ELLIPSIS U.S. ONSHORE HOLDINGS ANNOUNCES STRATEGIC ACQUISITIONS AND FARMOUT AGREEMENT TO EXPAND NON-OPERATED PORTFOLIO

DALLAS, Aug. 19, 2025 /PRNewswire/ — Ellipsis U.S. Onshore Holdings LLC (“Ellipsis”), backed by the Westlawn Group (“Westlawn”), is making strategic moves to solidify its foothold in key U.S. onshore basins. The company announced today the completion of two significant transactions – the acquisition of non-operated working interests and a large-scale farmout agreement – poised to boost its production and acreage.

Deal number one: Ellipsis is snapping up high-quality, non-operated oil and gas assets in the prolific Permian Basin spanning Texas and New Mexico. These assets are currently pumping out approximately 4,000 barrels of oil equivalent per day (BOEPD), with significant upside potential tied to over 600 gross remaining drilling locations. This acquisition bolsters Ellipsis’ presence in the Delaware Basin, aligning with their strategy of building scale through high-margin, low-cost, non-operated plays. Post-acquisition, Ellipsis boasts over 8,200 net acres in the Northern Delaware Basin and anticipates a daily average production of 20,000 BOEPD for the remainder of 2025.

In a separate transaction, Ellipsis has inked a Farmout Agreement with Black Stone Minerals, L.P. (NYSE: BSM), covering a hefty 270,000 gross acres across several counties in East Texas. As part of BSM‘s drilling program with Revenant Energy LLC, Ellipsis secures the exclusive right to earn non-operated working interests in BSM‘s Haynesville acreage, encompassing roughly 100,000 undeveloped net acres and a clear pathway for additional bolt-on acquisitions. The Farmout Agreement features a tiered commitment structure scaling up over five years, starting with a minimum of six wells in 2026 and escalating to 25 wells annually by the fifth year.

“These deals mark a pivotal moment for Ellipsis,” according to Matt Gentry and Adam Howard, Managing Directors at Ellipsis. “The Permian acquisition reinforces our strong Delaware Basin foundation, while the BSM farmout positions us to strategically expand our exposure to the Haynesville shale in a disciplined, capital-efficient manner.”

Brad Vinzant, Managing Director at Westlawn, echoed this sentiment, stating, “Ellipsis continues to execute on its strategy of building a scaled, high-margin non-operated portfolio across North America’s prime resource plays. These deals highlight the team’s aptitude for identifying and structuring compelling opportunities, and we are proud to support their continued growth.”

Winston & Strawn LLP and Gray Reed & McGraw LLP provided legal counsel to Ellipsis in these transactions.

ABOUT ELLIPSIS

Established in 2023, Ellipsis is a Dallas-based, privately held energy company focused on acquiring and developing large-scale, producing oil and gas assets across the United States. Ellipsis targets non-operated working interest acquisitions exceeding $100 million, with a strong emphasis on major U.S. onshore basins. Known for its flexible, partnership-driven approach, Ellipsis collaborates with operators and financial sponsors to provide capital solutions, enhance liquidity, and unlock value. Ellipsis actively pursues new opportunities through collaborative transactions and structured investments.

ABOUT WESTLAWN GROUP

Founded in 2021, Westlawn is a Houston-based private investment firm focused on long-term capital deployment across the global oil and gas sector. Westlawn invests in both operated and non-operated upstream assets—ranging from producing properties to development and exploration opportunities—as well as in technologies that improve production and asset performance. Westlawn maintains a broad investment mandate across the U.S. (Lower 48, Gulf of Mexico, and Alaska), Canada, Latin America, the Caribbean, and the Middle East.

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