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. Double Eagle built a truly world-class business through strong execution and unmatched creativity. 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. SEARCH BY. Actividades. SCOOP and Merge plays of Central Oklahoma. Pioneer plans to finance the cash portion of the purchase price through a combination of cash on-hand and existing borrowing capacity under its revolving credit facility. 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. 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. It just is what it is. 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 They are an independent oil and natural gas company operating in the core of the SCOOP and Merge plays of Central Oklahoma. (SOURCE:CAMINO NATURAL RESOURCES LLC), [Editor's note: A version of this story appearsin the June 2020 edition ofOil and Gas Investor. The firm is based in Evanston, Illinois and has offices in London and Houston. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and will contain detailed information about the company and management, as well as financial statements. 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. 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.. Access to in-depth interviews with industry insiders. Im a strong believer in what you learn in one shale play is 100% applicable to other shale plays. For more information about Apollo, please visit www.apollo.com. Pioneer will issue approximately 27.2 million shares of common stock in the transaction with an additional $1 billion of cash. +2.24 +6.89%. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. This press release is not an offer of securities for sale in the United States. 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. Its lower prices for a longer time frame, and deeper cuts [are] required. Headquarters. 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. There is a trend with some primo rock. 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. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. Mr. Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural Resources. China Natural Resources, Inc. Feb 28, 2023, 08:30 ET. HONG KONG, Feb. 28, 2023 /PRNewswire/ -- China Natural Resources Inc. (NASDAQ: CHNR) (the "Company" or "CHNR") announced today that the Company has entered into a definitive agreement (the "Sale and Purchase Agreement") with Feishang Group Limited and Top Pacific (China) Limited (together, the "Sellers"), and Mr. Li Feilie and Mr. Yao Yuguang, to acquire Williams Minerals (Pvt) Ltd ("Williams Minerals"), which owns the mining permit for a Zimbabwean lithium mine (the "Acquisition"). Consolidation in our industry has never been more essential than it is today, making this a particularly timely and important next phase of growth for Bison's water midstream business. There is no 500-foot spacing; its 1,200-plus foot spacing. 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. coming Buy some other companies, maybe, but the goal is to be bigger because it is just a better economic, stable position for everybody involved. Its serendipitous now with where the market is, but that was how we started.. New Mexico Wells Drilled by Operator in 2021. 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.". Camino is pursuing its growth strategy by applying strong . The company is headquartered in Mountain View, California. Join MineralAnswers.com for Production Access. It employs 21-50 people and has $10M-$25M of revenue. There Listed by HONGHUA SHANG DRE #01833183 GREAT WALL REALTY, INC. 1401 17th St Ste 1000 Pioneer Natural Resources Company (NYSE:PXD) is considering an acquisition of Range Resources Corporation (NYSE:RRC), according to people familiar with the the matter. Can you talk about how outsourcing your owner support helps your internal team align with the company's strategy of being efficient? DoublePoint is a Fort Worth, Texas based upstream oil and gas company, led by the Double Eagle management team in partnership with FourPoint Energy. 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 . Provided by EnergyNet. 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. The same year, a Marcellus producer, Vantage Energy Inc., was purchased by Rice Energy Inc. for $2.7 billion. 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. 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. There is no question about that.. 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. 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. Equally important to all of that is financial [structure]. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. You gain pressure to the west, but you lose oil. from 8 AM - 9 PM ET. 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. 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. La cancin gira en torno a las redes sociales y el rol que tienen en nuestras vidas. 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 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, a water midstream company in the SCOOP anchored by a +15-year gathering agreement with Casillas Petroleum Resource Partners. Camino was founded by Ward Polzin, a veteran energy executive and founding CEO of Centennial Resource Development. A searchable database of oil and gas debt and equity offerings. Vinson & Elkins LLP and Alston & Bird LLP are serving as legal advisors to Double Eagle. Denver, Colorado. In addition, fracture-driven well interaction issues arose once operators pushed aggressive well spacings during development. 