News

Certain Fund I Properties Sold – Part of Program in 4th Quarter of 2013

Posted by Mary-Margaret

In December 2013, Foundation Energy Fund I closed the sale of producing wells and acreage in the Watternberg Field of the DJ Basin.  The properties were sold to a large U.S. independent active in drilling vertical and horizontal Codell and Niobrara wells.  The assets were purchased in 2006 as part of the fund’s DJ Basin acquisition.  Following the acquisition, the fund paid down debt and made a special distribution to its Members.

The sale is part of a broader divestiture initiative for Foundation Energy Fund I & II as these funds move closer to the end of their 10-year terms in 2015 and 2017, respectively.

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    Foundation Energy Management, LLC (Foundation Energy) is a manager of energy investments for institutional partners. The company acquires, develops and enhances domestic oil and gas properties and associated midstream assets. Foundation Energy currently operates oil and gas properties in twelve states.

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