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Bailey McCann, Opalesque New York:

Houston, Texas based Indigo Minerals has closed a $375 million capital raise for energy development in the Cotton Valley and Haynesville plays in Texas. The round was led by $5.7 billion Trilantic Capital Mangement which invested $300 million, alongside existing investors including the Martin Companies, Yorktown Partners and Ridgemont Equity Partners, who together invested $75 million of additional equity in Indigo.

The capital will go to acquire and develop natural gas producing properties in the Cotton Valley and Haynesville. With the acquisition, Indigo holds approximately 160,000 net acres in Northwest Louisiana and East Texas, in addition to a significant portfolio of minerals and leasehold interests across 15 states. Indigo is the tenth largest private producer of natural gas in the United States

"With its proximity to the Gulf coast and the assets available, we feel like the Cotton Valley stacks up to be one of the premier plays in the country," said Glenn Jacobson, partner at Trilantic North America, of the deal in an interview with Opalesque.

In addition to the Trilantic round, other firms including Blackstone/GSO backed GeoSouthern have recently completed transactions in the same area. "In our view, there have been a lot of improvements made over the past 1-2 years that add to the economics of the play," Jacobson says of the recent interest. He adds that development in the Cotton Valley works at current energy price......................

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