It was an opportunity for the Camino team and its investors that wouldnt arise somewhere like the Permian Basin, where many billion-plus dollar private-equity-backed operators reside. I want to be a survivor, and we will be. Phil is a board member of Anew, Form Energy, . Editor's note: Updated Sept. 3, 2019. Placing the hedges early locked in a per barrel crude price in the mid-$50 range. Information on assets, buyers and sellers, deal values, and more. Join MineralAnswers.com for Production Access. Camino Natural Resources is an independent oil and natural gas acquisition and development company with an operational focus in the Mid-continent region. Headquarters. Additional hedges are also being examined as far out as 2023. 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. Instantly unlock over 15 years of A&D transactions and financing data. 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.". that Camino Natural Resources, Llc can drill in the future. Feishang Group Limited (CHNR's controlling shareholder) owns 70% of Williams Minerals and Top Pacific (China) Limited, a non-affiliate, owns the remaining 30%. Survival is on a lot of minds in the oil patch today. Vinson & Elkins LLP and Alston & Bird LLP are serving as legal advisors to Double Eagle. There were a lot of private-equity-backed companies there, but they were [generally] small. You gain pressure to the west, but you lose oil. 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 . Im a strong believer in what you learn in one shale play is 100% applicable to other shale plays. 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 . The probe was an offset to a Ward-operated well that was drilled a year before the acquisition. Denver, Colorado. The email was from an old friend, David Hayes, a partner at the private-equity firm NGP Energy Capital Management LLC. 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 The fit and the synergies are clear, and we look forward to working with Pioneer to continue creating value., Geoffrey Strong, Senior Partner and Co-Head of Infrastructure and Natural Resources of Apollo, commented, The combination of Pioneer and DoublePoint is compelling from both a financial and operational standpoint and a natural fit for DoublePoint. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. For more information on Quantum, please visit www.quantumep.com. Prices for top E&P stocks and commodities. For more information regarding the company, visit our website at www.BisonOK.com or email us at [emailprotected]. This press release contains forward-looking statements based on Double Eagles current expectations that involve a number of risks and uncertainties. Weve tried to focus in those areas as well, whether its STACK, SCOOP or Merge. 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. 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. 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 deals left a pair of veteran leadership teams without a home. Database of selected U.S. and international exploration wells. Cody Campbell and John Sellers, Co-CEOs of DoublePoint said, We are proud and appreciative of the work that our team has done to build a company and an asset base that is unparalleled in quality and truly cannot be replicated. Were applying that here, too. 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. Contact Information Website www.caminoresources.com Ownership Status Privately Held (backing) Financing Status Private Equity-Backed Primary Industry Energy Exploration Primary Office 1401 17th Street Suite 900 Denver, CO 80202 9581 Retreat Pl; 9318 Hellman . Based upon that IP30 rate, it is still one of the top three wells ever drilled in the SCOOP, Polzin said. We merged the teams together in late 2016.. October 22,2019 : Camino Natural Resources LLC completed the CORA MAE 0506 10-15-1MH well in Grady,OK . Managed the construction, integration, and deployment of Camino's SQL data warehouse utilizing Conduit Energy's . Natural Resources; Energy Transition; Media; . It was that common DNA across Vantage and Centennial. The capital markets felt like they got burned and threw the baby out with the bath water.. In contrast, Camino has hedged a lot. Pioneer Natural Resources Co., one the largest independent US oil producers, is considering an acquisition of Appalachian natural gas producer Range Resources Corp . Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. 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.". Previously, . The company is headquartered in Mountain View, California. During 2018 and 2019, the company locked in pricing for its 2020 and 2021 production. Camino Paving Inc is a company that operates in the Oil & Energy industry. In addition, fracture-driven well interaction issues arose once operators pushed aggressive well spacings during development. During the land rush, people paid up for it while there was still a lot of learning going on across the industry. (SOURCE: CAMINO NATURAL RESOURCES LLC) currently ranked #6 in the state of Oklahoma based on a total production More than 2,500 Subscribers rely on our data each day. Address 1401 17th St Ste 1000 Denver Co 80202-1247. Thats been a negative for our play. 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. 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. He joined NGP in 2022. So we said lets try it again. Click here to Upgrade And Get Immediate Access. They are an independent oil and natural gas company operating in the core of the SCOOP and Merge plays of Central Oklahoma. Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. 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. Through YCES, youth who are experiencing homelessness or housing instability can be linked to available resources in Los Angeles County. Rextag database of energy infrastructure assets. Bankruptcies in the space have already begun, and many more are expected. Camino Natural Resources, LLC is located in Denver, CO, United States. This copy is for your personal, non-commercial use only. 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. 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 . 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. Operations . 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. At the same time, there is a significant supply shortage, which puts an even greater value on asset owners and mines. They simply were not capitalized to do so. Pushing the STACK northwest and northeast did not yield the same results. 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. He was there on assignment with Pioneer Natural Resources Co. while working as a managing director for investment bank Tudor, Pickering, Holt & Co. This acquisition continues the trend of consolidation in the prolific Permian Basin, combining two complementary footprints in a transaction with both top- and bottom-line synergies., Dheeraj Verma, President of Quantum Energy Partners added, Quantum feels very fortunate to have had the opportunity to partner with John, Cody, Josh, Blake, Garrett and their team. Polzin was in charge of the newly-renamed Centennial Resource Development Inc. In late 2019, Camino was running three rigs on its western Oklahoma acreage. Stay in touch with our Daily Email Newsletter. By April 2014. This press release includes forward-looking statements within the meaning of the U.S. federal securities laws. 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.". are 20 permits filed with the state Camino Natural Resources Apr 2019 - Present3 years 4 months Greater Denver Area Reservoir studies, petrophysical models for reservoir characterization, simulation modelling, pvt analysis.. Co-Chief Executive Officer and Board Member, Vice President & Chief Accounting Officer, To view Camino Natural Resourcess complete executive team members history, request access, To view Camino Natural Resourcess complete board members history, request access, To view Camino Natural Resourcess complete investments history, request access, Morningstar Institutional Equity Research. 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