Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Denver, Colorado, United States. There were a lot of private-equity-backed companies there, but they were [generally] small. These teams spun out around the same time to figure out what was next career-wise. October 22,2019 : Camino Natural Resources LLC completed the ASH 0807 36-1-1WH well in Grady,OK . To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. It got drilled too tightly, and there were really high expectations. Patrick Leach Enverus: Camino Natural Resources is a privately held operating company that focuses on running lean operations for maximum efficiency. Now, the new world order is like the old world order on steroids. When the original SCOOP area started around 2012, it was right atop of the very thick Woodford. Nivel intermedio (fases 3 y 4) La innovacin cientfica y tcnica. Intrigued, Polzin agreed, but he needed afew months to tie up his affairs with the investment bank. New Listings in 91730. The same year, a Marcellus producer, Vantage Energy Inc., was purchased by Rice Energy Inc. for $2.7 billion. Jan 2017 - Feb 2023). 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. There will always be room for the small, entrepreneurial, focused company, but we think we need to position ourselves to be a larger private. Pushing the STACK northwest and northeast did not yield the same results. We merged the teams together in late 2016.. [We found] the sweet spot runs southeast to northwest in our basin. 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. . 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. 2023 Hart Energy. 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. Centennial was sold to Silver Run later that year. Address 1401 17th St Ste 1000 Denver Co 80202-1247. 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. 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 . 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 You had this land rush to grab lots of acreage across the basin, but it is not all created equal. 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. HONG KONG, Feb. 28, 2023 /PRNewswire/ -- China Natural Resources Inc . 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. 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. are 20 permits filed with the state 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. Forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors. 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. Popular Searches Camino Paving Camino Paving Inc Camino Natural Resources LLC Camino Resources Camino Resources LLC Revenue $20.7 M Employees 37 Founded 1976 Information on assets, buyers and sellers, deal values, and more. 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. The new NGP-backed ventures first order of business was targeting assets for A&D. The last thing were worried about is production growth, Polzin said. In addition to the assignments recorded, over 80 wells, as of now, were transferred from Camino to Troy; 60% classified as gas wells and 40% were classified as . It is somewhere in the middle. For each region of the lithium mine, until the Company's ownership vests, the Sellers will maintain legal possession and control, including the right to exploration, sales of lithium, and the revenue derived therefrom, as well as liability for operational costs and third-party claims. This press release is not an offer of securities for sale in the United States. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. We hope you enjoyed your trial to the website. There is no guarantee that the Acquisition will close or be completed at the anticipated valuation and terms, or at all. When, in any forward-looking statement, the Company, or its management, expresses an expectation or belief as to future results, that expectation or belief is expressed in good faith and is believed to have a reasonable basis, but there can be no assurance that the stated expectation or belief will result or be achieved or accomplished. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. In contrast, Camino has hedged a lot. By having scale we have a large lending capacity with our senior lenders. 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. Apollo is a leading global alternative investment manager with offices in New York, San Diego, London, Houston, Bethesda, Los Angeles, Frankfurt, Luxembourg, Madrid, Singapore, Hong Kong, Tokyo, Shanghai, Delhi, and Mumbai. More Real Estate Resources. Mailing Address Camino Natural Resources, LLC Attn: Division Order Department 1401 . We didnt see that one company trying to become a large private company in that space. 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. Placing the hedges early locked in a per barrel crude price in the mid-$50 range. Equally important to all of that is financial [structure]. Stay in touch with our Daily Email Newsletter. Headquarters Address 1401 17th Street, Suite 900 Denver, CO 80202 United States Website 1401 17th Street, Suite 900 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. Editor's note: Updated Sept. 3, 2019. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. For more information on Quantum, please visit www.quantumep.com. Buy some other companies, maybe, but the goal is to be bigger because it is just a better economic, stable position for everybody involved. 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. Except as required by law, the Company undertakes no obligation to update any forward-looking statements. Today, they are at zero. Camino intends to be a consolidator when the time comes, adding more of the critical scale it covets. Certain folks had views that they were independent petroleum systems and you could stack wells, or drill Woodford wells and then come on top and drill lower Mississippian, and not have interference. The email was from an old friend, David Hayes, a partner at the private-equity firm NGP Energy Capital Management LLC. 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. That could be a good place to be if oil goes to $80, but a bad place when it goes to $20. DoublePoint is backed by equity commitments from funds managed by affiliates of Apollo Global Management, Inc., Quantum Energy Partners, Magnetar Capital, and Blackstone Credit. Among the risks and uncertainties that could cause the Company's actual results to differ from its forward-looking statements are: uncertainties regarding the governmental, economic and political circumstances in the PRC; the impact on the Company's financial position, growth potential and business from an investment in the natural resources sector generally and in the Zimbabwean lithium mine specifically; uncertainties related to the Company's ability to identify potential partners or acquisition targets as it considers strategic alternatives; uncertainties related to the Company's ability to settle in cash the consideration due in connection with this Acquisition; uncertainties associated with metal price volatility; uncertainties concerning the viability of mining and estimates of reserves at the Zimbabwean lithium mine; uncertainties associated with the issuance of and accuracy of the independent technical reports; uncertainties related to geopolitical events and conflicts, such as the conflict between Russia and Ukraine; uncertainties regarding the impact of the COVID-19 pandemic on domestic PRC and global economic conditions, demand for the mineral reserves that we may locate or extract, our workforce, whether due to illness or restrictions on movement, and on the price of our common shares; uncertainties related to possible future increases in operating expenses; the fluctuations of interest rates and foreign exchange rates; uncertainties related to the results of the next assessment by the Staff of the Nasdaq Listing Qualifications department of the Company's compliance with the Nasdaq Listing Rules; uncertainties related to the political situation between the PRC and the United States; uncertainties regarding the ability of the Public Company Accounting Oversight Board to continue to fully inspect auditors located in the PRC and Hong Kong, the implementation by the SEC of more stringent disclosure and/or other requirements for companies located in the PRC or that have operations in the PRC that are listed on exchanges in the United States, and increasing regulation by PRC government agencies of companies located in the PRC but listed elsewhere; and other risks detailed from time to time in the Company's filings with the SEC, including, without limitation, the information set forth in the Company's Annual Reports on Form 20-F under the heading "Risk Factors." Information on assets, buyers and sellers, deal values, and more. We expect similar opportunities to emerge in the coming months on both the commercial and consolidation fronts, and we look forward to sharing our progress as those materialize.". The Woodford is also thick in the middle of the basin. Rextag database of energy infrastructure assets. 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. 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. Were applying that here, too. Shale Experts offers the most COMPLETE coverage of the . From 1986 to 1988, he was a financial analyst in the Mergers & Acquisition Department of Morgan Stanley & Company. 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. Buyer Type (PE or Strategic) . 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,. Merge with some other companies, maybe. NGP partner Chris Carter introduced Urruty to Polzin, and the pair hit it off. Our assets. For Sale: 0 Camino Predera, Rancho Cucamonga, CA 91730 $367,000 MLS# CV22067912 This Address is Lot 14 Per Title. Today, Camino holds about 118,000 net acres in the STACK/SCOOP/Merge and is producing about 40,000 boe/d. 582 Camino De Teodoro currently has a single family building on it. He needed afew months to tie up his affairs with the investment bank hong,. Was targeting assets for a & D assets camino natural resources acquisition buyers and sellers deal! 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