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Like Leonardo’s Vitruvian Man, VEX II may be static in form, but is dynamic in our vision. Formed as a Delaware Limited Liability Company in August 2012, Vitruvian Exploration II merges our strategic and tactical talents with strong capital funding from our partner, Quantum Energy Partners, and applies both in our focus areas to replicate or exceed our well-documented and highly successful track record.

  • On October 6, 2009, the original Vitruvian Exploration, LLC emerged with CBM legacy assets of a restructured entity and with a $75 million Senior Secured Revolving Credit Facility led by BNP Paribas.
  • In August 2010, Vitruvian identified and began an aggressive leasing program in an emerging Mississippian Oil Resource Play, our Rome Project.
  • In December 2010, Vitruvian consummated a $130 million Senior Secured Notes offering to provide additional liquidity for acreage acquisitions in our Rome Project.
  • By mid-year 2011, Vitruvian had leased over 200,000 highly contiguous net acres in the core of the Rome Project and identified and began leasing in a second oil resource play, our Gladiator Project.
  • On August 1, 2012, teaming with Quantum Energy Partners and supported by an initial $250 million equity commitment, Vitruvian Exploration II, LLC was formed to pursue a multi-faceted strategy to build a diversified portfolio of high quality, emerging and undeveloped oil and gas assets in North American unconventional resource plays.
  • By the end of 2012, Vitruvian sold nearly $500 million of our internally generated and developed oil resource and CBM projects.
  • In December 2012, VEX II closed a transaction in the unconventional Woodford Play of south central Oklahoma, acquiring over 350 oil and wet gas producing wells and the deep Woodford rights on more than 35,000 net acres to form our new Apollo Project.
  • Also in December, an affiliate entity, Vitruvian II Woodford, LLC was formed to manage the Apollo project and additional funding was obtained.

In summary, in a little more than 3 years Vitruvian Exploration generated play concepts and captured leasehold in two significant unconventional oil plays in Oklahoma and Texas, proved the concepts through successful drilling and completion operations, sold our oil and gas assets for nearly $500 million, reformed and recapitalized as VEX II, and acquired over 350 wells and 35,000 net acres in the unconventional Woodford Play of south central Oklahoma. Vitruvian - static in form, dynamic in vision and results.