Denham Capital Backs Midland-based Atlantic Resources Company
Atlantic Resources Company, LLC today announced that it has secured an equity commitment from Denham Capital, a leading energy and resources-focused global private equity firm. The recently formed company will pursue the acquisition, exploration and development of oil and gas assets in the Permian Basin with a specific focus on upstream unconventional assets.
Atlantic’s management team is led by Chief Executive Officer Richard A. Jennings and President Rodney Woodard. The upstream oil and gas industry veterans have a proven track record in the Permian, spending much of their careers focused on start-ups, exploration, lease and production acquisition, exploitation and development. They founded Atlantic late last year and are joined by Will Abney, Ross Cox, Douglas Prieto, and Bruce Woodard.
“We’ve assembled a great team that is focused on value creation in a proven basin,” said Jennings. “While the Permian has been an area of heavy activity in recent years, it continues to present a robust opportunity set for companies with the right combination of experience and local knowledge. We believe that coupling our team’s background with the strategic and operational expertise Denham provides gives us a significant edge over our peers.”
“This is a great time for Rick and Rodney’s team. We’re excited to partner with this proven group of entrepreneurs and look forward to supporting them as they create a successful E&P company,” said Jordan Marye, Partner at Denham Capital.