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. We didnt see that one company trying to become a large private company in that space. Instantly unlock over 15 years of A&D transactions and financing data. Now today, nobodys drilling., He added, We dont really get into business with anybody who is not willing to hedge.. The deals left a pair of veteran leadership teams without a home. 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 got drilled too tightly, and there were really high expectations. The Well flowed 824 boe/d which consists of 339 Oil BOPD and 2.814 MMcf of gas on a 7,546 foot lateral . Placing the hedges early locked in a per barrel crude price in the mid-$50 range. In late 2019, Camino was running three rigs on its western Oklahoma acreage. 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 . Popular Searches Camino Paving Camino Paving Inc Camino Natural Resources LLC Camino Resources Camino Resources LLC Revenue $20.7 M Employees 37 Founded 1976 For investor relations, please contact Michael Dalton at (713) 452-2000. Most public companies hedge portions of their production for the span of the current calendar year if they hedge at all. Cision Distribution 888-776-0942 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. 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 performance.. You had this land rush to grab lots of acreage across the basin, but it is not all created equal. [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. 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. New Mexico Wells Drilled by Operator in 2021. The company reduced its capex by 70% over last years spend. We hope to be able to leverage our mining expertise, sales and distribution platforms and balance sheet, as we continue to execute on our long-term business strategy.". Pushing the STACK northwest and northeast did not yield the same results. We thought it had a lot of running room, and we wanted to go big again. The email was from an old friend, David Hayes, a partner at the private-equity firm NGP Energy Capital Management LLC. Today, basically 100% of the companys PDP wedge is hedged for the balance of 2020. Prices for top E&P stocks and commodities. 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. 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. Pioneer will issue approximately 27.2 million shares of common stock in the transaction with an additional $1 billion of cash. The capital markets felt like they got burned and threw the baby out with the bath water.. 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. Prices for top E&P stocks and commodities. In addition, fracture-driven well interaction issues arose once operators pushed aggressive well spacings during development. The plan is to lower its debt from 2x EBITDA to closer to 1x by year-end. 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 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"). For more information about Apollo, please visit www.apollo.com. One area where Camino has proved ahead of the game has been with its robust hedging strategy. of 27,715 BBLs oil coming Weve done that by having the large equity support from NGP. Join MineralAnswers.com for Production Access. 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. Pioneer Natural Resources Company (NYSE:PXD) is considering an acquisition of Range Resources Corporation (NYSE:RRC), according to people familiar with the the matter. Drilling Activity ( 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. We hope to do some deals., Hayes added, They are very well hedged. OKLAHOMA CITY, Oct. 8, 2020 /PRNewswire/ -- Bison, Oklahoma's largest water infrastructure, logistics and technology solutions provider, today announced its acquisition of Woody Creek Midstream, a water midstream company in the SCOOP anchored by a +15-year gathering agreement with Casillas Petroleum Resource Partners. 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. Revenue grew $500 million on the strength of production, returning drilling activity, and rebound in market prices. Camino intends to be a consolidator when the time comes, adding more of the critical scale it covets. Patrick Leach 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). Seth Urruty Camino Natural Resources LLC Chief Operating Officer. 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. You have multiple zones. The Woodford is thick in northwest Canadian County where the Cana Field resides. 2017. 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. 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. . We were certainly giving up upside but reducing our downside.. 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. There is a trend with some primo rock. From 1986 to 1988, he was a financial analyst in the Mergers & Acquisition Department of Morgan Stanley & Company. Independent oil and natural gas acquisition and development company. Usamos como recurso la cancin "Aprieta el botn" del grupo musical boliviano Animal de ciudad. Stay in touch with the latest activities by subscribing to our daily email covering operators, service companies, (acreage, production rates, well info, development plans, resverse, and completions designs), NGP Consolidates Portfolio Companies in Camino Natural Resources, Snapshot: Camino Cores Up Anadarko Portfolio, Ups Production; 2020 Rig Activity, Profile : Camino Natural Resources: Assets, Maps,Development Plans 2018, Camino Taps Cardinal Midstream for STACK/SCOOP Takeaway Dedication, Cardinal Building New Iron Horse Gas Gathering/Processing Facility, Future and current Drilling Plans in , as of 03-01-2023, Intent To Drill/Drilling Permits for , as of 03-01-2023, Latest News on the US, Canada and International plays, Tracking Activity on more than 4,000 companies (E&P, Midstream & Oilfield Services), Active Rigs By Company and County (Updated Weekly), 2015 & 2014 Company Detailed Drilling Budgets, Company & Play Break-Even, Type Curves and Well Economics. Camino Paving Inc is a company that operates in the Oil & Energy industry. Rextag database of energy infrastructure assets. Address 1401 17th St Ste 1000 Denver Co 80202-1247. I expect we will be bigger, and thats the goal. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. When the original SCOOP area started around 2012, it was right atop of the very thick Woodford. We were already decelerating before the big move, Polzin said. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. CO . from 8 AM - 9 PM ET. There is no question about that.. 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. 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. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Touted early on as Permian Jr., the play was deemed an expensive underachiever by pundits. Oct 25, 2013. vantageenergy.com . Vinson & Elkins LLP and Alston & Bird LLP are serving as legal advisors to Double Eagle. Camino is headquartered in Denver, Colorado. 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.. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. 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? We think this is going to be a rough environment through 2021. The first well the company drilled 100% as Camino was the ABEL 25-36-1XHan early lower Mississippian/Sycamore target in Grady County. Were applying that here, too. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. All rights reserved. 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. +2.24 +6.89%. 1401 17th Street, Suite 900 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. It will probably run about flat this year, but were really not aiming to be flat. Im a strong believer in what you learn in one shale play is 100% applicable to other shale plays. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. 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. the state. I hope were out of it in 2022, but its a minimum of 18 months.. Unauthorized distribution, transmission or republication strictly prohibited. Now, the new world order is like the old world order on steroids. 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. See that one company trying to become a large private company in space... That by having the large equity support from NGP and development company year-end... 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