Point Energy Partners II (“Point Energy”), a portfolio company of Vortus Investments Advisors, has officially announced the completion of its previously disclosed $1.1 billion all-cash sale of assets. The transaction involves Vital Energy, Inc. (NYSE: VTLE) (“Vital”) and Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”), signifying a major milestone for Point Energy Partners and its stakeholders.
This successful sale culminates an extraordinary period of growth for Point Energy Partners. Starting from an initial production of 300 net barrels of oil equivalent per day (boepd), the company has dramatically expanded its output to over 40,000 net boepd in just six years. This remarkable ascent underscores Point Energy Partners‘ dedication to innovation, operational excellence, and strategic development within the dynamic oil and gas sector.
Bryan Moody, CEO of Point Energy Partners, acknowledged the pivotal role of his team in this achievement. “This incredible achievement would not have been possible without our remarkable staff and team members who have all contributed to our success. Their dedication and expertise have been instrumental in driving our growth and innovation,” he stated. Moody also expressed enthusiasm for the future, adding, “We have enjoyed collaborating with and look forward to watching Vital and NOG build upon the success achieved to date on these assets.”
From its inception, Point Energy Partners has prioritized the optimal development of its asset base. This included the strategic implementation of 15,000-foot laterals and industry-leading completion designs. These advanced techniques significantly boosted the efficiency and productivity of their Delaware Basin resources. The company notably advanced the 1st Bone Spring and Wolfcamp C targets within its operational area, establishing new industry benchmarks for exploration and production practices.
Beyond production enhancements, Point Energy Partners proactively developed complementary midstream and mineral assets. This strategic, opportunistic approach bolstered the capital efficiency of their operations and facilitated optimized resource management, ultimately enhancing the overall asset value.
John Sabia, Senior Partner at Point Energy Partners, highlighted the crucial support from financial partners. “The support of our financial partners at Vortus Investment Advisors and our many banking partners was integral to our ability to successfully navigate and benefit from multiple commodity price cycles, culminating in a very positive exit for all parties,” Sabia noted.
Brian Crumley and Jeffrey Miller, Co-Founders and Managing Partners of Vortus Investment Advisors, also shared their perspective on Point Energy Partners‘ success. “The tremendous growth and value creation under the leadership of Bryan Moody and John Sabia in building an industry-leading and scalable operation has its success rooted in their backgrounds as U.S. military veterans. Their veteran backgrounds have also been reflected, since inception, in the Point Energy name and logo. We are proud to be partners with Point Energy on this and other investments for the benefit of Vortus and its partners.”
Looking ahead, Point Energy Partners remains committed to sustainable practices and actively seeks new avenues for expansion within the evolving energy landscape.
About Point Energy Partners
Established in 2017, Point Energy Partners stands as a leading oil and gas company focused on the prolific Permian Basin. Recognized as one of the largest private unconventional shale producers in the Texas Delaware Basin, Point Energy Partners is dedicated to employing top-tier professionals and fostering innovation and efficiency to deliver value to financial partners, communities, and contribute to American energy security. For further details, please visit www.pointep.com.
About Vortus Investment Advisors
Vortus Investment Advisors, LLC, based in Fort Worth, Texas, is a private equity firm specializing in the lower to middle market upstream energy sector in North America. Vortus employs an asset-based investment strategy, targeting privately negotiated transactions requiring approximately $25 million to $100 million of equity capital, in collaboration with successful owner/operators. Additional information is available at www.vortus.com.
