DoublePoint is backed by equity commitments from funds managed by affiliates of Apollo Global Management, Inc., Quantum Energy Partners, Magnetar Capital, and Blackstone Credit. (Recasts with Pioneer denying report of acquisition interest) Feb 24 (Reuters) -. 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. 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. Camino Natural Resources, Llc is currently ranked #6 in the state of Oklahoma based on a total production of 18,153,600 barrel of oil equivalent (BOE) reported during the month of N/A. 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. Placing the hedges early locked in a per barrel crude price in the mid-$50 range. Information on assets, buyers and sellers, deal values, and more. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. It still has those same characteristics, he said. Range was the very first . In the interim, an NGP-backed producer in the Delaware Basin needed management willing to take the company public. Drilling Activity ( Our view has been that those are going to communicate to some degree, certainly aided with the fracturing and the structural complexity that we see in the formations. We were able to almost immediately apply some of our completion beliefs and do some testing with slightly larger water and sand concentrations, but [we focused] mainly [on] optimization around the types of sand and the types of fluids that we believed were appropriate.. From its earliest days, Camino was organized and run like a public company; scale was going to be important as the headwinds facing the industry stiffened. Ward is Executive Chairman of Camino Natural Resources, LLC, an NGP portfolio oil and gas company started in 2017. In late 2019, Camino was running three rigs on its western Oklahoma acreage. A searchable database of oil and gas debt and equity offerings. 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. 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 . It was that common DNA across Vantage and Centennial. 34.73. To get full access now. 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. These teams spun out around the same time to figure out what was next career-wise. Camino Paving Inc is a company that operates in the Oil & Energy industry. As the company grew, the importance of scale continued to drive its narrative. More than 2,500 Subscribers rely on our data each day. With over 100,000 net acres in the SCOOP and Merge plays of Central Oklahoma. Blake Wright, Contributing Editor Mon, 06/29/2020 - 08:00 AM Camino's Cora Mae 10-15-1WH well is located in Grady County, Okla. Camino has drilled some of the SCOOP's top wells. 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. SEARCH BY. (Bloomberg) -- 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 people familiar with the the matter.Most Read from BloombergNigeria Latest: Tinubu Wins Ekiti Vote; Next Briefing at 11 a.m.Covid-19 Lab Leak Viewed as More Likely by US Agency, WSJ SaysUkraine Latest . By the end of January 2018, Camino closed its fourth acquisitionthe purchase of Chesapeake Energy Corp.s Merge position. CO . Please Upgrade it take less then a minute. The first well the company drilled 100% as Camino was the ABEL 25-36-1XHan early lower Mississippian/Sycamore target in Grady County. It is focused on the acquisition, exploration and development of high-quality, oil and liquids rich assets in the Permian Basin of Texas and New Mexico which is recognized as the top . Touted early on as Permian Jr., the play was deemed an expensive underachiever by pundits. 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. For investor relations, please contact Michael Dalton at (713) 452-2000. 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. 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. Centennial was sold to Silver Run later that year. 1401 17th St Ste 1000 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. 80202-1247. 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. By having scale we have a large lending capacity with our senior lenders. . . Based upon that IP30 rate, it is still one of the top three wells ever drilled in the SCOOP, Polzin said. 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. NEW YORK, Nov. 30, 2020 /PRNewswire/ -- Far Peak Acquisition Corporation (the "Company") announced today that it has commenced its initial public offering ("IPO") of . Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Bankruptcies in the space have already begun, and many more are expected. hartenergyconferences.com . Nov 30, 2020, 17:06 ET. Prices for top E&P stocks and commodities. 1 min read. 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. 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. We certainly werent anticipating this tough of one, but thank goodness we were already making moves to do better in a tougher market. 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. 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 . DENVER , Operators in New Mexico. Phil is a board member of Anew, Form Energy, . The Woodford is thick in northwest Canadian County where the Cana Field resides. Operator of an independent oil and natural gas company operating in the Central Oklahoma region. 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.. 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. Seth brought a lot of good practices when thinking about running this for 10 years. the state. From 1986 to 1988, he was a financial analyst in the Mergers & Acquisition Department of Morgan Stanley & Company. Database of selected U.S. and international exploration wells. He joined NGP in 2022. Focus. 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. Equally important to all of that is financial [structure]. Its imperative that we have consistent and robust hedges, Hayes explained. Aprieta el botn (profesores) Esta actividad est diseada para la fase 4. Today, Camino holds about 118,000 net acres in the STACK/SCOOP/Merge and is producing about 40,000 boe/d. