Scout Energy Management LLC (“SEM” or the “Manager”) was formed in 2011 and is owned and controlled
by John D. Baschab, Todd A. Flott, and Jon C. Piot.
SEM serves as manager and provides discretionary advisory services to Scout Energy Partners I-A, LP,
Scout Energy Partners I-B, LP, Scout Energy Partners II-A, LP, Scout Energy Partners II-B, LP, Scout
Energy Partners III-A, LP, Scout Energy Partners III-B, LP, Scout Energy Partners IV-A, LP, Scout Energy
Partners IV-B, Scout Energy Partners V-A, LP, Scout Energy Partners V-B, LP, Scout Energy Partners Co-
Invest V-A, LP, Scout Energy Partners Co-Invest V-B, LP, Scout Energy Partners Rangely Co-Invest V-A,
LP, Scout Energy Partners Rangely Co-Invest V-B, LP, Scout Energy Partners VI-A, LP, and Scout Energy
Partners VI-B, LP, all Delaware limited partnerships (each a “Fund” and together, the “Funds”). The Funds
were formed to make direct investments in oil and gas assets and net profits interests in oil and gas assets
located in the United States, and certain other energy-related assets as allowed in the respective Governing
Fund Documents (defined below). SEM also engages in over-the-counter derivative transactions for
commodity price risk management practices. SEM does not give advice with respect to other securities.
SEM does not manage any assets on a non-discretionary basis.
SEM is also registered as an operator with the Texas Railroad Commission, Colorado Oil and Gas
Conservation Commission, Oklahoma Corporation Commission, Kansas Corporation Commission, North
Dakota Industrial Commission, Utah Division of Oil, Gas, and Mining, and Montana Board of Oil and Gas
Conservation, which regulate oil and gas operations in the respective states in which SEM operates. As an
operator, SEM directly oversees, operates and improves acquired assets through the life of the Funds.
Day-to-day operations are managed by field-level staff employed by SEM. SEM may acquire assets
managed by an independent operator, but SEM’s priority is operated properties. SEM seeks to increase
returns through deliberate and thorough underwriting, operational improvements, production enhancement,
in-fill development, and some scale economics.
As manager of the Funds, SEM provides management and administrative
services to the Funds, including
investigating, analyzing, structuring, and negotiating potential acquisitions of properties, monitoring the
performance of such properties, and advising the Funds as to disposition opportunities. However, Fund
investment decisions are made by the Funds’ general partners, Scout Energy Group I, LP, Scout Energy
Group II, LP, Scout Energy Group III, LP, Scout Energy Group IV, LP, Scout Energy Group V, LP, Scout
Energy Group Co-Invest V, LP, Scout Energy Group Rangely Co-Invest V, LP, and Scout Energy Group
VI, LP (collectively the “General Partners”), which are affiliates and relying advisers of the Manager.
Investment advice is provided directly to the Funds and not tailored individually to the limited partners of
the Funds (the “Investors” or “Limited Partners”). SEM manages the assets of the Funds in accordance
with the terms of each Fund’s individual limited partnership agreements and other governing documents
applicable to each Fund (the “Governing Fund Documents”). All terms are generally established at the time
of the formation of a Fund, and are only terminable once the applicable Fund is dissolved, wound up, and
terminated.
The Investors may not restrict investments by the Funds in any capacity beyond the Governing Fund
Documents, and except in limited circumstances, Limited Partners are not permitted to withdraw from a
Fund prior to the Fund’s dissolution.
Equity interests in the Funds (the “Interests”) are not registered under the U.S. Securities Act of 1933, as
amended (the “Securities Act”), and the Funds are not registered under the Investment Company Act of
1940, as amended (the “Investment Company Act”). Accordingly, the Interests in the Funds do not have
the benefit of the protections afforded by the Investment Company Act to investors in registered investment
companies or more highly regulated investment funds. All equity interests in the Funds are offered and sold
exclusively to investors satisfying the applicable eligibility and suitability requirements, in private
transactions pursuant to exemptions available under the Securities Act within the United States.
As of December 31, 2023, SEM managed approximately $2.02 billion of assets on a discretionary basis.