Touted early on as Permian Jr., the play was deemed an expensive underachiever by pundits. 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. 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. The probe was an offset to a Ward-operated well that was drilled a year before the acquisition. Additional hedges are also being examined as far out as 2023. Land / Acreage . 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. 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? Subscribe to the magazinehere. 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. Ward is Executive Chairman of Camino Natural Resources, LLC, an NGP portfolio oil and gas company started in 2017. The capital markets felt like they got burned and threw the baby out with the bath water.. In addition, fracture-driven well interaction issues arose once operators pushed aggressive well spacings during development. This press release is not an offer of securities for sale in the United States. We thought it had a lot of running room, and we wanted to go big again. Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. The plan is to lower its debt from 2x EBITDA to closer to 1x by year-end. Enverus: Camino Natural Resources is a privately held operating company that focuses on running lean operations for maximum efficiency. This copy is for your personal, non-commercial use only. 9581 Retreat Pl; 9318 Hellman . Database of selected U.S. and international exploration wells. GIS Manager. 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. Jan 2017 - Feb 2023). Most homes have some risk of natural disasters, and may be impacted by climate change due to rising temperatures and sea levels. Mailing Address Camino Natural Resources, LLC Attn: Division Order Department 1401 . Camino Natural Resources Jan 2018 - Present5 years 1 month Greater Denver Area In my current role with Camino, I manage development activities for a growing private E&P company. 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. Pioneer will issue approximately 27.2 million shares of common stock in the transaction with an additional $1 billion of cash. There is a trend with some primo rock. I want to be a survivor, and we will be. Bankruptcies in the space have already begun, and many more are expected. Our assets. Its oil production is 100% hedged for 2021. are 20 permits filed with the state 2023 Hart Energy. of 27,715 BBLs oil New Mexico Wells Drilled by Operator in 2021. . You have multiple zones. Intrigued, Polzin agreed, but he needed afew months to tie up his affairs with the investment bank. The company reduced its capex by 70% over last years spend. For more information about the Acquisition, please see the Report on Form 6-K furnished by CHNR with the U.S. Securities and Exchange Commission (the "SEC") on February 28, 2023. [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. 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. 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. Popular Searches Camino Paving Camino Paving Inc Camino Natural Resources LLC Camino Resources Camino Resources LLC Revenue $20.7 M Employees 37 Founded 1976 Its more of that U-shaped recovery. Camino Natural Resources, Llc I think the capital markets narrative that the Midcontinent will never recover is a false narrativeits fake news, Hayes said. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. In late 2019, Camino was running three rigs on its western Oklahoma acreage. Merge with some other companies, maybe. Seth Urruty, COO of Oklahoma-based independent Camino Natural Resources, sat down with Jessica Morales to discuss staying attractive. Natural Resources; Energy Transition; Our Team; Investments. Camino has drilled about 10 wells to date that offset either another operators well across the lease line or one of its own. Now, the new world order is like the old world order on steroids. 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. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. 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. 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. With over 100,000 net acres in the SCOOP and Merge plays of Central Oklahoma. Aprieta el botn (profesores) Esta actividad est diseada para la fase 4. 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. Database of selected U.S. and international exploration wells. of N/A. Centennial was sold to Silver Run later that year. 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. We think this is going to be a rough environment through 2021. Information on assets, buyers and sellers, deal values, and more. Camino Paving Inc is a company that operates in the Oil & Energy industry. Operating throughout the STACK/Merge/SCOOP, Camino Natural Resources is taking the SCOOPs southern sweet spot into the Ardmore Basin, Camino Natural Resources retained EnergyNet for the sale of three separate packages ofoperated and nonoperated opportunities in the, Camino Natural Resources retained Detring Energy Advisors for the sale of assets located in the western SCOOP/STACK of the Anadarko, Margins are strong in the multistream SCOOP, STACK and Merge where operators are dialing up the hydrocarbon weighting they want from, In just three years, Camino Natural Resources has grown a SCOOP and Merge position of more than 100,000 net acresand it continues to. As a result, we have steadily added long-term large-scale commercial contracts throughout the year with both new and existing customers. Pioneer plans to finance the cash portion of the purchase price through a combination of cash on-hand and existing borrowing capacity under its revolving credit facility. You gain pressure to the west, but you lose oil. Camino Natural Resources, Llc is 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. 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. 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. There Bison now operates more than 15 long-term dedications covering an ~12 million-acre area spanning the entire Anadarko Basin. Survival is on a lot of minds in the oil patch today. HONG KONG, Feb. 28, 2023 /PRNewswire/ -- China Natural Resources Inc. (NASDAQ: CHNR) (the "Company" or "CHN R") an nounced today that the . Pioneer Natural Resources Company (NYSE:PXD) is considering an acquisition of Range Resources Corporation (NYSE:RRC), according to people familiar with the the matter. With backing from private equity firm Natural Gas Partners, Camino is pursuing a growth strategy, according to the company website. Dec 2018 - Present4 years 3 months. 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. 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. Patrick Leach All rights reserved. The company has an estimated daily production Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement. You lose pressure when you move to the east. For more information regarding the company, visit our website at www.BisonOK.com or email us at [emailprotected]. 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. SCOOP and Merge plays of Central Oklahoma. Rock-wise, [the SCOOP/STACK/Merge] had a lot of productivity, Polzin, now CEO of Camino, explained. It was originally published June 1, 2020.]. Phone Inquiry Line: (720) 405-2780 NOTE: Please have your owner number available before calling and give us 24 hours to return your phone call. No forward-looking statement can be guaranteed. 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. When the original SCOOP area started around 2012, it was right atop of the very thick Woodford. Information on assets, buyers and sellers, deal values, and more. The company reviewed several basins and a multitude of deals before landing on the SCOOP/STACK/Merge. Revenue grew $500 million on the strength of production, returning drilling activity, and rebound in market prices. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Previously, . There will always be room for the small, entrepreneurial, focused company, but we think we need to position ourselves to be a larger private. Through those acquisitions, 89 and Rebellion each had a rig running, so we stepped into some activity, said Camino COO Seth Urruty. It is also fortunate to be able to continue paying down debt. 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. There were a lot of private-equity-backed companies there, but they were [generally] small. Rextag database of energy infrastructure assets. Founded in 2005, Magnetar is a leading alternative asset manager with approximately $12.9 billion in assets under management as of January 2021. Oil and gas explorer Pioneer Natural Resources Co said on Friday that it . NEW YORK, Nov. 30, 2020 /PRNewswire/ -- Far Peak Acquisition Corporation (the "Company") announced today that it has commenced its initial public offering ("IPO") of . Thats been a negative for our play. Most drilling has been done with one year to three years between completions, and the company has encountered infillor childwell degradation. 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. them appeared prepared to take on the role of being a singular, large entity. Buy some other companies, maybe, but the goal is to be bigger because it is just a better economic, stable position for everybody involved. To be a rough environment through 2021 may cause actual results to differ materially from those expressed any. Predict and analyze US & Canada activities the probe was an offset to a Ward-operated well that was drilled year! Living within cash flow approach 1x by year-end now, the play was an. Email US at [ emailprotected ] order is like the old world order is like the old order. 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