DoublePoint is a Fort Worth, Texas based upstream oil and gas company, led by the Double Eagle management team in partnership with FourPoint Energy. Year of Investment. USD. Its an output, not an input. The Woodford is also thick in the middle of the basin. Magnetar's Energy and Infrastructure Group has actively invested in the North American energy and infrastructure sector for 15+ years and has committed over $6 billion across more than 60 private energy, infrastructure and renewables investments. Corporate Development Investor Relations Touted early on as Permian Jr., the play was deemed an expensive underachiever by pundits. them appeared prepared to take on the role of being a singular, large entity. NGP expects to complete the mergers by late June, one of the people said. SCOOP and Merge plays of Central Oklahoma. Camino knew the area was complex. . Open. The Texas-based oil and gas explorer is weighing a deal for the smaller US rival as it seeks further consolidation in the shale industry, the people said, asking not to be . 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.. Polzin was in charge of the newly-renamed Centennial Resource Development Inc. To last longer, you need to be financially conservative, frankly, and create optionality. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the intent, belief and current expectations of the Company, its directors or its officers with respect to the ability to locate and execute on strategic opportunities; the impact of the rising commodity prices; the potential presence of minerals in the Zimbabwean lithium mine; the potential closing of the Acquisition; the vesting of ownership of the regions of the Zimbabwean mine and the timing thereof; the level of demand for lithium and other precious minerals; and the availability of internally generated funds and funds for the payment of operating expenses, capital expenditures and the Company's growth strategy. Founded in 2005, Magnetar is a leading alternative asset manager with approximately $12.9 billion in assets under management as of January 2021. The transaction is structured as the acquisition by a Pioneer subsidiary of 100% of the limited liability company interests of DoublePoints wholly owned subsidiary, Double Eagle III Midco 1 LLC. Camino Natural Resources, LLC ("Camino") is an independent oil and natural gas company with assets in the core of the SCOOP and Merge plays in Oklahoma. As a result, we have steadily added long-term large-scale commercial contracts throughout the year with both new and existing customers. The last thing were worried about is production growth, Polzin said. But how does a company headquartered in the Rockies and filled with veterans of the Permian and Marcellus shales end up with an appetite for acreage in western Oklahoma? Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. Now, the new world order is like the old world order on steroids. 2023-02-27 - Houston-based private equity firm Quantum Energy Partners is backing Bison Oil & Gas IV to acquire and develop oil and gas assets in Colorado and Wyoming. Camino Natural Resources, LLC ("Camino") is an independent oil and natural gas company operating in the core of the SCOOP and Merge plays of Central Oklahoma. Pioneer Natural Resources denies report of acquisition interest Reuters The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. New Listings in 91730. Today, they are at zero. There is no question about that.. (SOURCE: CAMINO NATURAL RESOURCES LLC) Camino hopes it can bring a rig back if prices inch up, but for now all drilling activity has paused. Weve tried to focus in those areas as well, whether its STACK, SCOOP or Merge. You gain pressure to the west, but you lose oil. There NGP partner Chris Carter introduced Urruty to Polzin, and the pair hit it off. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Sometimes a portion will also be pushed into the following year. All rights reserved. After closing, existing Pioneer shareholders will own approximately 89% of the combined company and existing DoublePoint owners will own approximately 11% of the combined company. This copy is for your personal, non-commercial use only. Youve got to find that right mix of high pressure, and therefore productivity, and the right blend of oil, gas and NGL.. Faced with challenges with commodity prices and geology in the Western Anadarko Basin, FourPoint Energys Jacob Shumway told DUG, A Three Forks producer by WPX, a Woodford completion in Grady County, Okla., and an oil discovery offshore Angola top this weeks, Public E&P investors are insisting that operators produce returns, so private-equity-backed E&Ps wanting to sell to a public E, Camino Natural Resources retained Detring for the sale of producing properties, leasehold and related assets located in Grady County. When the original SCOOP area started around 2012, it was right atop of the very thick Woodford. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. Camino Natural Resources is an independent oil and natural gas company operating over 100,000 net acres in the core of the Scoop and Merge plays of Central Oklahoma. There is no guarantee that the Acquisition will close or be completed at the anticipated valuation and terms, or at all. Denver, CO 80202 Backed by private equity firm NGP Energy Capital Management (NGP), the oil & gas startup acquired four major assets and other properties in the South Central Oklahoma Oil Province (SCOOP) and Sooner Trend Anadarko Canadian Kingfisher (STACK) of Oklahoma, which rapidly transformed the company into one of the largest private oil & gas producers in the region. There were a lot of private-equity-backed companies there, but they were [generally] small. 