Houston-based OneEnergy Partners II Holdings, LLC announced the acquisition of Trainer Partners LTD of Midland, Texas and its western Oklahoma holdings.
The western Oklahoma holdings obtained by OneEnergy are in Roger Mills County while other holdings are royalties and working interests across Lea and Eddy Counties, New Mexico; Gaines, Andrews, Hemphill and Midland Counties, Texas.
No purchase price was revealed in the announcement.
“The Trainer family would like to express its appreciation to the OneEnergy team for seamlessly executing a complex transaction over a compressed period,” said Randall Mark Trainer, CEO, Manager and President of Trainer Management, LLC, the former general partner of Trainer Partners.
“We are honored to complete the acquisition of one of the last family-run oil and gas companies in the Permian Basin. We have enjoyed knowing and working with the Trainer family for the better part of a decade. The OneEnergy team is grateful for the opportunity to continue the legacy of founder CW Trainer and the Trainer family as the third generation of oil and gas entrepreneurs to manage this company and its assets,” said Ahmad Salman, OneEnergy’s Chief Operating Officer.
OneEnergy was formed to pursue middle market acquisition and development opportunities in the North American energy space by combining best-in-class investing and operating expertise.
Trainer Partners and its predecessor entities began accumulating and operating assets in the Permian Basin in 1956. As of the end of 2021, Trainer Partners owned one of the last independent portfolios of minerals, overrides and non-operated working interests in North America.