STAMFORD, Conn.--(BUSINESS WIRE)--Castleton Commodities International LLC (“CCI” or the “Company”) today announced that it has executed a definitive agreement to acquire, through its subsidiaries, the Robinson’s Bend Field assets and operations (“Robinson’s Bend Field”) of Constellation Energy Partners LLC (“CEP”; NYSE MKT: CEP).
The Robinson’s Bend Field consists of over 500 natural gas wells and about 44,400 net acres in mineral leases providing a significant proved reserve as well as over 200 miles of related gathering and transport lines. The Robinson’s Bend Field is located in the Black Warrior Basin in Tuscaloosa County, Alabama. Post-closing, CCI will operate all of Robinson’s Bend Field.
The transaction is expected to close in the first quarter 2013.
About Castleton Commodities International LLC
CCI (formerly Louis Dreyfus Highbridge Energy) is a global commodities merchant with an integrated set of operations consisting of the marketing and merchandising of commodities and the ownership, operations, and development of commodities-related upstream and infrastructure assets. The Company markets a broad range of physical commodities including natural gas, natural gas liquids, refined products, crude oil, fuel oil, freight, petrochemicals, electric power and coal and financial instruments related to commodities. CCI is headquartered in Stamford, Connecticut, with offices in Houston, Texas; Denver, Colorado; Calgary, Canada; Lausanne, Switzerland; Shanghai, China; Singapore; and Uruguay.
CCI benefits from a rich history in commodities investing as well as a distinct culture of excellence. On December 31, 2012, the company was purchased by DF Energy Acquisition LLC, a private investment vehicle owned by Glenn Dubin, and a group of independent private investors representing some of the most sophisticated, experienced and respected minds in global finance and industry and renamed Castleton Commodities International LLC.
Constellation Energy Partners LLC
Constellation Energy Partners LLC is a limited liability company focused on the acquisition, development and production of oil and natural gas properties, as well as related midstream assets.