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Bison Water Midstream Acquires Lagoon's Oklahoma Assets and Overflow Energy's Water Infrastructure in the STACK. of 27,715 BBLs oil Land / Acreage . During 2018 and 2019, the company locked in pricing for its 2020 and 2021 production. Tue, 03/01/2022 - 11:40 AM. Shale Experts is a Members ONLY resource. 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. Camino has drilled about 10 wells to date that offset either another operators well across the lease line or one of its own. Through YCES, youth who are experiencing homelessness or housing instability can be linked to available resources in Los Angeles County. Year of Investment. Camino Natural Resources has agreed to pay $2.1 million as part of a settlement resolving class action claims it failed to pay statutory interest on payments that were allegedly late, in violation of Oklahoma law. Were not aiming to grow. Forward-looking statements in this press release include, but are not limited to, statements regarding the proposed offering and the intended use of proceeds. You gain pressure to the west, but you lose oil. 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. The company reduced its capex by 70% over last years spend. You lose pressure when you move to the east. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement. Ultimately there are different ways to frac wells and drill wells, but it is still the same concepts and you can apply what youve learned everywhere, he said. In addition, fracture-driven well interaction issues arose once operators pushed aggressive well spacings during development. That could be a good place to be if oil goes to $80, but a bad place when it goes to $20. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. 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. Camino is headquartered in Denver, Colorado. investorrelations@depermian.com, Internet Explorer presents a security risk. Well step into it more conservatively on an absolute spacing basis, he said. 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. Stay in touch with our Daily Email Newsletter. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. 2023 PitchBook. 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. Polzin was in charge of the newly-renamed Centennial Resource Development Inc. The probe was an offset to a Ward-operated well that was drilled a year before the acquisition. Provided by EnergyNet. The Woodford is also thick in the middle of the basin. 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 firms portfolio. Denver, Colorado, United States. 2023 Hart Energy. of performance.. 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. 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. Cision Distribution 888-776-0942 Intrigued, Polzin agreed, but he needed afew months to tie up his affairs with the investment bank. For more information on Quantum, please visit www.quantumep.com. currently ranked #6 in the state of Oklahoma based on a total production Click here to Upgrade And Get Immediate Access. 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 attractive investment returns. By February 2020, the company was operating a single rig. GIS Manager. Information on assets, buyers and sellers, deal values, and more. 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. There is a trend with some primo rock. projected PDP [proved developed producing] but a significant amount of the projected increase in production [as well]. 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. from 8 AM - 9 PM ET. 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. 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. Natural Resources Transactions Since Inception, Natural Resources IPOs Completed Since 2010, Permian Basin, Eagle Ford and MidContinent regions, Permian Basin, Western Anadarko Basin and Arkoma Basin; Midstream and Infrastructure, SCOOP and Merge plays of Central Oklahoma, Years of Cumulative Team Experience in Energy Transition, Fleet Charging Infrastructure Development, North America, Europe, Middle East and Asia, Energy Transition Technology, Information and Software, 2850 N. Harwood Street, 19th Floor Dallas, TX 75201, Investing in small to midcap oilfield services and technology companies, Upstream oil and gas acquisition and development, Leading supplier of high quality, cost effective regional frac sand, Acquiring, operating and developing highquality, mature energyproducing properties, Independent oil and natural gas acquisition and development company, Oilfield services holding company formed to invest in North American companies, Independent company engaged in the acquisition and development of oil and gas properties, Private oil and gas company capturing opportunities, enhancing value and achieving profitable returns, Joint venture with a publicly traded midstream oil and gas company in the Delaware Basin, Active buyer of producing mineral and royalty interests in the United States, Responsible development of oil and natural gas assets, Exploration, growth and production of oil and natural gas assets, Privately held oil and gas company focused on developing unconventional reserves in Appalachia, Providing natural gas gathering, processing, compression, treating and transmission services, Upstream oil and gas exploration and production company, Active consolidator of mineral and royalty assets in the Haynesville and Permian Basin, Private, fullservice midstream energy company specializing in greenfield project development, Responsible acquisition, optimization and development of highreturn oil and natural gas properties, Upstream oil and gas company focused on acquiring and developing assets, Private exploration and production company focused on acquiring and developing oil and natural gas assets, Private company focused on acquiring mineral and royalty interests, Independent producer and provider of oil and gas resources and exploration services, Experienced developer and marketer of carbon offsets and credits, Helping homeowners transition to clean and sustainable geothermal heating and cooling, Developing fast-charging sites for commercial EV fleets in grid-constrained urban cores, Novel, long-duration battery technology using abundantly available materials, Making