Specializing in Appalachian Basin Natural Gas Investments

Clifton Brown, Managing Partner

Stevens Gillespie, Managing Partner

BG Partners, LLC (BG) is involved in two related but different business activities:

  • Acquisition, development and monetization of Appalachian Basin natural gas properties for its own account and on behalf of other investors.

  • Strategic advisory, operating implementation and investment banking solutions for the Appalachian Basin natural gas industry.

Prior to forming BG in October 2000, Brown and Gillespie managed Equitable Resources’ exploration and production company valued at over $1 billion (at $2.75 mcf prices) comprising 2.3 Tcf in natural gas reserves from 12,000 wells, 3,000 miles of gathering pipelines and three million acres of oil and gas leases. Gas production from the properties exceeded 250 million cubic feet per day. From 1994 to 1999, Brown and Gillespie were senior executives responsible for the growth of Statoil Energy’s exploration and production division. Statoil grew to become the largest owner of Appalachian Basin natural gas reserves by making more than 20 acquisitions and actively exploiting the acquired assets. Statoil had also become the most active operator (242 net wells drilled in 1999) with the lowest unit operating costs and highest net operating margin in this region.

In September 2001, the successful conclusion of an investment banking assignment on behalf of a limited partnership resulted in BG becoming the operator of certain natural gas interests in Pennsylvania and West Virginia. Operationally, BG has conducted a series of production enhancement efforts including the installation of various water removal systems, wellhead compression and more accurate measurement.

BG currently owns and operates 32 wells in two states -West Virginia and Pennsylvania. BG also owns non-operated well interests and royalty interests in over 50 wells in Pennsylvania. In two transactions in 2011 and 2013, BG successfully monetized a portion of its Pennsylvania leasehold acreage position to operating companies pursuing horizontal drilling in shale formations.

As a result of the partners’ diverse capabilities and executive management experience and as a way to enhance its property acquisition, development and financing activities, BG has provided “situational” consulting and investment banking services, such as its recent due diligence, strategic advice and investment banking assignment on behalf of an international LNG consulting firm as well as a startup company who makes a coal like fuel from bio mass waste. These activities focus on corporate strategy, investment due diligence, hedging advice, property valuations, property divestiture assistance and exploration joint venture formulation. However, BG is most interested in projects where a portion of the successful outcome will allow BG the opportunity for equity investment or performance oriented compensation.

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