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. Through those acquisitions, 89 and Rebellion each had a rig running, so we stepped into some activity, said Camino COO Seth Urruty. He is a Venture Partner of the NGP funds and brings a wealth of over 35 years of leadership, engineering, commercial, and investing experience in the energy industry. 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. [With] every well we drill, were learning, and were trying to improve and advance, but you have to be cautious that you havent drilled too many wells at a well density or a landing before you have technical certainty on the EURs and well productivity, Urruty said. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. 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. Today, Camino holds about 118,000 net acres in the STACK/SCOOP/Merge and is producing about 40,000 boe/d. Seth Urruty Camino Natural Resources LLC Chief Operating Officer. By having scale we have a large lending capacity with our senior lenders. The industry has emerged from the days of the three-year flip to those of a lower-for-longer and living within cash flow approach. Pioneer Natural Resources Co., one the largest independent US oil producers, is considering an acquisition of Appalachian natural gas producer Range Resources Corp., according to . When typing in this field, a list of search results will appear and be automatically updated as you type. For more information about Apollo, please visit www.apollo.com. It just is what it is. investorrelations@depermian.com, Internet Explorer presents a security risk. Hayes had a proposition: He wanted Polzin to run an MLP the firm would set up in Denver. NGP asked Polzin if he would shift his priorities and build a team that could execute in the Delaware and get the producer on an IPO track. Prices for top E&P stocks and commodities. The company has an estimated daily production of 27,715 BBLs oil and 27,715 MCF of gas, coming from 208 actively producing wells in the state. We hope to do some deals., Hayes added, They are very well hedged. The company employs different strategies for managing the primary well to help optimize the fracture complexity in the child. So we had these two groups that had done these large, private-equity-backed things on the cusp of going public, sold at roughly the same time, Polzin said. Provided by EnergyNet. 582 Camino De Teodoro currently has a single family building on it. He and his team navigated Centennial through the ebb and flow of 2014 and 2015, successfully driving costs down and productivity up, and began positioning the company to go public. This copy is for your personal, non-commercial use only. 2023 Shale Experts, All rights reserved. Track new and recompletion permits by: well name, class, (Oil, Gas, etc) county, state, operator, permit date and, status, API, lease information, and legal description, Rig Locations Map / Database: Updated Weekly, Search and view rig locations by: operator, well name, county, state, and wellbore type, Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages. Most homes have some risk of natural disasters, and may be impacted by climate change due to rising temperatures and sea levels. They stand out among smaller industry players in that geography as a team that is a likely consolidator based on the strength of their balance sheet and strength Database of selected U.S. and international exploration wells. Get near real-time access to futures pricing, major energy stocks, and related articles and insights. The underlying Woodford Shale in western Oklahoma is shallow in the east and deep in the west. When it became apparent that oil prices were heading for $50, the company moved down to a two-rig program to stay within cash flow. Merge with some other companies, maybe. 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. 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"). Access to in-depth interviews with industry insiders. During 2018 and 2019, the company locked in pricing for its 2020 and 2021 production. Subject to the terms and conditions of the Sale and Purchase Agreement, the Company plans to issue restricted shares as 50% of the consideration for the Acquisition, with the remaining 50% of the consideration comprised of a promissory note and/or cash, for maximum consideration of US$1.75 billion (3.5 million estimated tons of measured, indicated and inferred resources of lithium oxide (grade 1.06% or above in accordance with the standard under the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) priced at US$500 per ton). The same year, a Marcellus producer, Vantage Energy Inc., was purchased by Rice Energy Inc. for $2.7 billion. Focus. https://www.wsj.com/articles/ngp-energy-capital-consolidates-three-portfolio-companies-11590528877. Forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors. We are honored to have the opportunity to combine our business with Pioneer, who we have long admired and regard as the premier operator in the Midland Basin. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. Camino intends to be a consolidator when the time comes, adding more of the critical scale it covets. For the same reasons [that] the publics want to get bigger, we believe that privates need to get bigger, Polzin said. When, in any forward-looking statement, the Company, or its management, expresses an expectation or belief as to future results, that expectation or belief is expressed in good faith and is believed to have a reasonable basis, but there can be no assurance that the stated expectation or belief will result or be achieved or accomplished. For more information on Quantum, please visit www.quantumep.com. +2.24 +6.89%. Operations . Tue, 03/01/2022 - 11:40 AM. You lose pressure when you move to the east. Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. The new NGP-backed ventures first order of business was targeting assets for A&D. Independent oil and natural gas acquisition and development company. 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