Common Resources, LLC Completes Sale for $805
May 19, 2010 09:03 AM Eastern Daylight Time
HOUSTON--(EON: Enhanced Online News)--Common Resources, LLC (“Common”) today announced the
completion of the sale of the company for a total purchase price of $805 million, subject to customary purchase
price adjustments. The sale was accomplished in two separate transactions. EXCO Resources, Inc. (NYSE: XCO)
and BG Group plc (LSE: BG.L) bought Common’s Haynesville assets for approximately $446 million. Talisman
Energy, Inc. (NYSE: TLM) bought Common’s Eagle Ford assets for approximately $359 million.
Common Resources was founded in August of 2007 by Roger Jarvis, Robert Snell and Elliot Pew to focus on the
development of domestic non-conventional resource plays.
Roger Jarvis, Chairman, President and CEO of Common said, “We are pleased that Common was able to identify,
capture and validate meaningful positions in the core of two of the most attractive shale gas plays in North America.”
EnCap Investments, Pine Brook Road Partners and Soros Fund Management co-led the funding for Common.
“The Company’s growth, success and ability to generate exceptional returns for its investors reflect the talent, vision
and dedication of the management team led by Roger Jarvis and Elliot Pew,” said Robert L. Zorich, Managing
Partner at EnCap.
Howard H. Newman, President and Chief Executive Office of Pine Brook Road Partners said, “Not only am I
pleased to be able to provide an exceptional return to our Limited Partners, I particularly look forward to joining
again with EnCap to back Roger and his team in forming Common Resources II.”
About EnCap Investments, L.P.
Since 1988, EnCap has been a leading provider of private equity to the independent sector of the U.S. oil & gas
industry, closing over [$6.0] billion of principal investments and corporate finance transactions. The firm has
established 14 oil and gas investment funds with aggregate capital commitments of over [$7.0] billion and currently