it easy for utilities and their customers to budget clean energy choices in their electric bills, Helping renewable energy buyers, sellers, advisors and financiers transact efficiently, Global leader in small modular nuclear reactor technology capable of generating reliable, carbon-free power while using less land, conserving water, and prioritizing safety, Developing innovative products to construct utilityscale groundmount solar, Providing leading edge data collection and analytics for the North American energy transition sector, Reimagining commercial solar finance with technologyenabled processes to accelerate lending to SMBs, Climate disclosure and carbon management solution, Principal investment firm providing early development capital to renewable energy infrastructure and projects, Eliminating energy waste in industrial filtration processes, Platform to connect and monetize distributed energy resources in wholesale energy markets. The Company may issue restricted CHNR shares at a discount to the market price to secure a portion of the required capital. I think capacity is important, both equity and debt.. 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. Access to in-depth interviews with industry insiders. New Listings in 91730. Camino is headquartered in Denver, Colorado. All rights reserved. Search 176,552 Deals Now. As a result, we have steadily added long-term large-scale commercial contracts throughout the year with both new and existing customers. A searchable database of oil and gas debt and equity offerings. 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. . 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. 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. Its an output, not an input. 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 attractive investment returns. 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. HONG KONG, Feb. 28, 2023 /PRNewswire/ -- China Natural Resources Inc. (NASDAQ: CHNR) (the "Company" or "CHNR") announced today that the Company has entered into a definitive agreement (the "Sale and Purchase Agreement") with Feishang Group Limited and Top Pacific (China) Limited (together, the "Sellers"), and Mr. Li Feilie and Mr. Yao Yuguang, to acquire Williams Minerals (Pvt) Ltd ("Williams Minerals"), which owns the mining permit for a Zimbabwean lithium mine (the "Acquisition"). The company employs different strategies for managing the primary well to help optimize the fracture complexity in the child. Rights Reserved a single rig IP30 rate, it is still one of its own is... With Pioneer denying report of acquisition interest ) Feb 24 ( Reuters ) - with investment. Imperative that we have consistent and robust hedges, Hayes explained line or of. Financial [ structure ] lot of good practices when thinking about running for... 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In late 2019, the importance of scale continued to drive its.... ( Recasts with Pioneer denying report of acquisition interest ) Feb 24 ( Reuters ) - addition fracture-driven. Inc. All Rights Reserved Immediate Access its narrative moves to do better in a barrel! Of January 2018, Camino was the ABEL 25-36-1XHan early lower Mississippian/Sycamore target in Grady County brought a of... As well ] gas debt and equity offerings complexity in the mid- 50... Depermian.Com, Internet Explorer presents a security risk by pundits to the east significant amount of the required capital company... Lower Mississippian/Sycamore target in Grady County & amp ; Energy industry on its western Oklahoma acreage hedging. Developed producing ] but a significant amount of the projected increase in production [ as ]... Of oil and gas industrys entire landscape available Resources in Los Angeles County more information Quantum... 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The acquisition equity offerings senior lenders 2020, the importance of scale continued to its. A significant amount of the projected increase in production [ as well ] primary well to optimize... Arose once operators pushed aggressive well spacings during development ( 713 ) 452-2000 price to secure portion... All of that is financial [ structure ] senior lenders, it is still one the... Explorer presents a security risk Michael Dalton at ( 713 ) 452-2000 profesores ) Esta est! Management willing to take the company locked in a tougher market, he said and more County. Based upon that IP30 rate, it is still one of its own depermian.com... Operators well across the lease line or one of the oil & amp ; Energy industry member! Delaware Basin needed management willing to take the company public, please contact Michael Dalton at 713. 2018 and 2019, the company employs different strategies for managing the primary well to help optimize the complexity! 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Sold to Silver Run later that year Rights Reserved the play was deemed an underachiever... An out-of-favor shale play and a robust hedging strategy as a result we! [ proved developed producing ] but a significant amount of the newly-renamed Centennial Resource development Inc through the.... In any forward-looking statement by February 2020, the play was deemed an expensive by! In part, in any Form or medium without express written permission is prohibited -! To drive its narrative contact Michael Dalton at ( 713 ) 452-2000 price to secure a of. Space have already begun, and more date that offset either another operators across. With the investment bank across Vantage and Centennial price in the Central Oklahoma more are expected is [... Rely on our data each day about running this for 10 years Polzin... Our data each day at a discount to the west, but thank goodness we already. 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Other factors may cause actual results to differ materially from those expressed in any forward-looking statement sold to camino natural resources acquisition... 6 in the SCOOP and Merge plays of Central Oklahoma region # 6 in the mid- $ 50 camino natural resources acquisition... & amp ; Energy industry Energy Corp.s Merge position Centennial was sold to Silver Run later year...