Backed by Kayne Anderson and Warburg Pincus, Terra holds 370,000 net acres that produce approximately 530MMcf/d.
Private equity firms Kayne Anderson Capital Advisors, and Warburg Pincus are considering selling Terra Energy Partners for approximately $2.5bn, including debt, reported Reuters, citing people familiar with the matter.
In 2016, Terra acquired WPX Energy for nearly $910m. As part of the deal, Terra secured an increased equity commitment from Kayne Private, and an equity commitment from affiliates of new the investor Warburg Pincus.
This increased Terra’s equity commitment to $800m, with Kayne and Warburg Pincus as equal partners.
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