HOUSTON & MIDLAND, Texas, January 27, 2022--(BUSINESS WIRE)--OneEnergy Partners II Holdings, LLC ("OneEnergy") and Trainer Partners LTD ("Trainer Partners") announced that the Boards of Directors of both companies have unanimously approved the acquisition of all the partnership interests of Trainer Partners by an affiliate of OneEnergy.
The acquisition makes an affiliate of OneEnergy the general partner and controlling entity of Trainer Partners. As of December 31, 2021, the acquired portfolio consisted of royalties and working interests across Lea and Eddy Counties, New Mexico; Gaines, Andrews, Hemphill and Midland Counties, Texas; and Roger Mills County, Oklahoma.
"The Trainer family would like to express its appreciation to the OneEnergy team for seamlessly executing a complex transaction over a compressed period," said Randall Mark Trainer, CEO, Manager and President of Trainer Management, LLC, the former general partner of Trainer Partners.
"We are honored to complete the acquisition of one of the last family-run oil and gas companies in the Permian Basin. We have enjoyed knowing and working with the Trainer family for the better part of a decade. The OneEnergy team is grateful for the opportunity to continue the legacy of founder CW Trainer and the Trainer family as the third generation of oil and gas entrepreneurs to manage this company and its assets," said Ahmad Salman, OneEnergy’s Chief Operating Officer.
OneEnergy was formed to pursue middle market acquisition and development opportunities in the North American energy space by combining best-in-class investing and operating expertise. Since 2015, OneEnergy and its predecessor companies have developed a strong track record of providing fast, discrete, and transparent liquidity to individuals, families and companies looking to transact on their leasehold and mineral properties.
Trainer Partners and its predecessor entities began accumulating and operating assets in the Permian Basin in 1956. Over more than a half century of oil and gas industry participation, the Trainer name became synonymous with partnership, integrity, and trust. Over the same period, Trainer Partners developed a reputation for being a partner of choice for many family-run and publicly traded operators in the basin. As of the end of 2021, Trainer Partners owned one of the last independent portfolios of minerals, overrides and non-operated working interests in North America.
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OneEnergy Partners II Holdings, LLC