CORDILLERA PARTNERS COMPLETE TWO PURCHASES IN MIDCONTINENT, ROCKIES

Cordillera Energy Partners LLC bought MBOE Oil and Gas Limited Partnership for undisclosed terms. The purchase brought the privately held Denver independent producer 228 wells, 40 percent of which MBOE operated, in western and central Oklahoma and the Permian Basin of Texas and New Mexico. It followed Cordillera's acquisition of Greystone Energy Inc. for an undisclosed amount of cash. Greystone became a Cordillera subsidiary. Its properties consisted of 161 wells, 98 percent of which it operated, in New Mexico's San Juan Basin. Cordillera funded both transactions with a combination of equity provided by EnCap Investments LLC and bank financing through Cordillera's $100 million credit facility, led by Bank One, Texas as administrative agent, with U.S. Bank as syndication agent and Bank of Scotland as a participant.