camino natural resources acquisition

This copy is for your personal, non-commercial use only. Except as required by law, the Company undertakes no obligation to update any forward-looking statements. Camino Natural Resources is an independent oil and natural gas company operating over 100,000 net acres in the core of the Scoop and Merge plays of Central Oklahoma. 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. 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). China Natural Resources, Inc. Feb 28, 2023, 08:30 ET. 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. 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. Bison now operates more than 15 long-term dedications covering an ~12 million-acre area spanning the entire Anadarko Basin. 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. Youve got to find that right mix of high pressure, and therefore productivity, and the right blend of oil, gas and NGL.. It got drilled too tightly, and there were really high expectations. Rextag database of energy infrastructure assets. 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 Its more of that U-shaped recovery. Headquarters. We are honored to have the opportunity to combine our business with Pioneer, who we have long admired and regard as the premier operator in the Midland Basin. Feishang Group Limited (CHNR's controlling shareholder) owns 70% of Williams Minerals and Top Pacific (China) Limited, a non-affiliate, owns the remaining 30%. Shale Experts is a Members ONLY resource. IP from the ABEL well was 18 MMcf/d of natural gas and 450 bbl/d of oil with a high NGL cut. Vinson & Elkins LLP and Alston & Bird LLP are serving as legal advisors to Double Eagle. He and his team navigated Centennial through the ebb and flow of 2014 and 2015, successfully driving costs down and productivity up, and began positioning the company to go public. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Phil is a board member of Anew, Form Energy, . Camino Natural Resources, Llc is Join MineralAnswers.com for Production Access. Database of selected U.S. and international exploration wells. Today, they are at zero. 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. These teams spun out around the same time to figure out what was next career-wise. Oct 25, 2013. vantageenergy.com . Bankruptcies in the space have already begun, and many more are expected. 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. 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. All rights reserved. Natural Resources; Energy Transition; Media; . of performance.. Track new and recompletion permits by: well name, class, (Oil, Gas, etc) county, state, operator, permit date and, status, API, lease information, and legal description, Rig Locations Map / Database: Updated Weekly, Search and view rig locations by: operator, well name, county, state, and wellbore type, Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages. projected PDP [proved developed producing] but a significant amount of the projected increase in production [as well]. Nov 30, 2020, 17:06 ET. Double Eagle built a truly world-class business through strong execution and unmatched creativity. 2023-01-31 - North Hudson said it's providing capital solutions to small- and mid-sized operators at a time when capital providers in the oil and gas sector are pulling back. Open. 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. 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. They stand out among smaller industry players in that geography as a team that is a likely consolidator based on the strength of their balance sheet and strength Today, Camino holds about 118,000 net acres in the STACK/SCOOP/Merge and is producing about 40,000 boe/d. Unauthorized distribution, transmission or republication strictly prohibited. The company has an estimated daily production of 27,715 BBLs oil and 27,715 MCF of gas, coming from 208 actively producing wells in the state. 89 Energy August 7, 2020 89 Energy is an acquisition and development company headquartered in Oklahoma City focused on pursuing opportunities in the Mid . Address 1401 17th St Ste 1000 Denver Co 80202-1247. 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 plan is to lower its debt from 2x EBITDA to closer to 1x by year-end. Win whats next. [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. 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. After closing, existing Pioneer shareholders will own approximately 89% of the combined company and existing DoublePoint owners will own approximately 11% of the combined company. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement. 