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. For the same reasons [that] the publics want to get bigger, we believe that privates need to get bigger, Polzin said. from 8 AM - 9 PM ET. NGP expects to complete the mergers by late June, one of the people said. Information on assets, buyers and sellers, deal values, and more. Database of selected U.S. and international exploration wells. We didnt see that one company trying to become a large private company in that space. It was that common DNA across Vantage and Centennial. Nov 30, 2020, 17:06 ET. Mr. Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural Resources. Aprieta el botn (profesores) Esta actividad est diseada para la fase 4. Well step into it more conservatively on an absolute spacing basis, he said. Pioneer Natural Resources Co., one the largest independent US oil producers, is considering an acquisition of Appalachian natural gas producer Range Resources Corp . USD. I expect we will be bigger, and thats the goal. 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. 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. . Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), DUG Midcontinent 2022: Expanding The SCOOP's Southern Sweet Spot, DUG Midcontinent: Operator Spotlight; From Zero to 100k, Camino Natural Resources Profile: Midcontinent Mover, Executive Q&A: Camino Natural Resources Growth Strategy, DUG Midcontinent: Operator Spotlight: From Zero to 38,000 BOE/d, DUG Midcontinent Day 2: Oklahoma Operators Discuss Challenges, Innovation, Best Of This Weeks Drilling Activity Highlights (Sept. 27, 2019). With backing from private equity firm Natural Gas Partners, Camino is pursuing a growth strategy, according to the company website. Even though there were three dozen private-equity-backed companies in the SCOOP/STACK/Merge, none of The company has been operating in the Stack Scoop holding approximately . We hope to do some deals., Hayes added, They are very well hedged. Intrigued, Polzin agreed, but he needed afew months to tie up his affairs with the investment bank. 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. DoublePoint is a Fort Worth, Texas based upstream oil and gas company, led by the Double Eagle management team in partnership with FourPoint Energy. Camino Natural Resources, Llc and 27,715 MCF of gas, 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 . In late 2019, Camino was running three rigs on its western Oklahoma acreage. Camino is headquartered in Denver, Colorado. Forward-looking statements in this press release include, but are not limited to, statements regarding the proposed offering and the intended use of proceeds. 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 . Scoops about Camino Paving . We were already decelerating before the big move, Polzin said. The Youth Coordinated System (YCES) makes it easier for youth ages 16-24 to access housing resources and supportive services, including education support, employment assistance, and mental health services. Rock-wise, [the SCOOP/STACK/Merge] had a lot of productivity, Polzin, now CEO of Camino, explained. 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. New Listings in 91730. 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. 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. At Vantage, that was a 10-year run for those guys. Information on assets, buyers and sellers, deal values, and more. 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. We were anticipating a tough market. [We found] the sweet spot runs southeast to northwest in our basin. Most drilling has been done with one year to three years between completions, and the company has encountered infillor childwell degradation. them appeared prepared to take on the role of being a singular, large entity. He joined NGP in 2022. 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 . By February 2020, the company was operating a single rig. A searchable database of oil and gas debt and equity offerings. Through those acquisitions, 89 and Rebellion each had a rig running, so we stepped into some activity, said Camino COO Seth Urruty. Now, the new world order is like the old world order on steroids. Founded in 2005, Magnetar is a leading alternative asset manager with approximately $12.9 billion in assets under management as of January 2021. For Sale: 0 Camino Predera, Rancho Cucamonga, CA 91730 $367,000 MLS# CV22067912 This Address is Lot 14 Per Title. You had this land rush to grab lots of acreage across the basin, but it is not all created equal. 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. Vantage Energy - Natural gas exploration and development - CBM - North America Seth Urruty , Fort Worth & Uinta Asset Mgr. 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. 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. Phil is a board member of Anew, Form Energy, . 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. Following this acquisition, Bison is the only remaining independent and large-scale water infrastructure provider in the SCOOP and Merge. Hayes had a proposition: He wanted Polzin to run an MLP the firm would set up in Denver. Sometimes a portion will also be pushed into the following year. 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. Natural Resources; Energy Transition; Media; . To last longer, you need to be financially conservative, frankly, and create optionality. 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. You have to be thoughtful, and on a DSU [drilling spacing unit] by DSU basis, come up with a plan to develop those reservoirs together. (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 . Camino knew the area was complex. Today, Camino holds about 118,000 net acres in the STACK/SCOOP/Merge and is producing about 40,000 boe/d. hartenergyconferences.com . 1 min read. Cision Distribution 888-776-0942 All rights reserved. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. In the interim, an NGP-backed producer in the Delaware Basin needed management willing to take the company public. 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.. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. Touted early on as Permian Jr., the play was deemed an expensive underachiever by pundits. Ward Polzin was in Dallas when an email ticked into his inbox the morning of January 17, 2013. In contrast, Camino has hedged a lot. that Camino Natural Resources, Llc can drill in the future. The company focuses on the acquisition and development of oil and natural gas-producing assets and properties. This press release includes forward-looking statements within the meaning of the U.S. federal securities laws. 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. 9581 Retreat Pl; 9318 Hellman . Camino was founded by Ward Polzin, a veteran energy executive and founding CEO of Centennial Resource Development. 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, 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. Tue, 03/01/2022 - 11:40 AM. Camino Natural Resources Apr 2019 - Present3 years 4 months Greater Denver Area Reservoir studies, petrophysical models for reservoir characterization, simulation modelling, pvt analysis.. The bigger you are, historically its either a go public or a smaller buyer universe,Camino CFO Ryley Hegarty said. Open. Focus. 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. The company employs different strategies for managing the primary well to help optimize the fracture complexity in the child. 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. Rextag database of energy infrastructure assets. 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. 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. He was there on assignment with Pioneer Natural Resources Co. while working as a managing director for investment bank Tudor, Pickering, Holt & Co. 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. 34.73. 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