camino natural resources acquisition
We can work marketing better now that were bigger and optimizing our infrastructure, whether its water handling or selling gas and moving NGL downstream with pipes. Our assets. Unauthorized distribution, transmission or republication strictly prohibited. Operator of an independent oil and natural gas company operating in the Central Oklahoma region. This copy is for your personal, non-commercial use only. Feishang Group Limited (CHNR's controlling shareholder) owns 70% of Williams Minerals and Top Pacific (China) Limited, a non-affiliate, owns the remaining 30%. Apollo had assets under management of approximately $455 billion as of December 31, 2020 in its various affiliated private equity, credit, and real estate funds. J.P. Morgan Securities LLC is serving as lead financial advisor to Double Eagle and sponsors, with Citi and RBC Capital Markets also acting as financial advisors. With over 100,000 net acres, Camino is pursuing its growth strategy by applying strong technical analysis and operational integration, resulting in industry leading well results and . Polzin was in charge of the newly-renamed Centennial Resource Development Inc. Interwell spacing was way too tight over the last couple of years, and people are now having to up-space and come back, but also the combined targeting of the formations. Its a different answer for every well depending on where you are at in the basin and whether youve got more gas or more pressure to work with versus oily and lower pressure. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Actividades. 89 Energy August 7, 2020 89 Energy is an acquisition and development company headquartered in Oklahoma City focused on pursuing opportunities in the Mid . The last thing were worried about is production growth, Polzin said. Nivel intermedio (fases 3 y 4) La innovacin cientfica y tcnica. For investor relations, please contact Michael Dalton at (713) 452-2000. Most homes have some risk of natural disasters, and may be impacted by climate change due to rising temperatures and sea levels. Editor's note: Updated Sept. 3, 2019. From 1986 to 1988, he was a financial analyst in the Mergers & Acquisition Department of Morgan Stanley & Company. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. There 2023-02-24 - The Permian pure play is selling off midstream assets and upstream leasehold that cant compete for capital in the companys portfolio, Diamondback Chairman and CEO Travis Stice told investors. Cision Distribution 888-776-0942 from 208 actively producing wells in CO . Land / Acreage . All rights reserved. It got drilled too tightly, and there were really high expectations. Pioneer will issue approximately 27.2 million shares of common stock in the transaction with an additional $1 billion of cash. Additionally, we are excited to be shareholders in Pioneer as we are firm believers in their strategy of free cash flow generation that enables a competitive base and strong variable dividend.. Scale is seen as part of the longer model for private equity in the oil and gas space. Jan 26 2023. The company has an estimated daily production Additionally, our team's ability to deliver creative solutions in a challenging market while executing on our promises to customers has clearly differentiated us from others in the region. The fit and the synergies are clear, and we look forward to working with Pioneer to continue creating value., Geoffrey Strong, Senior Partner and Co-Head of Infrastructure and Natural Resources of Apollo, commented, The combination of Pioneer and DoublePoint is compelling from both a financial and operational standpoint and a natural fit for DoublePoint. Usamos como recurso la cancin "Aprieta el botn" del grupo musical boliviano Animal de ciudad. Certain folks had views that they were independent petroleum systems and you could stack wells, or drill Woodford wells and then come on top and drill lower Mississippian, and not have interference. Tue, 03/01/2022 - 11:40 AM. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Troy Energy, a newly formed, independent oil and gas acquisition, development, and exploration company based in Oklahoma City recently acquired some assets from Camino Natural Resources. So we said lets try it again. DALLAS (PRWEB) February 13, 2018 Archeio Technologies (Archeio) announces that Camino Natural Resources, LLC (Camino), one of the largest privately held energy producers in Oklahoma, has selected its cloud-based oil & gas document management software. Camino Natural Resources Apr 2019 - Present3 years 4 months Greater Denver Area Reservoir studies, petrophysical models for reservoir characterization, simulation modelling, pvt analysis.. Instead, former EOG