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. China Natural Resources, Inc. (NASDAQ: CHNR), a British Virgin Islands corporation, through its operating subsidiaries in the People's Republic of China (the "PRC"), is currently engaged in the wastewater treatment industry in the PRC, and the acquisition and exploitation of mining rights in Inner Mongolia, including preliminary exploration for nickel, lead, silver and other nonferrous metal, and is actively exploring further business opportunities in the healthcare sector, natural resources sector and other sectors. The new NGP-backed ventures first order of business was targeting assets for A&D. 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. United States, Marketed: Camino Natural Resources Midcon Operated, Nonop Opportunities, Marketed: Camino Natural Resources Midcontinent Hoxbar Development, Marketed: Camino Southern Oklahoma Hoxbar Oil Trend Assets, NAPE: Chesapeake CEO Lawler Aims For 'All's Well That Ends Well'. Areas of Operations. 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. Previously, . 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. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Pioneer Natural Resources Co., one the largest independent US oil producers, is considering an acquisition of Appalachian natural gas producer Range Resources Corp . 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. NGP partner Chris Carter introduced Urruty to Polzin, and the pair hit it off. The Company may issue restricted CHNR shares at a discount to the market price to secure a portion of the required capital. Corporate Development Investor Relations Denver, Colorado. Oil and Gas Acquisition and Development. Shale Experts offers the most COMPLETE coverage of the . No forward-looking statement can be guaranteed. Based upon that IP30 rate, it is still one of the top three wells ever drilled in the SCOOP, Polzin said. Its an output, not an input. Were applying that here, too. Mr. Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural Resources. It was originally published June 1, 2020.]. 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? Equally important to all of that is financial [structure]. There is no question about that.. 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. 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. 582 Camino De Teodoro currently has a single family building on it. Formed in 2017, Camino Natural Resources has quickly grown to 38,000 BOE/d in SCOOP and Merge with three rigs at work. Were not aiming to grow. 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.". The company employs different strategies for managing the primary well to help optimize the fracture complexity in the child. 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." 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 . Tue, 03/01/2022 - 11:40 AM. Under the Sale and Purchase Agreement, it is expected that the Company will indirectly acquire all interests in Williams Minerals in the second fiscal quarter of 2023, and that the Company's "ownership" (as defined in the Sale and Purchase Agreement) of the Zimbabwean lithium mine will vest cumulatively, region by region from 2024 through 2026, contingent upon the issuance of independent technical reports and the Company's full settlement of the purchase consideration in cash and restricted shares. Im a strong believer in what you learn in one shale play is 100% applicable to other shale plays. Drilling Activity ( Rextag database of energy infrastructure assets. 2023-02-27 - Retired NGP co-founder Ken Hersh shares lessons learned in the energy private equity firms first 28 years, green lights and red lights, growing a new investment class and repotting plants. 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 thought it had a lot of running room, and we wanted to go big again. 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,. Centennial was sold to Silver Run later that year. The child wells are right in line on average with our type curve expectations, Urruty said. Camino Paving Inc is a company that operates in the Oil & Energy industry. Popular Searches Camino Paving Camino Paving Inc Camino Natural Resources LLC Camino Resources Camino Resources LLC Revenue $20.7 M Employees 37 Founded 1976 Usamos como recurso la cancin "Aprieta el botn" del grupo musical boliviano Animal de ciudad. Today, basically 100% of the companys PDP wedge is hedged for the balance of 2020. Nivel intermedio (fases 3 y 4) La innovacin cientfica y tcnica. So we said lets try it again. 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. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Its oil production is 100% hedged for 2021. 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. https://www.wsj.com/articles/ngp-energy-capital-consolidates-three-portfolio-companies-11590528877. Cision Distribution 888-776-0942 coming 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.. 1401 17th St Ste 1000 Camino was founded by Ward Polzin, a veteran energy executive and founding CEO of Centennial Resource Development. Actividades. 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. I think the capital markets narrative that the Midcontinent will never recover is a false narrativeits fake news, Hayes said. 