil Reserves in East Texas

    TEXAS, US, Jan 1, 2012 — GE Energy Financial Services committed approximately $31 million for an interest in the Talco Field, Titus and Franklin counties through a limited partnership with Dallas–based independent oil and gas company Burnett Petroleum Co. With this and other transactions, GE Energy Financial Services has invested more in oil and gas partnerships in Texas than in any other state.

    Read Full Press Release
    • $31 million

      investment in East Texas oil reserves

    Close
    2010
    Financing
    Knox Energy, Inc.
    Ohio, US

    GE Unit Expands Oil & Gas Investing - Introduces Loans for Development Drilling Unit

    COLUMBUS, OHIO, Oct 25, 2010 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it is expanding its oil and gas reserves investing business by offering loans for development drilling. In its first transaction involving this new product, GE Energy Financial Services has made a loan to Knox Energy, Inc. –– an exploration and production company based in Columbus, Ohio –– for drilling natural gas wells in central Ohio.Knox Energy will use the proceeds from the debt financing, for which financial details were not disclosed, to refinance its debt and provide capital to drill more shallow wells in a mature producing region."While we have offered reserves–based equity for more than a decade, this transaction with Knox Energy represents growth into a new...

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    • Introduction of

      new loan product for development drilling

    • Knox Energy

      signed on as first customer

    Close
    2011
    Financing
    Sterling Resources Ltd.
    North Sea, United Kingdom

    GE Energy Financial Services Launches North Sea Oil & Gas Development Lending Program

    LONDON, UNITED KINGDOM, Sep 15, 2011 — Launching a North Sea oil and gas development lending program, GE Energy Financial Services, a unit of GE (NYSE: GE), joined an existing group of financial institutions in a loan facility for Sterling Resources Ltd. (TSX–V:SLG). Of the GBP 105 million senior secured loan, GE Energy Financial Services has committed GBP 26.1 million.The Sterling transaction is GE Energy Financial Services' first development financing in the North Sea, complementing the existing focus of its oil and gas team. Since 1991, GE Energy Financial Services' Oil and Gas team has provided more than $4.5 billion in partnership equity and debt to independent private and public oil and gas operators in the United States. The oil and gas team is active in all major onshore basins and in the Gulf of...

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    • GBP 105 million

      senior secured loan facility

    • First North Sea

      development financing

    Close
    2012
    Financing
    Xcite Energy
    North Sea, United Kingdom

    GE Energy Financial Services Joins Leading Lenders in Signing of US$155 Million Reserves Based Loan Facility for Xcite Energy

    NORTH SEA, UNITED KINGDOM, Sep 22, 2012 — Xcite Energy is pleased to announce that it has signed a US$155 million secured reserves based loan facility agreement (the "Facility") for the Bentley field with a leading group of lending institutions. The Facility, with a term of five years, will be used to provide a substantial part of the funding required for the Phase 1B development of the Bentley heavy oil field in the UK North Sea. The Facility has been arranged with Royal Bank of Scotland plc, Societe Generale Corporate & Investment Bank, GE unit GE Energy Financial Services, Nedbank Limited, and Britannic Strategies Limited (a subsidiary of BP plc). Royal Bank of Scotland is acting as the Facility agent and security trustee, with Societe Generale acting as technical and modelling bank. The draw down under...

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    • Investment in Xcite Energy

      Third North Sea

    • Oilfield Development Financing

    Close
  • Products

    Reserve Monetization

    Sale of existing properties owned and operated by a customer into a partnership in which the customer would retain an economic interest and operating control.

    Benefits to Customers:
    • Alternative to outright sale
    • Liquidity in the form of cash proceeds
    • Ability to reallocate capital from lower yielding PDP to higher yielding E&P investments
    • Continued control of perations (including COPAs overhead charges)
    • Participation in upside through a back-in
    • Continued presence in a geographical area
    • Reliance of Limited Partner on customer for operating management (Limited Partner consent required major actions - drilling, development, dispositions, etc.)
    Financial Impact to Customers:
    • Infusion of cash
    • Sale of reserves to newly formed partnership...reserves more from customer balance sheet to partnership balance sheet

    Joint Acquisition

    Customer and EFS's Oil and Gas groups jointly acquire a set of properties from a third party seller through a Partnership in which the customer would have an economic interest and operating control.

    Benefits to Customers:
    • Leverage acquisition capital (up to 95% financing)
    • Preserve liquidity under any senior bank facilities
    • Gain control of operations (including COPAs overhead charges)
    • Participate in upside through a back-in
    • Establish or enhance a presence in a geographical area
    • Work with Limited Partner who relies on customer for operating management (Limited Partnership consent required for major actions - drilling, development, dispositions, etc.)

    Divestiture

    The Oil and Gas group, through its strategic partnership network, is continuously looking to acquire oil and gas reserves that match our investing criteria of long lived, predominantly PDP reserves. The deal preference section outlines all of our preferred characteristics.

  • Basic Terms

    Amount

    $10 million minimum investment.

    Operations

    Partner operates properties and handled day-to-day property management; major decisions are handles at the Partnership level.

    Preferred Returns

    Approximately 15% target returns (pre-back in) based upon specific transaction details such as asset type, cash flow profile, operating margin, production risks, etc.

    Price Hedge

    Partnership mitigates commodity price risk through financial hedges or physical contracts.

    Property Type

    Long-lived Proved Reserves with a 70% PDP value mix. Low risk, conventional, onshore production with established histories and low operating costs. Control of operations rests in a majority of the properties.

    Risking

    Reserves are risked according to classification.

    Scale

    Limited Partnership in which EFS invests from 75% - 95% of equity capital as a limited partner (up to 99% in select cases). The customer would retain an interest as a general partner and share in the upside residual through an increased back-in after limited partner achieves target rate of return.

    Term

    Long-term investment outlook; typical holding period of 3 - 5 years, but would opportunistically exit.

    Valuation

    Valuation based on independent engineering and forward price curve.

  • Map of Transactions

    EFS Oil & Gas (Page Loading...)
  • Getting Started

    1. Review our site

    Take a look at some of the recent transactions we have completed in transactions and the types of properties and transactions we prefer in deal preferences. We hope our products and structures fit your needs.

    2. Document review

    Please take a moment to familiarize yourself with our terms.

    3. Click here; We'll call you

    Please provide your name, phone number, email, and a brief description of your project.

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