Resources Inc. CEO Mark Papa and his Silver Run special purpose acquisition company came calling in mid-2016, eager for an entry into the Delaware. We will do additional testing with some artificial lift mechanisms to try to get that frac fluid back and return those [wells] to previously forecasted rates, he said. Camino Natural Resources LLC, an oil-and-gas company backed by NGP Energy Capital Management, is once again acting as a consolidator in the private-equity firm's portfolio. of 27,715 BBLs oil October 22,2019 : Camino Natural Resources LLC completed the ASH 0807 36-1-1WH well in Grady,OK . The company reduced its capex by 70% over last years spend. For more information on Quantum, please visit www.quantumep.com. There is no guarantee that the Acquisition will close or be completed at the anticipated valuation and terms, or at all. currently ranked #6 in the state of Oklahoma based on a total production 1401 17th St Ste 1000 Revenue grew $500 million on the strength of production, returning drilling activity, and rebound in market prices. Camino hopes it can bring a rig back if prices inch up, but for now all drilling activity has paused. Shale Experts is a Members ONLY resource. The other 3 lots are adjacent to each other and relocated behind it. No forward-looking statement can be guaranteed. FORT WORTH, Texas--(BUSINESS WIRE)--Double Eagle III Midco 2 LLC (the Company or Double Eagle), wholly owned by DoublePoint Energy, LLC (DoublePoint), announced that it has entered into a definitive purchase agreement to sell all leasehold interests, subsidiaries and related assets to Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer"). I expect we will be bigger, and thats the goal. The company made its first acquisition in the middle of 2017. Camino Natural Resources LL is an independent oil and natural gas company operating in the core of the Scoop and Merge plays of Central Oklahoma. Continental [Resources Inc.s] Springboard [SCOOP] is right in the middle of that, the Lone Rock area for Cimarex [Energy Co.], the Cana Fieldall of those go right down the spine of the basin. This acquisition continues the trend of consolidation in the prolific Permian Basin, combining two complementary footprints in a transaction with both top- and bottom-line synergies., Dheeraj Verma, President of Quantum Energy Partners added, Quantum feels very fortunate to have had the opportunity to partner with John, Cody, Josh, Blake, Garrett and their team. Lightly levered. Camino has drilled about 10 wells to date that offset either another operators well across the lease line or one of its own. Camino Natural Resources, Llc Open. Buy some other companies, maybe, but the goal is to be bigger because it is just a better economic, stable position for everybody involved. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Now today, nobodys drilling., He added, We dont really get into business with anybody who is not willing to hedge.. Additional hedges are also being examined as far out as 2023. Now, the new world order is like the old world order on steroids. Northleaf Capital Raises $675 Million to Back Private-Equity Funds, Deals, Investcorp Collects More Than $1.2 Billion to Invest in North America, Apollo in Talks to Buy Aerospace-Parts Maker Arconic, Corry Capital Closes $484 Million Life-Settlements Fund. Camino Natural Resources is an independent oil and natural gas acquisition and development company with an operational focus in the Mid-continent region. Whereas with most of our companies, we have not only hedged their It still has those same characteristics, he said. There absolutely are issues with parent wells, and thats a big piece of wanting to understand how to protect the parent, how [to] produce that parent and help it get the frac fluid off early. 2023 Hart Energy. This press release includes forward-looking statements within the meaning of the U.S. federal securities laws. We were anticipating a tough market. https://www.wsj.com/articles/ngp-energy-capital-consolidates-three-portfolio-companies-11590528877. Camino is absorbing two other companies backed by Dallas-based NGP, Luxe Energy LLC and 89 Energy II LLC, according to people familiar with the matter. . Database of selected U.S. and international exploration wells. Mr. Wong Wah On Edward, Chairman of the Company, commented, "Lithium has become one of the most sought-after and highest appreciating minerals given its proven power advantages. Rock-wise, [the SCOOP/STACK/Merge] had a lot of productivity, Polzin, now CEO of Camino, explained. There is no 500-foot spacing; its 1,200-plus foot spacing. This transaction is valued at approximately $6.4 billion as of April 1, 2021, comprised of approximately 27.2 million shares