New Height Energy's Strategic Acquisition of Midland Basin Oil and Gas Assets

New Height Energy's Bold Move in the Midland Basin

In a significant development within the oil and gas sector, New Height Energy, LLC, a privately owned company based in Houston, Texas, has successfully completed the acquisition of valuable producing oil and gas assets located in the prolific Midland Basin. This strategic move is part of the company's focused mission to enhance its portfolio of producing assets and marks a pivotal milestone in its growth trajectory.

Transformative Acquisition Details

On April 1, 2026, New Height Energy disclosed the closing of its acquisition, which is projected to result in a pro forma net production exceeding 5,000 barrels of oil equivalent per day (BOE/day). This remarkable increase in production underscores the potential of the acquired assets and aligns perfectly with the company's long-term objectives.

The acquisition was made possible through a combination of new equity commitments from existing owners and a consortium of family offices led by United Beren Energy. Furthermore, the company secured a four-year reserve-based revolving loan via a Senior Secured Revolving Credit Agreement (RBL Facility) with Texas Capital Securities, enabling maximum borrowing commitments of $300 million. This financial foundation is crucial for supporting New Height Energy's disciplined acquisition strategy, which aims to identify and capitalize on opportunities in premier domestic basins.

Insights from Leadership

Jon Benavides, the Managing Partner and Chief Executive Officer of New Height Energy, expressed enthusiasm regarding the completion of this transformative acquisition. He remarked, "We are pleased to announce this transformative acquisition that further validates our thesis to acquire producing assets with the goal of unlocking significant value. We look forward to integrating these properties into our portfolio and continuing our growth strategy through future acquisitions." This sentiment captures the essence of the company's unwavering commitment to enhancing its operational capabilities and market impact.

On the financial aspect, Scott Trackwell, the Managing Partner and Chief Financial Officer, acknowledged the significant support received from partners, equity investors, and financial advisors. Their confidence in the company’s strategies and execution demonstrates the strength and quality of the New Height Energy team and its asset base. Trackwell expressed gratitude towards the Capital Markets team at TenOaks Energy Advisors, whose expertise proved vital in finalizing this crucial transaction.

The Team Behind the Success

The financial advisory role was expertly handled by TenOaks Energy Advisors, LLC, which has a reputation for delivering specialized solutions to companies in the energy sector. Legal counsel for the company was managed by Sidley Austin LLP, while Harris, Finley & Bogle, P.C. provided legal support in connection with the acquisition. The complexity of such transactions requires a collaborative effort, and support from experienced teams underscores New Height Energy's commitment to ensuring successful outcomes.

The Future of New Height Energy

Founded in 2021, New Height Energy is dedicated to acquiring and enhancing producing assets within the Permian Basin and other established regions across the Lower 48. The company's strategic direction is to unlock value through active asset management of underinvested properties. This latest acquisition exemplifies their ongoing endeavors to enhance production efficiency and explore additional opportunities. As the oil and gas landscape continues to evolve, the company remains vigilant in identifying investments that align with its strategic framework.

In conclusion, New Height Energy's acquisition of producing oil and gas assets in the Midland Basin stands as a testament to its growth ambitions and operational strengths. As they move forward, the focus will be on maximizing production efficiency while exploring further acquisition opportunities that align with their vision for sustained growth in the energy sector.