ELLIPSIS U.S. ONSHORE HOLDINGS ACQUIRES ADDITIONAL ASSETS LOCATED IN MULTIPLE ONSHORE BASINS

DALLAS, Dec. 22, 2023 /PRNewswire/ -- Ellipsis U.S. Onshore Holdings LLC ("Ellipsis"), a portfolio company of Westlawn Group LLC ("Westlawn"), is pleased to announce the acquisition of additional assets located in multiple onshore U.S. basins.  Ellipsis acquired non-operated oil and gas assets with current production of more than 6,000 boe/d (2-stream) and significant operational upside associated with approximately 550 gross remaining locations.  The assets are in the Permian Basin of Texas and New Mexico, the Denver-Julesburg Basin of Colorado, and the Texas-Louisiana Salt Basin of Louisiana. Pro forma, Ellipsis anticipates 2024 production to average in excess of 13,000 boe/d (2-stream) with more than 1,900 remaining gross locations in inventory.

Managing Directors Matt Gentry and Adam Howard of Ellipsis commented, "Closing 2023 with our third significant acquisition marks a major milestone for our company. We are excited to advance our non-operated asset strategy in 2024 with a continued focus on both marketed and off-market opportunities.  We would encourage potential operating partners and those with non-operated assets to reach out to our team as we continue to deploy significant capital with Westlawn's support and financial backing."

McDermott Will & Emery represented Ellipsis in this transaction. Westlawn and Ellipsis continue to thank them for their support and guidance.

ABOUT ELLIPSIS U.S. ONSHORE

Formed in 2023, Ellipsis is a Dallas-based private energy company focused on the acquisition and development of large, producing oil and gas assets in the United States. Ellipsis' initial strategy will be focused on acquiring non-operated working interests, as well as mineral and royalty interests, via acquisitions exceeding $100 million throughout the major onshore U.S. basins. Ellipsis strives to be flexible and creative with deal structure, including partnering with existing operators and sponsors to provide capital and liquidity solutions. Additionally, Ellipsis can participate alongside others in the evaluation and acquisition of new opportunities.

ABOUT WESTLAWN GROUP

Founded in 2021, Westlawn is a Houston-based private investment firm focused on long-term investment in the global oil and gas industry. Westlawn acquires operated and non-operated interests in producing, development and exploration assets, as well as technologies that improve production. Westlawn is focused on investments across the United States (Lower 48, Gulf of Mexico and Alaska), as well as in Canada, Latin America, the Caribbean and the Middle East.

For questions or inquiries, please contact investment@westlawn.com.

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SOURCE Westlawn Group