Fort Worth-based private equity firm Vortus Investment Advisors said April 19 it will partner with newly formed Stateline Operating to develop assets in Eddy County, N.M. Fort Worth-based Stateline, a joint venture of Vortus and Flat Creek Resources, will be managed by Flat Creek with initial focus on existing oil-rich assets in Delaware Basin.
Mike McCracken, Stateline CEO, said, “We are excited to partner with Vortus to develop one of the most economic plays in the U.S.” Brian Crumley, managing partner at Vortus, added, “Vortus will continue to evaluate additional partnership opportunities with the Flat Creek team in the Permian Basin.”