Ledger Petroleum Launches $50 Million Reg D Offering

Ledger Petroleum, a privately held asset management firm that specializes in acquiring and managing non-operated working interests in producing oil and gas properties, has launched a $50 million Reg D 506(c) offering with proceeds to be used to purchase oil and gas producing properties throughout the US.

This is the second fund offering by Ledger Petroleum following its Legacy Income Fund, which has operated for the past ten years and has remained cash-flow positive throughout 2015. Once funded, the new Cambrian Partnership expects to own a minimum of 600 producing interests located in 15 different U.S. states by the end of 2016.

Paul Thomas, managing partner of Ledger, said, “Now is the best time in the past 30 years to be acquiring oil and gas production in North America as a core asset…, and Ledger is capitalizing to purchase as much production as possible over the next two years. We need capital to deploy because we are seeing a great acceleration of high quality deal flow in our market niche as [energy and petroleum] companies work to stave off bankruptcy.”

Ledger Petroleum, founded in 2005, is based in Abilene, Texas. According to the company, its portfolio includes ownership positions in hundreds of leases throughout North America.