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Crimson Resources Forms Partnership with Private Equity Vortus

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   |    Tuesday,February 21,2017

Crimson Resources LLC has partnered with Private Equity Vortus Investments, LP, and management and other private investors.  The company will be focused on acquiring, leasing and developing oil and natural gas assets in South Texas where it has significant operational expertise.

According to the company website, Crimson Resources is managed through its affiliate Crimson Energy Partners IV, LLC.   Crimson Energy Partners is currently led by, Frank Starr and Tripp Rivers, who both started at Union Pacific Resources and have worked together for over two decades, accumulating over 60 years of industry experience combined. Prior to forming CR, Frank and Tripp managed several Fort Worth-based oil and natural gas companies including Crimson Energy Company, Crimson Energy Partners II, LLC and Crimson Energy Partners III, LLC.

Jeffrey Miller and Brian Crumley, the Managing Partners at Vortus commented, “Vortus is excited to partner with CR in the Eagle Ford. Its management team has a long and successful history drilling and completing horizontal wells in the area combined with a reputation as a high quality operator. This partnership provides another platform into a low-cost basin where we hope to unlock significant value.”

The CR management team has an extensive track record of identifying, purchasing, developing, operating and selling oil and natural gas assets in South Texas, where they have leased almost 170,000 acres and drilled over 200 wells. Using their expertise in drilling and operating optimization, the CR team has built a history of successful value creation with over $1.5 billion in development, acquisition, and divestiture activity in south Texas since 1994.

“Crimson management looks forward to this opportunity to partner with Vortus Investments in our continued efforts to develop and manage assets in the Eagle Ford trend,” said Frank Starr. “Our continuing focus will be on value creation for the company, its investors, and royalty owners, while minimizing its operational footprint and maintaining our proven relationships with our mineral owners. We will apply the newest technology to properly evaluate, drill and complete productive horizons.”