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Oaktree and Providence Energy Ltd. Announce Formation of Sierra Energy Holdings, LLC

Providence Energy Ltd. and Oaktree Announce the Formation of Sierra Energy Holdings, LLC, a New Mineral and Royalty Acquisition Company with $500 Million in Capital Commitments Background Image

Vinson & Elkins advised funds managed by Oaktree Capital Management, L.P. in a transaction whereby Oaktree and Providence Energy Ltd. will form a new mineral and royalty acquisitions company, Sierra Energy Holdings, LLC (“Sierra”), backed with $500 million in equity commitments.

Sierra will pursue the acquisition of mineral and royalty interests throughout the continental United States.

The V&E team was led by John Grand, Dan Komarek, Heather Brocksmith and Tara Tegeleci. Other key team members included Elena Sauber, David Peck, Miron Klimkowski, Sean Becker and Julia Petty.

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