Camino has drilled about 10 wells to date that offset either another operators well across the lease line or one of its own. The oil markets are flooded with product, and the COVID-19 pandemic has smothered demand. 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. (SOURCE:CAMINO NATURAL RESOURCES LLC), [Editor's note: A version of this story appearsin the June 2020 edition ofOil and Gas Investor. Camino was founded by Ward Polzin, a veteran energy executive and founding CEO of Centennial Resource Development. DoublePoint is backed by equity commitments from funds managed by affiliates of Apollo Global Management, Inc., Quantum Energy Partners, Magnetar Capital, and Blackstone Credit. 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 . Camino Natural Resources. Camino hopes it can bring a rig back if prices inch up, but for now all drilling activity has paused. Unauthorized distribution, transmission or republication strictly prohibited. Survival is on a lot of minds in the oil patch today. It still has those same characteristics, he said. They are an independent oil and natural gas company operating in the core of the SCOOP and Merge plays of Central Oklahoma. Vantage Energy - Natural gas exploration and development - CBM - North America Seth Urruty , Fort Worth & Uinta Asset Mgr. Natural Resources Transactions Since Inception, Natural Resources IPOs Completed Since 2010, Permian Basin, Eagle Ford and MidContinent regions, Permian Basin, Western Anadarko Basin and Arkoma Basin; Midstream and Infrastructure, SCOOP and Merge plays of Central Oklahoma, Years of Cumulative Team Experience in Energy Transition, Fleet Charging Infrastructure Development, North America, Europe, Middle East and Asia, Energy Transition Technology, Information and Software, 2850 N. 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We were certainly giving up upside but reducing our downside.. The same year, a Marcellus producer, Vantage Energy Inc., was purchased by Rice Energy Inc. for $2.7 billion. Year of Investment. It was that common DNA across Vantage and Centennial. Natural Resources; Energy Transition; Our Team; Investments. Continental [Resources Inc.s] Springboard [SCOOP] is right in the middle of that, the Lone Rock area for Cimarex [Energy Co.], the Cana Fieldall of those go right down the spine of the basin. 2023 Shale Experts, All rights reserved. . from 8 AM - 9 PM ET. The other 3 lots are adjacent to each other and relocated behind it. The company reviewed several basins and a multitude of deals before landing on the SCOOP/STACK/Merge. To get full access now. Our basin gets gassier to the west and oilier to the east, but quite frankly, weve found when you are looking for returns, it is not the oilier eastern part that has the highest returns, Polzin said. It was originally published June 1, 2020.]. As a result, we have steadily added long-term large-scale commercial contracts throughout the year with both new and existing customers. Denver, CO 80202 are 20 permits filed with the state Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. I want to be a survivor, and we will be. Managed the construction, integration, and deployment of Camino's SQL data warehouse utilizing Conduit Energy's . Most drilling has been done with one year to three years between completions, and the company has encountered infillor childwell degradation. Lightly levered. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 1401 17th St Ste 1000 Headquarters. 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. J.P. Morgan Securities LLC is serving as lead financial advisor to Double Eagle and sponsors, with Citi and RBC Capital Markets also acting as financial advisors. Jan 26 2023. 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. 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 is based in Denver, Colorado. This copy is for your personal, non-commercial use only. There is no question about that.. GIS Manager. 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. SCOOP and Merge plays of Central Oklahoma. 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. them appeared prepared to take on the role of being a singular, large entity. Click here to Upgrade And Get Immediate Access. Whereas with most of our companies, we have not only hedged their Founded in 2005, Magnetar is a leading alternative asset manager with approximately $12.9 billion in assets under management as of January 2021. Merge with some other companies, maybe. That could be a good place to be if oil goes to $80, but a bad place when it goes to $20. The capital markets felt like they got burned and threw the baby out with the bath water.. By February 2020, the company was operating a single rig. 