During 2018 and 2019, the company locked in pricing for its 2020 and 2021 production. The same year, a Marcellus producer, Vantage Energy Inc., was purchased by Rice Energy Inc. for $2.7 billion. We certainly werent anticipating this tough of one, but thank goodness we were already making moves to do better in a tougher market. Camino hopes it can bring a rig back if prices inch up, but for now all drilling activity has paused. Intrigued, Polzin agreed, but he needed afew months to tie up his affairs with the investment bank. Camino Natural Resources is based in Denver, Colorado. Database of selected U.S. and international exploration wells. Based upon that IP30 rate, it is still one of the top three wells ever drilled in the SCOOP, Polzin said. It just is what it is. Camino has drilled about 10 wells to date that offset either another operators well across the lease line or one of its own. Shale Experts is a Members ONLY resource. Forward-looking statements in this press release include, but are not limited to, statements regarding the proposed offering and the intended use of proceeds. Win whats next. 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 . 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. Subscribe for free to our newsletters for the latest energy news. 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. Youve got to find that right mix of high pressure, and therefore productivity, and the right blend of oil, gas and NGL.. Jan 2017 - Feb 2023). Oil and Gas Acquisition and Development. Following this acquisition, Bison is the only remaining independent and large-scale water infrastructure provider in the SCOOP and Merge. Today, Camino holds about 118,000 net acres in the STACK/SCOOP/Merge and is producing about 40,000 boe/d. 7 min read. currently ranked #6 in the state of Oklahoma based on a total production PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Its oil production is 100% hedged for 2021. 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. Range was the very first . 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. Mr. Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural Resources. 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. 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. 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. 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. October 22,2019 : Camino Natural Resources LLC completed the ASH 0807 36-1-1WH well in Grady,OK . Open. 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 . A searchable database of oil and gas debt and equity offerings. NGP expects to complete the mergers by late June, one of the people said. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. 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. Weve done that by having the large equity support from NGP. FORT WORTH, Texas--(BUSINESS WIRE)--Double Eagle III Midco 2 LLC (the Company or Double Eagle), wholly owned by DoublePoint Energy, LLC (DoublePoint), announced that it has entered into a definitive purchase agreement to sell all leasehold interests, subsidiaries and related assets to Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer"). Camino purchased the SCOOP and Hoxbar oil trend assets of Ward Energy Partners LLC, a subsidiary of Ward Petroleum Corp. Around the same time, NGP-backed companies Rebellion Energy LLC and 89 Energy Holdings LLC contributed assets in the SCOOP and Merge for Camino equity. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. 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. Prices for top E&P stocks and commodities. 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 industry has emerged from the days of the three-year flip to those of a lower-for-longer and living within cash flow approach. So we said lets try it again. Its lower prices for a longer time frame, and deeper cuts [are] required. Camino is headquartered in Denver, Colorado. Corporate Development Investor Relations Camino was founded by Ward Polzin, a veteran energy executive and founding CEO of Centennial Resource Development. Camino is headquartered in Denver, Colorado. 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. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Apollo had assets under management of approximately $455 billion as of December 31, 2020 in its various affiliated private equity, credit, and real estate funds. Denver, Colorado, United States. All rights reserved. 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. China Natural Resources, Inc. Feb 28, 2023, 08:30 ET. 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. 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. (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 . 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 company made its first acquisition in the middle of 2017. Prices for top E&P stocks and commodities. 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. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. 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. Nov 30, 2020, 17:06 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 firms portfolio. The capital markets felt like they got burned and threw the baby out with the bath water.. There is no 500-foot spacing; its 1,200-plus foot spacing. coming Camino Paving Inc is a company that operates in the Oil & Energy industry. There With over 100,000 net acres in the SCOOP and Merge plays of Central Oklahoma. Formed in 2017, Camino Natural Resources has quickly grown to 38,000 BOE/d in SCOOP and Merge with three rigs at work. 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. Operators in New Mexico. GIS Manager. (SOURCE: CAMINO NATURAL RESOURCES LLC) . The rumor mill kicked into overdrive on Friday when Bloomberg published an article saying Pioneer Natural Resources Co., one the largest independent oil producers in the U.S., is considering (negotiating for) an acquisition of Marcellus driller Range Resources Corp., according to "people familiar with the matter.". Its an output, not an input. 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. of 18,153,600 barrel of oil equivalent Independent oil and natural gas acquisition and development company. 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. 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. 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. 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. Scoops about Camino Paving . Operator of an independent oil and natural gas company operating in the Central Oklahoma region. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement. We thought it had a lot of running room, and we wanted to go big again. 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. Headquarters. HONG KONG, Feb. 28, 2023 /PRNewswire/ -- China Natural Resources Inc . Information on assets, buyers and sellers, deal values, and more. By the end of January 2018, Camino closed its fourth acquisitionthe purchase of Chesapeake Energy Corp.s Merge position. Enverus: Camino Natural Resources is a privately held operating company that focuses on running lean operations for maximum efficiency. The Company may issue restricted CHNR shares at a discount to the market price to secure a portion of the required capital. It employs 21-50 people and has $10M-$25M of revenue. 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. Camino Natural Resources. Well was 18 MMcf/d of Natural gas company operating in the SCOOP and Merge plays of Central Oklahoma ;.! Is 100 % hedged for 2021 IP30 rate, it is still of. Actual results to differ materially from those expressed in any forward-looking statement the baby out with the bath water lower... 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