Peak Energy was formed in November 2002 and funded primarily by Yorktown Energy Partners (New York City, NY) with additional funding from other private equity partners. Since its inception, Peak has acquired and successfully developed oil and gas properties in Texas, North Dakota, Wyoming, Nebraska and New Mexico. Peak has successfully completed three prior iterations between 2002 and 2010.

Peak Energy Resources, Inc. (Peak I)

Peak I was formed in November 2002 and acquired operating positions in the Texas Panhandle and the Ft. Worth Basin along with a non-operating position in the San Juan Basin of New Mexico. Peak I was funded with a total of $55 million from Yorktown Energy Partners. Peak drilled 55 wells in the Texas Panhandle prior to divesting to Forest Oil in April of 2005 for $230 million. Peak sold its San Juan Basin properties to Burlington Resources for $30 million in May of 2005.

Peak Oil and Gas, Inc. (Peak II)

Peak II was formed in April 2003 when the Barnett Shale play was being developed and Peak acquired the Ft. Worth Basin assets in Hood and Somervell counties from Peak I. In 2004, Peak II began acquiring additional leasehold acreage in Hood, Somervell, Erath and Parker counties, and began an active development program by drilling wells and shooting approximately 50 square miles of 3D seismic.

Peak II created two affiliates, Pinnacle Drilling and Momentum Energy Group, to help facilitate Peak’s development of the Barnett Shale. Peak II had a total investment of approximately $75 million in both the Barnett Shale assets and Pinnacle Drilling. Peak sold all of the assets for proceeds of approximately $163 million for a rate of return of approximately 80% per year.

Peak Energy Resources, LLC (Peak III)

In the fall of 2007 Peak III formed Peak North Dakota, LLC and began leasing acreage on the Fort Berthold Indian Reservation, which is located in the heart of the Bakken and Three Forks horizontal oil play in North Dakota. Peak North Dakota drilled and/or participated in sixteen (16) wells on the reservation before the entity was sold to Enerplus Resources (USA) Corporation for slightly more than $456 million in October of 2010.

Peak III formed Peak Grasslands, LLC in the fall of 2009. Peak Grasslands drilled three (3) Bakken wells in McKenzie County, ND and leased additional acreage in Williams and Divide counties, ND. The assets were sold to Kodiak Oil and Gas (USA), Inc. for $110 million in November of 2010.

In total, Peak III was funded with approximately $180 million of direct investments and generated a gross return of approximately $566 million.

Peak Exploration & Production, LLC (Peak IV)

Peak is now in its fourth iteration, and is currently focusing again on Texas where Peak originally got its start over 10 years ago. In 2011 Peak Energy Peak Exploration & Production LLC was formed, along with two subsidiaries, Peak Permian LLC and Peak Texas Resources LLC, to focus on acquiring and developing properties in the Permian Basin of West Texas and in the Texas Panhandle, respectively.

Peak will continue leasing complementary acreage to its existing footprint in both of these two areas, in addition to seeking out other leasing opportunities where they make strategic sense to the company.