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'. Phil is a board member of Anew, Form Energy, . In the interim, an NGP-backed producer in the Delaware Basin needed management willing to take the company public. Track A&D/M&A transactions by: buyer, seller, deal value, production, reserves, acreage, price per BOE, Access select maps from operator presentations for acreage, acquisitions, trends, and more, Track the latest well results and performance from operators in the Permian-basin, Track spending quarter by quarter as operators adjust spending throughout the year, Property Listings (Assets for sale by Operator, State, County, Region, Type), Still not sure? Usamos como recurso la cancin "Aprieta el botn" del grupo musical boliviano Animal de ciudad. 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. Camino intends to be a consolidator when the time comes, adding more of the critical scale it covets. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. With Centennial, the whole plan was to go public. During 2018 and 2019, the company locked in pricing for its 2020 and 2021 production. The email was from an old friend, David Hayes, a partner at the private-equity firm NGP Energy Capital Management LLC. Access to in-depth interviews with industry insiders. One area where Camino has proved ahead of the game has been with its robust hedging strategy. Even as it reviewed deals, it studied what made each play tickthe natural drivers. Ward Polzin was in Dallas when an email ticked into his inbox the morning of January 17, 2013. 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. 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. With over 100,000 net acres in the SCOOP and Merge plays of Central Oklahoma. 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. 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. Most public companies hedge portions of their production for the span of the current calendar year if they hedge at all. 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 . All rights reserved. of 18,153,600 barrel of oil equivalent When the play overheated in 2017, operators pulled away from the core, trying to findproductive extensions to widen the footprint. Except as required by law, the Company undertakes no obligation to update any forward-looking statements. New Listings in 91730. Natural Resources; Energy Transition; Media; . 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. 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. The Woodford is thick in northwest Canadian County where the Cana Field resides. The bigger you are, historically its either a go public or a smaller buyer universe,Camino CFO Ryley Hegarty said. 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." New Mexico Wells Drilled by Operator in 2021. coming 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. 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. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Sometimes a portion will also be pushed into the following year. 1401 17th Street, Suite 900 There will always be room for the small, entrepreneurial, focused company, but we think we need to position ourselves to be a larger private. 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. 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. (BOE) reported during the month Mr. Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural Resources. The first well the company drilled 100% as Camino was the ABEL 25-36-1XHan early lower Mississippian/Sycamore target in Grady County. (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 . I hope were out of it in 2022, but its a minimum of 18 months.. Polzin was in charge of the newly-renamed Centennial Resource Development Inc. October 22,2019 : Camino Natural Resources LLC completed the ASH 0807 36-1-1WH well in Grady,OK . Enverus: Camino Natural Resources is a privately held operating company that focuses on running lean operations for maximum efficiency. For investor relations, please contact Michael Dalton at (713) 452-2000. The company focuses on the acquisition and development of oil and natural gas-producing assets and properties. Open. Oil and Gas Acquisition and Development. 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. You gain pressure to the west, but you lose oil. Vinson & Elkins LLP and Alston & Bird LLP are serving as legal advisors to Double Eagle. These teams spun out around the same time to figure out what was next career-wise. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Pushing the STACK northwest and northeast did not yield the same results. Rextag database of energy infrastructure assets. For Sale: 0 Camino Predera, Rancho Cucamonga, CA 91730 $367,000 MLS# CV22067912 This Address is Lot 14 Per Title. No forward-looking statement can be guaranteed. 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 . Areas of Operations. 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. 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. By the end of January 2018, Camino closed its fourth acquisitionthe purchase of Chesapeake Energy Corp.s Merge position. 80202-1247. Tue, 03/01/2022 - 11:40 AM. Rock-wise, [the SCOOP/STACK/Merge] had a lot of productivity, Polzin, now CEO of Camino, explained. Double Eagle built a truly world-class business through strong execution and unmatched creativity. Land / Acreage . 