LOGOS Resources LLC, an oil and gas exploration company, has received an upsized equity capital commitment to $100 million from ArcLight Capital Partners LLC.
LOGOS plans to use the equity commitment to develop its existing acreage in the core of the Gallup oil resource play in the San Juan Basin, utilizing both horizontal and vertical drilling technology. The company will also use the additional capital to expand its footprint and pursue additional acreage acquisition opportunities.
LOGOS was formed in January 2012 in partnership with ArcLight and Consolidated Asset Management Services (CAMS). To date, the company has amassed over 13,500 net acres in the core of the Gallup play and has grown its production base through the drill bit to approximately 1,000 boe/d.