2023 Shale Experts, All rights reserved. Feishang Group Limited (CHNR's controlling shareholder) owns 70% of Williams Minerals and Top Pacific (China) Limited, a non-affiliate, owns the remaining 30%. You lose pressure when you move to the east. [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. CO . Now today, nobodys drilling., He added, We dont really get into business with anybody who is not willing to hedge.. There is no guarantee that the Acquisition will close or be completed at the anticipated valuation and terms, or at all. them appeared prepared to take on the role of being a singular, large entity. 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. By February 2020, the company was operating a single rig. 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. These teams spun out around the same time to figure out what was next career-wise. Operators were pushing the boundaries of the core, while the issue of parent/child well interference began to rear its ugly head. 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. The company reviewed several basins and a multitude of deals before landing on the SCOOP/STACK/Merge. The bigger you are, historically its either a go public or a smaller buyer universe,Camino CFO Ryley Hegarty said. 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. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. 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. Denver, Colorado, United States. Following this acquisition, Bison is the only remaining independent and large-scale water infrastructure provider in the SCOOP and Merge. The underlying Woodford Shale in western Oklahoma is shallow in the east and deep in the west. 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). In late 2019, Camino was running three rigs on its western Oklahoma acreage. that Camino Natural Resources, Llc can drill in the future. Placing the hedges early locked in a per barrel crude price in the mid-$50 range. Total 4 lots, 564, 582, 604 Camino De Teodoro Walnut, CA 91789 APN: 8722-019-025, 8722-019-028, 8722-019-029, 8722-019-033. Open. You had this land rush to grab lots of acreage across the basin, but it is not all created equal. 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. Camino Natural Resources, Llc DoublePoint is backed by equity commitments from funds managed by affiliates of Apollo Global Management, Inc., Quantum Energy Partners, Magnetar Capital, and Blackstone Credit. As a result, we have steadily added long-term large-scale commercial contracts throughout the year with both new and existing customers. The per barrel cost to develop in the region swelled to the upper-$40 range by some estimates. October 22,2019 : Camino Natural Resources LLC completed the CORA MAE 0506 10-15-1MH well in Grady,OK . . Ward Polzin was in Dallas when an email ticked into his inbox the morning of January 17, 2013. Year of Investment. . 7 min read. October 22,2019 : Camino Natural Resources LLC completed the ASH 0807 36-1-1WH well in Grady,OK . 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. The child wells are right in line on average with our type curve expectations, Urruty said. 2023 Hart Energy. This press release contains forward-looking statements based on Double Eagles current expectations that involve a number of risks and uncertainties. The transaction was unanimously approved by the Board of Directors of each company and is expected to close in the second quarter of 2021, subject to customary closing conditions and regulatory approvals. For the same reasons [that] the publics want to get bigger, we believe that privates need to get bigger, Polzin said. of performance.. 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. [We found] the sweet spot runs southeast to northwest in our basin. 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. Camino Natural Resources LL is an independent oil and natural gas company operating in the core of the Scoop and Merge plays of Central Oklahoma. At the same time, there is a significant supply shortage, which puts an even greater value on asset owners and mines. 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.". Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Based upon that IP30 rate, it is still one of the top three wells ever drilled in the SCOOP, Polzin said. Enverus: Camino Natural Resources is a privately held operating company that focuses on running lean operations for maximum efficiency. 1 min read. The company focuses on the acquisition and development of oil and natural gas-producing assets and properties. 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). 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 . We merged the teams together in late 2016.. Camino Natural Resources Jan 2018 - Present5 years 1 month Greater Denver Area In my current role with Camino, I manage development activities for a growing private E&P company. I think the capital markets narrative that the Midcontinent will never recover is a false narrativeits fake news, Hayes said. Forward-looking statements in this press release include, but are not limited to, statements regarding the proposed offering and the intended use of proceeds. Through those acquisitions, 89 and Rebellion each had a rig running, so we stepped into some activity, said Camino COO Seth Urruty. Camino is headquartered in Denver, Colorado. We were certainly giving up upside but reducing our downside.. Polzin is the only remaining independent and large-scale water infrastructure provider in west! Began to rear its ugly head Camino is pursuing its growth strategy by applying strong take on the acquisition close... 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