Templar Energy LLC, with subsidiary Le Norman Operating LLC and joint venture partner Le Norman Fund I LLC, are buying oil and gas assets in Texas for about $1 billion.

The assets are in the Texas panhandle region, and are being sold by Forest Oil Corp.

Oklahoma City-based Templar and Le Norman’s current operating assets are in the Texas panhandle region and Oklahoma, in the Anadarko Basin.

Le Norman Fund I has funding commitments from Le Norman Properties LLC, David Le Norman and Carlyle Energy Mezzanine Opportunities Fund LP.

Templar is backed by energy-focused private equity firm First Reserve, which made an investment in December 2012.

Barclays Capital Inc. served as Templar’s financial adviser for the deal. Citigroup Global Markets Inc., Bank of American Merrill Lynch, Barclays Bank plc, Morgan Stanley Senior Funding Inc. and Natixis are providing financing for the transaction. 

Forest Oil, meanwhile, has been divesting assets since 2012 as a means to lowering the company’s debt.  The Denver-based company opted to sell other South Texas properties, excluding its Eagle Ford shale oil assets, for $325 million in January.

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