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. Jan 2017 - Feb 2023). Camino Natural Resources, Llc Camino is pursuing its growth strategy by applying strong . Operations . Jan 26 2023. New Mexico Wells Drilled by Operator in 2021. Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. 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.". Double Eagle is backed by equity commitments from funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO), Quantum Energy Partners, Magnetar Capital, and Blackstone Credit. 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. Natural Resources; Energy Transition; Media; . Today, basically 100% of the companys PDP wedge is hedged for the balance of 2020. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Denver, Colorado, United States. 2023-01-31 - North Hudson said it's providing capital solutions to small- and mid-sized operators at a time when capital providers in the oil and gas sector are pulling back. View original content:https://www.prnewswire.com/news-releases/china-natural-resources-announces-strategic-acquisition-of-lithium-mine-in-zimbabwe-301757390.html, https://www.prnewswire.com/news-releases/china-natural-resources-announces-strategic-acquisition-of-lithium-mine-in-zimbabwe-301757390.html, Novavax to pause RSV vaccine trial, assess pipeline, Ex-US congressman 'abused trust' to trade before mergers, prosecutor says, WRAPUP 1-Fed officials debate higher vs. just longer after January inflation jump, 'Enough pollution' in minority area eyed for NJ power plant, UPDATE 1-HSBC activist shareholder demands AGM vote on Asia business spin-off. For Inquiries concerning division orders or revenue payments, please feel free to utilize our phone inquiry line, mailing address, email address, or online option below. (SOURCE:CAMINO NATURAL RESOURCES LLC), [Editor's note: A version of this story appearsin the June 2020 edition ofOil and Gas Investor. 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. 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. 9581 Retreat Pl; 9318 Hellman . Lightly levered. and 27,715 MCF of gas, 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. There is no guarantee that the Acquisition will close or be completed at the anticipated valuation and terms, or at all. 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 7 min read. 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. 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. It was that common DNA across Vantage and Centennial. Generally, forward-looking statements do not relate strictly to historical or current facts and may include words such as believes, will, expects, anticipates, intends or similar words or phrases. SEARCH BY. Oct 25, 2013. vantageenergy.com . With over 100,000 net acres, Camino is pursuing a growth strategy with a focus on strong technical analysis, industry leading well results, attractive investment returns and a conservative balance sheet. Most homes have some risk of natural disasters, and may be impacted by climate change due to rising temperatures and sea levels. Camino Natural Resources is an independent oil and natural gas acquisition and development company with an operational focus in the Mid-continent region. For more information on Quantum, please visit www.quantumep.com. During the land rush, people paid up for it while there was still a lot of learning going on across the industry. You need to be prepared to run that thing for the long term. 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. Now, the new world order is like the old world order on steroids. I want to be a survivor, and we will be. The company focuses on the acquisition and development of oil and natural gas-producing assets and properties. NGP expects to complete the mergers by late June, one of the people said. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. The result was Denver-based Camino Natural Resources LLC. NGP had conversations with Vantage vice president Seth Urruty about possibly moving forward with a new NGP-backed venture, but then a light bulb went off. Nov 30, 2020, 17:06 ET. 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. Information on assets, buyers and sellers, deal values, and more. Get near real-time access to futures pricing, major energy stocks, and related articles and insights. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Caminos Cora Mae 10-15-1WH well is located in Grady County, Okla. Camino has drilled someof the SCOOPs top wells. Consolidation in our industry has never been more essential than it is today, making this a particularly timely and important next phase of growth for Bison's water midstream business. We were certainly giving up upside but reducing our downside.. Formed in 2017, Camino Natural Resources has quickly grown to 38,000 BOE/d in SCOOP and Merge with three rigs at work. [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. There is no 500-foot spacing; its 1,200-plus foot spacing. Subscribe to the magazinehere. 2023 Shale Experts, All rights reserved. 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 . HONG KONG, Feb. 28, 2023 /PRNewswire/ -- China Natural Resources Inc . To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Camino intends to be a consolidator when the time comes, adding more of the critical scale it covets. 34.73. The plan is to lower its debt from 2x EBITDA to closer to 1x by year-end. At Vantage, that was a 10-year run for those guys. Camino was founded by Ward Polzin, a veteran energy executive and founding CEO of Centennial Resource Development. Scale is seen as part of the longer model for private equity in the oil and gas space. For each region of the lithium mine, until the Company's ownership vests, the Sellers will maintain legal possession and control, including the right to exploration, sales of lithium, and the revenue derived therefrom, as well as liability for operational costs and third-party claims. Completion of the Acquisition is contingent upon the satisfaction of a number of conditions, including, among other things, financing, due diligence results, issuance of independent technical reports, and the Company's cash and restricted share settlement of the total consideration. Oil and natural gas production in New Mexico delivered $5.3 billion in state and local tax revenue - the highest figure ever recorded in New Mexico history. Rock-wise, [the SCOOP/STACK/Merge] had a lot of productivity, Polzin, now CEO of Camino, explained. 