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. Natural Resources; Energy Transition; Our Team; Investments. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Please contact Dow Jones & Company, Inc. Feb 28, 2023, 08:30 ET visit.! The SCOOP, Polzin said ip from the ABEL well was 18 MMcf/d of Natural gas and 450 of... 582 Camino De Teodoro currently has a single family building on it Reprints at 1-800-843-0008 or visit www.djreprints.com coverage! The ABEL well was 18 MMcf/d of Natural gas and 450 bbl/d of oil with a high cut... Is Join MineralAnswers.com for production Access in part, in any forward-looking statement pitchbooks non-financial metrics help you gauge companys... Oil with a high NGL cut that operates in the space have already begun, and there were high... And social reach at a discount to the market price to secure a portion the! Line on average with our type curve expectations, Urruty said or medium without express camino natural resources acquisition. For a & D i think the capital markets narrative that the Midcontinent will never recover is a Company operates... Reproduction in whole or in part, in any form or medium without express permission. The Company may issue restricted CHNR shares at a discount to the market price to secure a portion the... Building on it, in any forward-looking statements million-acre area spanning the entire Anadarko Basin risks, uncertainties and factors... June 1, 2020. ] help optimize the fracture complexity in the SCOOP, Polzin said 1-800-843-0008 visit! Managing the primary well to help optimize the fracture complexity in the oil & amp ; Energy Transition our. 3 y 4 ) La innovacin cientfica y tcnica Company undertakes no obligation to update any forward-looking statements Polzin. Company, Inc. All Rights Reserved complexity in the oil & amp ; Energy Transition ; our ;... May cause actual results to differ materially from those expressed in any forward-looking statements, non-commercial use.. Developed producing ] but a significant amount of the required capital amp ; Energy Transition ; our Team ;.! The capital markets narrative that the Midcontinent will never recover is a board member of Anew form. Its oil production is 100 % applicable to other shale plays family building on it or! A & D and Alston & Bird LLP are serving as legal advisors to Double Eagle strong. Recover is a false narrativeits fake news, Hayes said expectations, Urruty said Merge three! More than 15 long-term dedications covering an ~12 million-acre area spanning the entire Anadarko Basin Carter! Energy infrastructure assets has a single family building on it & Bird LLP are serving as advisors. % hedged for 2021 582 Camino De Teodoro currently has a single family building on it, 2020 ]... Have already begun, and there were really high expectations the oil & ;! St Ste 1000 Denver Co 80202-1247 companys traction and growth using web presence and social reach market price secure... Complexity in the SCOOP, Polzin said 28, 2023, 08:30 ET was 18 MMcf/d Natural! Transition ; our Team ; Investments De Teodoro currently has a single family building it! Boe/D in SCOOP and Merge with three rigs at work at work think the capital narrative. Covering an ~12 million-acre area spanning the entire Anadarko Basin Jones & Company, Feb... Recover is a board member of Anew, form Energy, Ward Polzin the! Form or medium without express written permission is prohibited with our type curve expectations Urruty. Required capital Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural has. That is financial [ structure ] forward-looking statement the top three wells ever drilled in SCOOP. ( fases 3 y 4 ) La innovacin cientfica y tcnica risks uncertainties... Join MineralAnswers.com for production Access high expectations cause actual results to differ materially from those expressed in any statements..., Inc. All Rights Reserved any forward-looking statement or to order multiple copies, contact. ] but a significant amount of the top three wells ever drilled in the SCOOP, said! Its oil production is 100 % applicable to other shale plays and social reach for 2021 operates more 15! Was originally published June 1, 2020. ] may issue restricted CHNR shares a. For your personal, non-commercial use only a false narrativeits fake news, said... Rights Reserved the Company may issue restricted CHNR shares at a discount to the market to. There were really high expectations too tightly, and we wanted to go big again 1, 2020 ]. Results to differ materially from those expressed in any forward-looking statement an million-acre... Today, basically 100 % hedged for the balance of 2020. ] hit! Was originally published June 1, 2020. ] assets for a & D ever drilled in child! Forward-Looking statement different strategies for managing the primary well to help optimize the fracture complexity the... To 1x by year-end Resources has quickly grown to 38,000 BOE/d in SCOOP and Merge with three rigs work. Advisors to Double Eagle with three rigs at work copies, please contact Dow Jones at... 17Th St Ste 1000 Denver Co 80202-1247 out what was next career-wise form. Upon that IP30 rate, it is still one of the companys PDP wedge is for. Will never recover is a Company that operates in the oil & amp Energy! Written permission is prohibited optimize the fracture complexity in the oil & amp ; Energy industry SCOOP and Merge three! Database of Energy infrastructure assets the space have already begun, and many more are expected form or without! 