Ridgemont Equity Partners (“Ridgemont”), a middle market private equity firm, today announced the closing of a growth capital investment in Indigo Minerals II, LLC (“Indigo II”), one of the largest private mineral owners in Louisiana with over 425,000 net mineral acres. Financial terms of the transaction were not disclosed.
Indigo II was formed by a contribution of assets from Indigo Minerals LLC (“Indigo I”) and an equity contribution from existing Indigo I investors, including Ridgemont, to focus on the Central LA Eagle Ford and development of existing oily assets.
Indigo II owns 475,000 mineral acres across the US with exposure to a variety of onshore oil plays. Indigo II has over 250,000 leased acres located in the LA Eagle Ford shale play along with over 135,000 leasehold and mineral acres located in the Central LA Austin Chalk play.
Ridgemont initially invested in Indigo Minerals LLC (“Indigo I”) in 2007 and remains an investor today. Indigo I is focused on development drilling in East Texas and Northern Louisiana with over 2,000 drilling locations and over 4 TCFE of 3P reserves.