Dallas-based private oil and gas company Silver Hill Energy Partners has closed its second private equity fund, Silver Hill Energy Partners IV, with total capital commitments of $1.13bn.
Silver Hill IV focuses on direct ownership, operation and control of onshore oil, natural gas and infrastructure assets in basins across the US. It was oversubscribed and received commitments from endowments, pension funds, medical and family foundations and family offices.
In a statement, Kyle D Miller, Founder and CEO of Silver Hill, said: “The strong demand and oversubscribed interest we experienced with Silver Hill IV is reflective of institutions’ continuing appetite for compelling risk-adjusted returns in the energy sector.”
“We will continue to look for ways to drive value through the development of our existing Haynesville and Bakken assets while we evaluate creative ways to grow our portfolio in both current and 2 of 2 additional operating areas.”
The Haynesville and Bakken assets refer to the firm’s production and development operations at rock formations in those locations in the US. Silver Hill says it is actively developing both assets with one operated rig running in each region.
Miller added: “Looking to the future, we remain committed to the safe and responsible development of oil and gas assets and environmentally-conscious operations evidenced by reductions of emissions and improved carbon footprints on every set of properties we have acquired.”
Willkie Farr & Gallagher advised Silver Hill during the fundraising process.
Silver Hill Energy Partners was established in 2011 and has so far raised $2.875bn of cumulative capital commitments.