of Pioneer common stock, $1 billion of cash and approximately $0.9 billion of debt and liabilities. hartenergyconferences.com . The Woodford is also thick in the middle of the basin. Camino intends to be a consolidator when the time comes, adding more of the critical scale it covets. The result was Denver-based Camino Natural Resources LLC. and 27,715 MCF of gas, Buyer Type (PE or Strategic) . The transaction was unanimously approved by the Board of Directors of each company and is expected to close in the second quarter of 2021, subject to customary closing conditions and regulatory approvals. There was a lot of common DNA [such as] running multiple rigs in a big shale play and having quality [rock and people] and financially [being capable of going] public. They are an independent oil and natural gas company operating in the core of the SCOOP and Merge plays of Central Oklahoma. Vinson & Elkins LLP and Alston & Bird LLP are serving as legal advisors to Double Eagle. At the same time, there is a significant supply shortage, which puts an even greater value on asset owners and mines. Under these agreements, Bison will exclusively manage each company's water infrastructure within their respective portions of the combined ~1.5 million-acre dedicated area across Grady, McClain, Garvin and Canadian counties. Camino Snapshot Significant Commitments - >$1B of Equity Committed: NGP + Co-Investors - >$400MM Borrowing Base Large Scale Operations - One of largest Private Co's in S/S/Merge - ~80 on the team - ~120,000 net acres - >40,000 Boe/d net (~50% liquids)(1) - ~60 wells spud; 2 rigs running Stand-Alone Staying Power Our basin gets gassier to the west and oilier to the east, but quite frankly, weve found when you are looking for returns, it is not the oilier eastern part that has the highest returns, Polzin said. The deals left a pair of veteran leadership teams without a home. Scoops about Camino Paving . 34.73. Access to in-depth interviews with industry insiders. We expect similar opportunities to emerge in the coming months on both the commercial and consolidation fronts, and we look forward to sharing our progress as those materialize.". Address 1401 17th St Ste 1000 Denver Co 80202-1247. Camino Natural Resources retained EnergyNet for the sale of three separate packages of operated and nonoperated opportunities in the Midcontinent region located in Central Oklahoma, the Anadarko Basin and the Mississippi Lime play. Camino Natural Resources Llc Camino Natural Resources LLC is developing the stack scoop with a focus in Caddo, Blaine, Garvin, Carter, Stephens, Canadian and Grady counties. I think public companies reposition the optics of their hedge book depending on the direction of commodities prices, but generally speaking they hedge about half of their next years production. It will probably run about flat this year, but were really not aiming to be flat. Operators were pushing the boundaries of the core, while the issue of parent/child well interference began to rear its ugly head. Ward Polzin was in Dallas when an email ticked into his inbox the morning of January 17, 2013. By February 2020, the company was operating a single rig. The culmination of these deals brought Caminos holding to roughly 100,000 acres split evenly between the SCOOP and the Merge. It was an opportunity for the Camino team and its investors that wouldnt arise somewhere like the Permian Basin, where many billion-plus dollar private-equity-backed operators reside. (SOURCE: CAMINO NATURAL RESOURCES LLC) The bigger you are, historically its either a go public or a smaller buyer universe,Camino CFO Ryley Hegarty said. New Listings in 91730. Previously, . You need to be prepared to run that thing for the long term. Information on assets, buyers and sellers, deal values, and more. Its an output, not an input. Co-Chief Executive Officer and Board Member, Vice President & Chief Accounting Officer, To view Camino Natural Resourcess complete executive team members history, request access, To view Camino Natural Resourcess complete board members history, request access, To view Camino Natural Resourcess complete investments history, request access, Morningstar Institutional Equity Research. We were certainly giving up upside but reducing our downside.. Camino Paving Inc is a company that operates in the Oil & Energy industry. Caminos Cora Mae 10-15-1WH well is located in Grady County, Okla. Camino has drilled someof the SCOOPs top wells. Operators in New Mexico. Weve tried to focus in those areas as well, whether its STACK, SCOOP or Merge. For more information regarding the company, visit our website at www.BisonOK.com or email us at [emailprotected]. 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