Horizon Energy Partners, LLC
Horizon, is an oil and gas exploration and development company with a portfolio of domestic and international assets. The majority of the funding for Horizon has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies (including Royal Dutch Shell, Texaco, Burlington Resources and Pogo Producing), and have advised large energy focused private equity and hedge funds (including KKR, Riverstone Holdings, Silver Point Capital and the Carlyle Group).
Following the closing of our acquisition of Horizon I Investments, LLC, anticipated to be completed in April 2016, Petro River will have a 20% equity interest in Horizon. Horizon’s portfolio of assets is comprised of a well-diversified mix of projects, including both low risk development and re-development and higher risk exploration opportunities. In all cases, the upside is substantial and any success will have a very material impact on Horizon and its members.
Horizon has targeted conventional projects with finding/development costs of less than $10 per barrel of oil. The common theme underlying each project is the application of modern technology, primarily new acquisition and re-processing of 3-D seismic data. The potential financial return of each project is enhanced by several factors: (i) all of the projects have a low entry cost; (ii) the projects are being acquired at the incipient point of the value creation curve where the delta will be largest; and (iii) after expeditiously executing and bringing the projects up this curve, they can be profitably monetized, either in whole or part. Horizon’s current portfolio of assets includes:
Petro River is pursuing its core strategy in this well-known basin, drilling vertical wells in relatively shallow conventional legacy reservoirs using modern 3D seismic surveys. PTRC has acquired 106,000 acres in Osage County in an area that was the focus of a deeper horizontal play—that proved to be uneconomic—and has reprocessed 4650 square miles of … Continued
Petro River and Horizon has interest in 26,000 acres adjacent to the giant Wytch Farm – the largest onshore oil field in Western Europe. Estimated prospective resources is no less than 20MM barrels of oil and 60B cubic feet of gas. Horizon owns a 10% interest with an option to acquire an additional 65 percent.
Horizon has contractual rights to participate for a 50% interest with Ardent Oil Limited (‘Ardent’), an experienced UK-based oil and gas prospect generating company, in four recently awarded offshore licenses granted to Ardent in the 7th offshore licensing round in Denmark. The licenses are all located in unique geological settings and require modest work programs. … Continued
Grapevine Energy, LLC (‘Grapevine’) is a wholly-owned subsidiary of Horizon. It was formed to acquire leasehold interests in Kern County, California and explore for and develop hydrocarbons thereon. Grapevine’s area of interest contains a significant hydrocarbon discovery (‘Discovery’) made in the fall of 2014 by a company of which the founder of Horizon was formerly … Continued
Petro River and Horizon collectively own a 41.25% working interest in oil and gas leases comprising approximately 7,000 acres, in the San Joaquin Basin in Kern County, California, covering the Kern County field redevelopment project. Horizon has a 27.5% working interest and Petro River a 13.75% working interest. The Kern County field was discovered in … Continued
Due to historical political and geological issues, which now have been resolved, the Larne Basin remains the only Carboniferous Basin in Europe essentially untested for hydrocarbons. Through long-standing industry contacts, Horizon Energy was offered the opportunity to participate on favorable terms in the exploration and development of the Larne Basin through the acquisition of working … Continued