- Silver Hill Energy Partners, LP raised the $1,020,000,000 oversubscribed fund at an upsized hard cap from institutional investors comprising endowments, pension funds, medical and family foundations and family offices.
- The fund was formed to pursue direct investments in the acquisition and development of operated oil, natural gas and related infrastructure assets across the Lower 48.
- Silver Hill III has closed five sizable acquisitions in the Haynesville Shale and South Texas over the past year and is actively developing its assets with three operated rigs and the build-out of related infrastructure.
Silver Hill Energy Partners, LP (“Silver Hill”), announced that it has closed the franchise’s third partnership and first institutional private equity fund, Silver Hill Energy Partners III, LP (the “Partnership”), representing total capital commitments of $1,020,000,000. The Partnership has formed Silver Hill Energy Partners III, LLC, Silver Hill III Midstream, LLC and other regional affiliates (together with the Partnership, “Silver Hill III”), which is focused on the direct acquisition and development of operated onshore oil, natural gas and related infrastructure assets in premier basins across the U.S.
“Silver Hill is strongly committed to responsible and environmentally-conscious development of energy resources in the United States,” said Silver Hill Founder, President and CEO Kyle D. Miller. “Through our direct partnership with like-minded institutional partners, we are uniquely positioned to make rapid decisions as attractive oil and gas assets become available for acquisition.”
Miller added, “We have a tenured, multi-disciplinary team of leaders who have experience building and managing large-scale oil and gas companies; operating and developing oil and gas assets; and sourcing, evaluating and underwriting oil and gas investments. I particularly want to thank our partners for providing their full support as we continue to grow this strong franchise with Silver Hill III. Our goal, as always, is to generate compelling risk-adjusted returns and outcomes for all of our stakeholders, including our investing partners, the communities in which we operate and the landowners, employees, and contractors we support.”
Silver Hill Energy Partners was formed in 2011 with a focus on the direct ownership and operation of oil, natural gas and related infrastructure assets. Prior partnerships built, developed, and monetized assets in the Delaware Basin of West Texas. Today, after five upstream acquisitions across the Haynesville Shale and South Texas since August 2021 and significant subsequent development activity, Silver Hill III’s asset portfolio consists of approximately 250 MMcf/d (net) of dry natural gas production from 75 producing wells and approximately 150 gross drilling locations across approximately 30,000 net acres prospective for the Haynesville, Eagle Ford and Austin Chalk formations. Silver Hill III is currently running three operated rigs in the Haynesville Shale and South Texas while its working interest partners operate a fourth rig in the Haynesville. In addition to its upstream activity, Silver Hill III is actively developing meaningful new midstream infrastructure projects in both the Haynesville and South Texas.
Aviditi Financial, LLC and Shearman & Sterling LLP served as Silver Hill’s placement agent and legal counsel, respectively, during the fundraising process.