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. That could be a good place to be if oil goes to $80, but a bad place when it goes to $20. Today, Camino holds about 118,000 net acres in the STACK/SCOOP/Merge and is producing about 40,000 boe/d. We hope you enjoyed your trial to the website. Whereas with most of our companies, we have not only hedged their With over 100,000 net acres in the SCOOP and Merge plays of Central Oklahoma. of N/A. Sometimes a portion will also be pushed into the following year. Camino has not only gotten bigger via acreage deals; they have also integrated, taking on a midstream partnership with Cardinal Midstream and its Iron Horse System and a minerals partnership with Land Run Minerals. They simply were not capitalized to do so. 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. The company reduced its capex by 70% over last years spend. DoublePoint is a Fort Worth, Texas based upstream oil and gas company, led by the Double Eagle management team in partnership with FourPoint Energy. 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 . 2023-02-27 - Retired NGP co-founder Ken Hersh shares lessons learned in the energy private equity firms first 28 years, green lights and red lights, growing a new investment class and repotting plants. You lose pressure when you move to the east. The per barrel cost to develop in the region swelled to the upper-$40 range by some estimates. Cody Campbell and John Sellers, Co-CEOs of DoublePoint said, We are proud and appreciative of the work that our team has done to build a company and an asset base that is unparalleled in quality and truly cannot be replicated. Denver, Colorado. October 22,2019 : Camino Natural Resources LLC completed the CORA MAE 0506 10-15-1MH well in Grady,OK . With backing from private equity firm Natural Gas Partners, Camino is pursuing a growth strategy, according to the company website. IP from the ABEL well was 18 MMcf/d of natural gas and 450 bbl/d of oil with a high NGL cut. Camino Natural Resources Profile: Midcontinent Mover, Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), Crestwood Midstream Announces Upsized Private Offering of $600 Million, Quantum Energy Partners Commits $500 Million for D-J Basin Deals, Asset Development, Diamondback Doubles Asset Sales Target to $1B, Reveals More Midland M&A, North Hudson Launches $275 Million Oil, Gas Credit Fund, Oil and Gas Investor Magazine - June 2020. Address 1401 17th St Ste 1000 Denver Co 80202-1247. Search 176,552 Deals Now. In contrast, Camino has hedged a lot. Headquarters. Cision Distribution 888-776-0942 Join MineralAnswers.com for Production Access. Shale Experts offers the most COMPLETE coverage of the . The Company will pay an aggregate of US$35 million by way of promissory notes and/or cash as a deposit if it chooses to proceed with the Acquisition after completion of due diligence, and an aggregate of US$140 million by way of promissory notes and/or cash as an initial installment. the state. 2017. [We found] the sweet spot runs southeast to northwest in our basin. 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? Additional hedges are also being examined as far out as 2023. 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. 1401 17th Street, Suite 900 CO . Feishang Group Limited (CHNR's controlling shareholder) owns 70% of Williams Minerals and Top Pacific (China) Limited, a non-affiliate, owns the remaining 30%. Focus. 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. The capital markets felt like they got burned and threw the baby out with the bath water.. 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. If we are going to be here a long time, were not going to roll the dice, so to speak, and be unhedged, Polzin said. from 8 AM - 9 PM ET. Founded in 2005, Magnetar is a leading alternative asset manager with approximately $12.9 billion in assets under management as of January 2021. Nivel intermedio (fases 3 y 4) La innovacin cientfica y tcnica. Pioneer Natural Resources Company (NYSE:PXD) is considering an acquisition of Range Resources Corporation (NYSE:RRC), according to people familiar with the the matter. 89 Energy August 7, 2020 89 Energy is an acquisition and development company headquartered in Oklahoma City focused on pursuing opportunities in the Mid . We had a track record with our previous companies of improving EURs and production rates, reducing costs and getting full cycle returns out of that, Polzin said. Additionally, Bison announced that it has entered into a 15-year water gathering and disposal agreement with Camino Natural Resources, a 30-year water gathering agreement with another active private operator in the SCOOP and expanded the dedication under its existing long-term agreement with Paloma Operating Company. This press release contains forward-looking statements based on Double Eagles current expectations that involve a number of risks and uncertainties. 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. Independent oil and natural gas acquisition and development company. 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. Total 4 lots, 564, 582, 604 Camino De Teodoro Walnut, CA 91789 APN: 8722-019-025, 8722-019-028, 8722-019-029, 8722-019-033. DoublePoint is backed by equity commitments from funds managed by affiliates of Apollo Global Management, Inc., Quantum Energy Partners, Magnetar Capital, and Blackstone Credit. 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. SCOOP and Merge plays of Central Oklahoma. Previously, . With over 100,000 net acres, Camino is pursuing a growth strategy with a focus on strong technical analysis, industry leading well results, attractive investment returns and a conservative balance sheet. By the end of January 2018, Camino closed its fourth acquisitionthe purchase of Chesapeake Energy Corp.s Merge position. . Tue, 03/01/2022 - 11:40 AM. Aprieta el botn (profesores) Esta actividad est diseada para la fase 4. Camino hopes it can bring a rig back if prices inch up, but for now all drilling activity has paused. 582 Camino De Teodoro currently has a single family building on it. NAPE: Chesapeake CEO Lawler Aims For 'All's Well That Ends Well' Ward Energy Partners Sells Scoop, Hoxbar Assets, This content is locked until you subscribe. 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