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BAM-Press Release-Juniper Grand County

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BAM-Press Release-Juniper Grand County

  1. 1. Brett A. Murray & Associates, Inc. PO Box 295 Holyoke, CO 970-854-2807 Office/Fax 000 BAMA Inc Announces Closing and Sale of Crescent Junction Federal Unit consisting of 80k Net Acres. HOUSTON, TX (November 11, 2014) – Brett A. Murray & Associates, Inc., (BAMAINC) announced today that it has closed on an agreement with a private company to acquire Juniper Capital, LP.’s (JUNIPER) 80,945.62 m/l net acres for approximately $3.5 million. Under the agreement and in terms with the Federal Unit drilling obligations, the private company will acquire 87.5% working interest and be obligated to drill additional four horizontal wells at roughly $10.0 million drilling commitment. “We are extremely pleased to have been vented and engaged by Juniper in locating a potential buyer,” commented Brett A. Murray, BAMAINC’s founder. “Juniper is a world-class outfit with assets all over the globe. Our team was able to get to closing with zero defaults on a large leasehold with seven existing wells. The excitement and proximity to Fidelity Exploration and Production’s (NYSE: MDU) Cane Creek 12-1 well and Paradox Basin prospect made this an exciting closing for both parties. The new buyer will be able to accelerate the development of the Mancos as recently discovered with the drilling and completion of the Tidewater State 32-31H-2119 (Picture below) well. The deep oil potential in the Paradox formation has a huge upside with offset operators and on the extensive seismic that was acquired in this sale.” The transaction is effective as of October 1, 2014. About Juniper Capital, LP Mr. Richard K. Gordon is the General Partner of Juniper Capital, L.P. and Juniper Energy, L.P. These companies own in excess of $2.0 billion of energy-related assets. Prior to the establishment of Juniper Capital and Juniper Energy, Mr. Gordon was a Vice Chairman of Merrill Lynch’s Investment Banking Group and head of the firm’s energy, power, structured finance and Canadian groups. Mr. Gordon was responsible for many of the largest energy mergers, acquisitions, and corporate financings in U.S. history. Prior to joining Merrill Lynch in 1993, Mr. Gordon was a Managing Director of The First Boston Corporation. In addition to forming Juniper Capital and Juniper Energy, Mr. Gordon has founded or co- founded more than ten other companies engaged in various activities, including energy, telecommunications, restaurants, and real estate development. Mr. Gordon currently serves on several public and private boards besides ExoStat, including Atmos Energy, the nation’s second largest distributor of natural gas, and Resuscitation International, LLC, a medical device provider located in Scottsdale, AZ. Mr. Gordon holds a B.A. from Colgate University and a M.B.A. from Cornell University. Contacts: Queries: Brett A. Murray at (970) 854-2667,