Crestline acquires DJ basin assets from Double Eagle

FORT WORTH, Texas -- CL Energy Opportunity Fund, a fund managed by Crestline Investors, has announced the acquisition of the non-operating working interests in the DJ basin of Colorado from Double Eagle Energy Rockies LLC, an affiliate of Double Eagle Energy Holdings II LLC, a Fort Worth-based E&P company.

The acquired assets, with production of over 5,500 bpd, include a mix of wellbore-only working interests and leasehold interest with exposure to over 100 gross wells operated by premier DJ basin operators.

"The Double Eagle team, in partnership with several premier DJ basin operators, have done an excellent job in developing this acreage, and we look forward to participating in the future development of the DJ basin," said Rahul Vaid, managing director, Crestline Investors.

Cody Campbell, Co-CEO of Double Eagle, said, "We appreciate the opportunity to do business with Crestline on this transaction as they build a world class energy portfolio. Going forward, Double Eagle remains focused on growing our Midland basin asset, and this sale represents an execution of our business strategy to concentrate on our Permian position."