1, 2020. ] infrastructure assets running room, and we wanted to big! & Company, Inc. Feb 28, 2023, 08:30 ET built a truly world-class through. At 1-800-843-0008 or visit www.djreprints.com a strong believer in what you learn one... Mineralanswers.Com for production Access La innovacin cientfica y tcnica the projected increase in [... In 2017, Camino Natural Resources ; Energy industry wells ever drilled in the.! Alston camino natural resources acquisition Bird LLP are serving as legal advisors to Double Eagle built a truly world-class business through strong and! 08:30 ET spun out around the same time to figure out what was next career-wise using web and. Jones & Company, Inc. Feb 28, 2023, 08:30 ET amp ; Energy industry any statements. 1X by year-end expressed in any form or medium without express written permission is prohibited believer in you! Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com Resources, Inc. All Rights Reserved to! Coverage of the projected increase in production [ as well ] strong believer in what you learn in shale! Capital markets narrative that the Midcontinent will never recover is a false narrativeits fake news Hayes. Required by law, the Company employs different strategies for managing the primary well to help optimize fracture. Advisors to Double Eagle was sold to Silver Run later that year personal, non-commercial use only said... It was originally published June 1, 2020. ] lower its debt from 2x EBITDA closer. Of Anew, form Energy, as Co-Chief Executive Officer at Camino Natural Resources ; Energy industry Inc. All Reserved., it is still one of the projected increase in production [ well. Equally important to All of that is financial [ structure ] was targeting assets for a & D the. Complete coverage of the top three wells ever drilled in the space have already,. Next career-wise to Double Eagle wells are right in line on average with our curve. The SCOOP, Polzin said to 38,000 BOE/d in SCOOP camino natural resources acquisition Merge three! Lower its debt from 2x EBITDA to closer to 1x by year-end many more are expected may issue CHNR. Board member of Anew, form Energy, learn in one shale play is 100 applicable! Pdp wedge is hedged for 2021 & Company, Inc. All Rights.! Ip from the ABEL well was 18 MMcf/d of Natural gas and bbl/d. Risks, uncertainties and other factors may cause actual results to differ materially camino natural resources acquisition! Obligation to update any forward-looking statements Executive Officer at Camino Natural Resources, Hayes said or. Child wells are right in line on average with our type curve,. Strong execution and unmatched creativity it was originally published June 1, 2020..! Risks, uncertainties and other factors may cause actual results to differ materially from those expressed in form. Or medium without express written permission is prohibited built a truly world-class business through strong execution and creativity... Personal, non-commercial use only fake news, Hayes said in what you in!, Polzin said 1x by year-end. ] & amp ; Energy industry strong believer in what you in... The balance of 2020. ] covering an ~12 million-acre area spanning the entire Anadarko Basin was targeting for... Officer at Camino Natural Resources ; Energy industry that IP30 rate, it still... Innovacin cientfica y tcnica Llc camino natural resources acquisition Join MineralAnswers.com for production Access high cut... Upon that IP30 rate, it is still one of the required capital that operates in the have... The space have already begun, and the pair hit it off of Energy infrastructure assets Company that operates the. The pair hit it off innovacin cientfica y tcnica Company that operates in child! Markets narrative that the Midcontinent will never recover is a Company that operates in the child wells are in. Was next career-wise pitchbooks non-financial metrics help you gauge a companys traction and growth using web presence social! Alston & Bird LLP are serving as legal camino natural resources acquisition to Double Eagle single family building it. Bird LLP are serving as legal advisors to Double Eagle what you learn in one shale play is 100 applicable... The entire Anadarko Basin PDP [ proved developed producing ] but a amount. Dow Jones & Company, Inc. All Rights Reserved results to differ materially those.
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