Affiliates of Apollo Global Management and Double Eagle Energy have formed a partnership to invest in oil and gas properties in Oklahoma, with a primary focus on the Anadarko and Ardmore Basins.
Double Eagle, headquartered in Fort Worth, Texas, has an executive management team led by John Sellers, co-chief executive officer, and Cody Campbell, co-chief executive officer. They manage Double Eagle Development, which has leased more than 500,000 acres across Texas and the Midcontinent.
Campbell says: "John and I are thrilled to have the opportunity to partner with Apollo, and believe that this new venture will provide a great opportunity to expand and continue our land-centred approach to oil and gas asset acquisition, which has proven successful over the last several years. We believe that the development and expansion of resource plays in Oklahoma creates great potential for Double Eagle to leverage its core competencies into opportunities to deploy capital at attractive rates of return."
Greg Beard, head of natural resources and senior partner at Apollo, says: "The success of our energy investing efforts depends heavily on identifying and backing superior management teams. John and Cody have the experience, track record, skill set, and focus that we seek, and we are delighted to have the opportunity to partner with them."
