Houlihan Lokey Advises Elevation Resources
Elevation Resources' producing assets have been acquired by Covalence Investment Partners
Sellside Advisor
Houlihan Lokey is pleased to announce Elevation Resources, LLC’s sale of its Permian oil and gas producing assets to Covalence Investment Partners, LLC (Covalence).
Elevation Resources, a portfolio company of Pine Brook Partners, is a private upstream oil and gas company headquartered in Midland, Texas. The company’s assets included ~23,700 net acres across the Central Basin Platform, with substantial, low-decline production in the Barnett formation. Elevation Resources pioneered the development of the prolific Barnett oil play in the Permian Basin.
Covalence is an upstream oil and gas investor based in Houston, Texas.
The marketing process generated robust interest from a broad range of buyers, including public and private operators, family offices, and private equity-backed teams/firms.
Houlihan Lokey acted as the exclusive financial advisor to Elevation Resources for all aspects of this transaction.
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