Kelso Fund IX Announces Agreement to Acquire Ajax Resources, LLC

August 31, 2015

Kelso is pleased to announce that on August 31, 2015, Ajax Resources, LLC (“Ajax” or the “Company”) and affiliates of Kelso & Company (“Kelso”) signed a definitive agreement to acquire the Permian Basin assets of W&T Offshore, Inc. (“W&T”).

Ajax is a newly-formed oil and gas company established to acquire W&T's Permian Basin assets. Ajax will be led by Executive Chairman Forrest Wylie. Mr. Wylie has 26 years of experience in the energy sector working for public E&P, offshore drilling, energy marketing and midstream businesses, and has served as CEO, Chairman or Board Member for multiple Kelso portfolio companies over the past 12 years. Mr. Wylie is a member of the Kelso Specialist Network. Ajax represents Kelso’s 10th energy transaction with Mr. Wylie.