Kelly Hart represented Silverback Exploration II in connection with a $500 million equity commitment from EnCap Investments LP to pursue conventional and unconventional U.S. resource plays. In its original incantation as Silverback I, the oil and gas producer developed a 35,000 net acreage position in the heart of the Delaware sub-basin. It was producing around 3,500 barrels of oil equivalent per day when it sold its interests for $855 million last fall to Centennial Resource Development Inc.
Silverback II, led by the same management team, is hoping for a repeat of its initial success. The Kelly Hart team includes Tom Hegi, David Cook, Todd Spake, and Jason Hendrix.http://www.naturalgasintel.com/articles/111041-silverback-takes-500m-encap-infusion-to-pursue-oil-natgas-resources