DALLAS, Oct. 10, 2023 /PRNewswire/ — Saxum Energy Partners LLC (“Saxum”) today announced the final closing of its inaugural partnership, Saxum Energy I LP (the “Partnership”), at its hard cap of $435 million of equity commitments. Saxum also announced it has fully invested the Partnership with the recent acquisition of a premier Permian Basin mineral position from Luxe Minerals, as well as the Partnership’s previous acquisitions in the Haynesville Shale. Saxum is led by Jim Mutrie, Cole Robertson and Josh Rosinski (the “Managing Partners”), former public and private oil and gas company and private equity executives.
“We truly appreciate the support and confidence placed in us by our investors,” said the Managing Partners. “We are excited to bring the team’s diverse skillset, backgrounds and track record along with an extensive industry network to deliver attractive risk-adjusted returns for our partners.”
Saxum launched the Partnership in September 2022, and has acquired assets in the core of the Permian Basin and Haynesville Shale. The Partnership’s portfolio is comprised primarily of mineral interests in the Permian Basin, under operators such as ExxonMobil, Pioneer, Diamondback, Occidental, ConocoPhillips, Endeavor and Permian Resources, and in the Haynesville, under Southwestern, Comstock, Chesapeake and Aethon.
“The Partnership’s portfolio achieves our goal of delivering strong yield to our partners through current free cash flow and continued growth from our assets in the core of the top oil and gas plays in the continental United States. We are excited about the attractive current investment environment, due to the continued underinvestment in supply and limited access to capital for traditional energy,” commented the Managing Partners.
Saxum is complemented by an advisory board of leading oil and gas investors and executives including Adam Sinn, Ken Hersh, Steven Gray and Wellford Tabor.
Akin Gump Strauss Hauer & Feld LLP served as Partnership formation counsel, Baker Botts L.L.P. served as transaction counsel and Vinson & Elkins LLP served as credit facility counsel.
Saxum Energy Partners is a Dallas-based private partnership focused on the acquisition of oil and natural gas minerals. Saxum’s management team has experience operating private and public energy companies and managing energy private equity funds.
Saxum seeks to generate superior risk-adjusted returns for investors by leveraging its operational and acquisition experience to build a portfolio of minerals with strong annualized yields, robust current cash flow, future upside development and regular cash distributions. Saxum relies on its technical team, with backgrounds in operations, engineering, geology, accounting and finance, to conservatively underwrite and manage transactions.
SOURCE Saxum Energy Partners LLC