ACON Investments Partners with Citla Energy
MEXICO CITY, April 15, 2015 /PRNewswire/ -- Citla Energy S.A.P.I. de C.V., an independent oil and gas company with offices inMexico City and Houston, Texas ("Citla"), announced today that it has partnered with affiliates of ACON Investments, L.L.C. ("ACON") to actively explore opportunities to participate in the opening of the Mexican energy sector, with a focus on exploration and production ("E&P") activities.
In supporting Citla, ACON brings its extensive experience as an oil and gas investor in the U.S. and Latin America, including offshore exploration, development and production in the Gulf of Mexico; onshore acquisitions and operations of multiple fields in the continental United States, primarily in Texas, Louisiana, Oklahoma and Mississippi, as well as onshore exploration and production inColombia. Citla's management team will contribute its extensive business development and operating experience in the energy sector in Mexico.
"We look forward to working with Citla in analyzing the significant opportunities that we expect will arise in the context of Mexico'senergy reform and currently low oil prices; Mexico has large potential in certain types of fields and enjoys relatively low upstream costs," said Jorge Dickens, Managing Partner at ACON. Mauricio Cortes, a Director in ACON's Mexico City office commented, "With ACON's support, Citla seeks to pursue a flexible and opportunistic strategy to build and manage a diversified asset portfolio, including participation in onshore and offshore fields, both as an operator as well as a value-added partner".
Founded in 1996, ACON manages several private equity funds focused both in the U.S. and Latin America, and is also manager of publicly traded trust certificates in Mexico ("Certificados de Capital de Desarrollo" or "CKD") which includes some of the country's largest pension funds as its investors.
Alejandro Murphy, EVP of Citla said "ACON's sponsorship will be instrumental for Citla to become a leading a player in the country's emerging oil and gas industry. We welcome the opportunity to work with its experienced team of professionals in this effort".
About Citla Energy
Citla Energy, S.A.P.I. de C.V., is a Mexican independent exploration and production company. With offices in Mexico City andHouston, Texas, the company is actively participating in the opening of the Mexico oil and gas sector, where it seeks to acquire and build a portfolio of selected onshore and offshore assets, both independently and in partnership with other industry participants. For more information, visit www.citlaenergy.com.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds that make investments in the United States and Latin America. Founded in 1996, ACON and its principals have managed over $3.6 billion of capital and made more than 50 investments, 29 of which were completed across nine different Latin American countries. ACON has been a longtime energy investor, with significant experience in upstream and midstream oil and gas companies such as Mariner Energy, Northern Tier Energy, Sequitur Energy Resources, White Oak Resources, Milagro Exploration, Saga Resource Partners, Tropigas, and Vetra Energia as well as energy services and power infrastructure companies. ACON has professionals inWashington, DC, Los Angeles, Mexico City, Sao Paulo and Bogota. For more information, visit www.aconinvestments.com.