Hatch Resources, a newly formed oil and gas exploration and production company based in Austin, TX, and Ridgemont Equity Partners, a middle market buyout and growth equity firm, today announced a partnership to pursue the acquisition of oil and gas assets in the Permian Basin.
Hatch was formed by a senior team with extensive sub-surface, land and business development experience in the Permian Basin. The Hatch management team is led by James Murchison, Chief Executive Officer; Tripp McCullar, Vice President – Land; Paul Fears, Vice President – Geology; and Ty Lerche, Director of Finance. The team has been directly involved in acquiring approximately $4 billion in oil and gas assets over the past three years. Prior to founding Hatch, the management team served in various roles at Venado Oil & Gas, Black Oak, Carrizo Oil & Gas, and Callon Petroleum.
Hatch Resources CEO James Murchison said, “We could not be more excited about building a long-term partnership with Ridgemont that has a track record of generating exceptional returns on its oil and gas investments. Both Hatch and Ridgemont share a deep-rooted focus on making disciplined investments in the Permian Basin targeting attractive rates of return.”
“We are excited to partner with Hatch. Under Jimmy’s leadership and with this team’s highly talented professionals, we believe Hatch can deliver attractive returns,” said Cay Freihofer, Principal of Ridgemont.
“The Permian Basin has been a bright spot in a largely difficult oil and gas investing environment. We believe the Hatch team possesses the right skills and experiences to capitalize now on the large opportunity set in this area,” said John Shimp, Partner of Ridgemont.
Source: Company Press Release