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Double Eagle

Double Eagle Energy Holdings II LLC is a premier land aggregator in North America. The founders launched the predecessor company in 2009 and built the Double Eagle business model around a comprehensive approach to organic leasing, supported by comprehensive technical analysis. Following its formation, Double Eagle accumulated approximately 46,900 net acres in the core of the Midland Basin and subsequently closed a merger with a working interest partner that increased that position to approximately 62,000 net acres. The land position was built by focusing on the core of the play, leveraging proprietary relationships and land capabilities.

Capital Needs

In August 2016, Double Eagle and its advisor reached out to a small number of investors to raise capital to fund the Company’s development program and organic leasing efforts.

Our Approach

Magnetar approached the investment with Double Eagle with the intention of maximizing the company’s strategic flexibility.

The Details

In November 2016, Double Eagle announced an investment from Magnetar of $450mm to support additional Midland Basin acquisition opportunities and to accelerate the Company’s operated drilling program.

At closing, Double Eagle had substantial liquidity, providing the ability to fund its ongoing development while also exploring a potential IPO or sale of the business.

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