Morgan Stanley Energy Partners and Presidio Petroleum Announce Strategic Partnership

New York —

Investment funds managed by Morgan Stanley Energy Partners (collectively, “MSEP”), part of Morgan Stanley Investment Management, and Fort Worth, Texas-based Presidio Investment Holdings LLC (“Presidio Petroleum” or the “Company”) announced today a strategic partnership whereby MSEP has made a majority equity investment in Presidio Petroleum to facilitate the acquisition from Midstates Petroleum Company Inc. (NYSE: MPO) of oil and natural gas properties in the western Anadarko Basin of Texas and Oklahoma and to support the growth of the Company's exploration and production (“E&P”) business in the United States.

Presidio Petroleum is a leading oil and gas efficiency company founded by Chris Hammack and Will Ulrich to acquire, operate, and optimize producing oil and gas properties through best-in-class operations and targeted development of proved reserves in established U.S. onshore basins. The partnership with MSEP provides the Company with additional resources to potentially expand Presidio Petroleum's asset base in support of its operationally-focused strategy. Messrs, Hammack and Ulrich have a successful operating track record spanning multiple E&P companies prior to the establishment of Presidio Petroleum and lead a talented executive team with significant technical and operational expertise.

Chris Hammack, Co-Founder and Co-Chief Executive Officer of Presidio Petroleum, said, “We are enthusiastic to be partnering with Morgan Stanley Energy Partners in support of our vision of building an industry-leading operator of overlooked, developed oil and gas assets. We believe our relationship with MSEP will accelerate the growth of Presidio's asset base across multiple basins where the Presidio management team has a long history of efficient and responsible operations.”

Will Ulrich, Co-Founder and Co-Chief Executive Officer of Presidio Petroleum, added, “Presidio was founded upon the philosophy of engineering efficiency. Our competitive advantage allows us to unlock the value of acquired oil and gas reserves through leading operational practices, modern development technologies, and the advancement and use of the digital oilfield. We are pleased to have a partner in Morgan Stanley Energy Partners that shares our philosophy and look forward to the collaboration as we pursue multiple opportunities to grow the business.”

Robert Lee, Managing Director of Morgan Stanley Energy Partners, said, “We're excited to be investing alongside our management partners at Presidio Petroleum and look forward to shared success in the years ahead as we continue to support their differentiated strategy for the business.” John Moon, Managing Director and Head of Morgan Stanley Energy Partners, added, “Chris Hammack and Will Ulrich bring best-in-class management talent and operating experience to this strategy, and we're delighted to be their partners in this very exciting business.”

About Presidio Petroleum

Headquartered in Fort Worth, Texas, Presidio Petroleum is a leading oil and gas efficiency company with assets located in the western Anadarko Basin of Texas and Oklahoma. For further information about Presidio Petroleum, please visit www.presidiopetroleum.com.

About Morgan Stanley Energy Partners

Morgan Stanley Energy Partners, the energy-focused private equity business of Morgan Stanley Investment Management, is a leading energy private equity platform that makes privately negotiated equity and equity-related investments in energy companies located primarily in North America. Morgan Stanley Energy Partners pursues a differentiated investment strategy, focused on the buyout and build-up of strategically attractive, established energy businesses across the energy value chain in partnership with world-class management teams. For further information about Morgan Stanley Energy Partners, please visit www.morganstanley.com/im/energypartners.

About Morgan Stanley Investment Management

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 600 investment professionals around the world and $469 billion in assets under management or supervision as of March 31, 2018. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management, and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions, and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

 

Investment funds managed by Morgan Stanley Energy Partners (collectively, “MSEP”), part of Morgan Stanley Investment Management, and Fort Worth, Texas-based Presidio Investment Holdings LLC (“Presidio Petroleum” or the “Company”) announced today a strategic partnership whereby MSEP has made a majority equity investment in Presidio Petroleum to facilitate the acquisition from Midstates Petroleum Company Inc. (NYSE: MPO) of oil and natural gas properties in the western Anadarko Basin of Texas and Oklahoma and to support the growth of the Company's exploration and production (“E&P”) business in the United States.

 

Presidio Petroleum is a leading oil and gas efficiency company founded by Chris Hammack and Will Ulrich to acquire, operate, and optimize producing oil and gas properties through best-in-class operations and targeted development of proved reserves in established U.S. onshore basins. The partnership with MSEP provides the Company with additional resources to potentially expand Presidio Petroleum's asset base in support of its operationally-focused strategy. Messrs, Hammack and Ulrich have a successful operating track record spanning multiple E&P companies prior to the establishment of Presidio Petroleum and lead a talented executive team with significant technical and operational expertise.

 

Chris Hammack, Co-Founder and Co-Chief Executive Officer of Presidio Petroleum, said, “We are enthusiastic to be partnering with Morgan Stanley Energy Partners in support of our vision of building an industry-leading operator of overlooked, developed oil and gas assets. We believe our relationship with MSEP will accelerate the growth of Presidio's asset base across multiple basins where the Presidio management team has a long history of efficient and responsible operations.”

 

Will Ulrich, Co-Founder and Co-Chief Executive Officer of Presidio Petroleum, added, “Presidio was founded upon the philosophy of engineering efficiency. Our competitive advantage allows us to unlock the value of acquired oil and gas reserves through leading operational practices, modern development technologies, and the advancement and use of the digital oilfield. We are pleased to have a partner in Morgan Stanley Energy Partners that shares our philosophy and look forward to the collaboration as we pursue multiple opportunities to grow the business.”

 

Robert Lee, Managing Director of Morgan Stanley Energy Partners, said, “We're excited to be investing alongside our management partners at Presidio Petroleum and look forward to shared success in the years ahead as we continue to support their differentiated strategy for the business.” John Moon, Managing Director and Head of Morgan Stanley Energy Partners, added, “Chris Hammack and Will Ulrich bring best-in-class management talent and operating experience to this strategy, and we're delighted to be their partners in this very exciting business.”

 

About Presidio Petroleum

Headquartered in Fort Worth, Texas, Presidio Petroleum is a leading oil and gas efficiency company with assets located in the western Anadarko Basin of Texas and Oklahoma. For further information about Presidio Petroleum, please visit www.presidiopetroleum.com.

 

About Morgan Stanley Energy Partners

Morgan Stanley Energy Partners, the energy-focused private equity business of Morgan Stanley Investment Management, is a leading energy private equity platform that makes privately negotiated equity and equity-related investments in energy companies located primarily in North America. Morgan Stanley Energy Partners pursues a differentiated investment strategy, focused on the buyout and build-up of strategically attractive, established energy businesses across the energy value chain in partnership with world-class management teams. For further information about Morgan Stanley Energy Partners, please visit www.morganstanley.com/im/energypartners.

 

About Morgan Stanley Investment Management

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 600 investment professionals around the world and $469 billion in assets under management or supervision as of March 31, 2018. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide.

 

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management, and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions, and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

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