ORIX Energy Capital Announces $30 Million Senior Debt Financing Agreement with Campbell Development Group
September 13 2016 - 12:01PM
Business Wire
ORIX Energy Capital provided $30 million in senior secured debt
financing to Campbell Development Group LLC for the acquisition of
the Illinois Basin long-life mature oil-producing assets from Rex
Energy. The assets include approximately 76,000 net acres
in Illinois, Indiana and Kentucky, and are
currently producing approximately 1,700 net barrels per day.
“Campbell has exhibited strong historical performance in the
Illinois Basin and currently operates assets in the vicinity,” said
Josh Mayfield, Head of ORIX Energy Capital. “Their knowledge and
expertise, combined with their experienced leadership team, gives
us confidence that they are the right operator for the asset.”
Founded in 2008 as an independent oil and gas operating company,
Campbell Energy—a division of Campbell Development Group—is one of
the largest oil producers in the Illinois Basin, while Campbell
Enterprises of Illinois is the largest well service company in the
Illinois Basin. Campbell Energy and affiliates have serviced over
1,000 wells in the Illinois Basin.
“ORIX Energy Capital brought the expertise and deep industry
relationships that allowed us to move quickly,” said Jakob
Campbell, President for Campbell Energy. “We were able to close the
deal in four weeks. The team at ORIX Energy Capital displayed a
creative approach, long-term focus and flexibility that were the
key drivers in us selecting them.”
Campbell Development Group was advised exclusively by KLR Group
LLC.
ORIX Energy Capital
ORIX Energy Capital (OEC) provides private debt and equity
capital across a broad range of energy-related companies, including
exploration and production, midstream, and services, throughout the
U.S. and Canada. The team specializes in designing flexible debt
capital ranging from $10 million to $50 million, with equity
capital available alongside a debt facility or as a standalone
investment. OEC is a business unit of ORIX USA, a Dallas-based
financial services firm known for providing innovative capital
solutions that clients need to propel their business to the next
level. With more than 600 employees spanning nearly 20 offices
across the U.S. and Brazil, ORIX USA and its family of companies
hold $6 billion of assets and manage an additional $29 billion,
approximately. Its parent company, ORIX Corporation, is a
Tokyo-based, publicly owned international financial services
company with operations in 37 countries and regions worldwide. ORIX
Corporation is listed on the Tokyo (8591) and New York Stock
Exchanges (IX). For more information on ORIX Energy Capital, visit
www.orix.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160913006292/en/
for ORIX Energy CapitalAmanda Gleason,
972-770-5083agleason@marketwave.bizorJeff Smith,
214-237-2301Jeff.smith@orix.com
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