Vitol and Management of ATX Energy Partners Form New Company VTX Energy Partners
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Vitol and the management of ATX Energy Partners have formed a new company, VTX Energy Partners.
VTX will seek to acquire, develop, and operate large-scale upstream assets in established U.S. lower 48 basins. The company will target opportunities with established production and development profiles, including those in the southern Delaware Basin and the Williston Basin, where the management team has demonstrated a track record of success.
“Our team has been focused over the last 12 months on building a large asset position in one of the established U.S. lower 48 basins. We are ecstatic to partner with Vitol on this effort, from both the standpoint of their access to capital and the highly developed insights and expertise their organization brings in commodity markets, including all activities immediately downstream from our drilling, completion and operational activities,” said Gene Shepherd, CEO of VTX Energy Partners.
“The VTX partnership underscores our continued interest in growing our upstream portfolio in the U.S. Lower 48. The team has a remarkable track record and we are excited about their prospects for repeating prior successes. VTX will complement Vencer Energy, our existing upstream partnership in the Midland Basin,” said Ben Marshall, head of Vitol Americas.
About VTX Energy Partners
VTX Energy Partners will be the successor company to ATX Energy Partners, an Austin-based oil and gas company pursuing an acquisition and development strategy in the U.S. Lower 48. The management team has a proven track record of prudent asset management and value creation dating back to Brigham Exploration, which sold to Statoil for $4.7 billion in October 2011, and Brigham Resources, which sold to Diamondback Energy for $2.4 billion in December 2016.
To stop by VTX’s website, CLICK HERE
About Vitol
Vitol is an energy and commodities company. For more than 50 years they have used their networks and infrastructure to manage the flow of energy around the world, efficiently and responsibly.
To stop by Vitol’s website, CLICK HERE
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