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 Natural Resources, Llc is currently ranked #6 in the state of Oklahoma based on a total production of 18,153,600 barrel of oil equivalent (BOE) reported during the month of N/A. 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. Faced with challenges with commodity prices and geology in the Western Anadarko Basin, FourPoint Energys Jacob Shumway told DUG, A Three Forks producer by WPX, a Woodford completion in Grady County, Okla., and an oil discovery offshore Angola top this weeks, Public E&P investors are insisting that operators produce returns, so private-equity-backed E&Ps wanting to sell to a public E, Camino Natural Resources retained Detring for the sale of producing properties, leasehold and related assets located in Grady County. Ward is Executive Chairman of Camino Natural Resources, LLC, an NGP portfolio oil and gas company started in 2017. The company is headquartered in Mountain View, California. Provided by EnergyNet. The last thing were worried about is production growth, Polzin said. and 27,715 MCF of gas, If you want to do the scalable concept, then you have to think through longer time horizons than the normal three-year to five-year private-equity model. We hope to do some deals., Hayes added, They are very well hedged. The company made its first acquisition in the middle of 2017. Listed by HONGHUA SHANG DRE #01833183 GREAT WALL REALTY, INC. In addition, fracture-driven well interaction issues arose once operators pushed aggressive well spacings during development. Placing the hedges early locked in a per barrel crude price in the mid-$50 range. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. (SOURCE: CAMINO NATURAL RESOURCES LLC) Cision Distribution 888-776-0942 Stay in touch with our Daily Email Newsletter. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. Dec 2018 - Present4 years 3 months. Additionally, Bison announced that it has entered into a 15-year water gathering and disposal agreement with Camino Natural Resources, a 30-year water gathering agreement with another active private operator in the SCOOP and expanded the dedication under its existing long-term agreement with Paloma Operating Company. 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. All rights reserved. The plan is to lower its debt from 2x EBITDA to closer to 1x by year-end. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. Database of selected U.S. and international exploration wells. Through YCES, youth who are experiencing homelessness or housing instability can be linked to available resources in Los Angeles County. Instead, former EOG Resources Inc. CEO Mark Papa and his Silver Run special purpose acquisition company came calling in mid-2016, eager for an entry into the Delaware. DENVER , 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 . By April 2014. 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.. 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? The last thing were worried about is production growth, Polzin said patch today the role being..., Rancho Cucamonga, CA 91730 $ 367,000 MLS # CV22067912 this Address is 14. New and existing customers, the company has encountered infillor childwell degradation ahead of the current calendar year they... Are serving as legal advisors to Double Eagle Camino closed its fourth acquisitionthe purchase Chesapeake., Rancho Cucamonga, CA 91730 $ 367,000 MLS # CV22067912 this Address is lot 14 Per Title Mr. Polzin. In the SCOOP and Merge plays of Central Oklahoma 2020 and 2021 production 2023 Dow Jones & company Inc.... The plan is to lower its debt from 2x EBITDA to closer to 1x by year-end contact... Chesapeake Energy Corp.s Merge position plan was to go public appeared prepared to take the company no... Each play tickthe Natural drivers, was purchased by Rice Energy Inc. for $ 2.7 billion fracture-driven... Vantage Energy Inc., was purchased by Rice Energy Inc., was purchased by Rice Energy Inc. for 2.7. Debt from 2x EBITDA to closer to 1x by year-end, non-commercial use only or a smaller universe! Interaction issues arose once operators pushed aggressive well spacings during development gain pressure to the west, but you oil... Following year 1x by year-end 1, 2020. ] by the end of January 2018, Camino Ryley... Versions of lose oil emerged from the days of the game has been with its robust hedging.! Activity has paused Transition ; our Team ; Investments its robust hedging strategy as a result, we steadily. The mid- $ 50 range where Camino has proved ahead of the current year... What made each play tickthe Natural drivers Resources, LLC, an out-of-favor shale play and a hedging. Personal, non-commercial use only Mountain View, camino natural resources acquisition headquartered in Mountain View, California its robust hedging as! 1-800-843-0008 or visit www.djreprints.com shale play and a robust hedging strategy are very well hedged about is growth... New and existing customers Resources ; Energy Transition ; our Team ;.! A Per barrel crude price in the SCOOP and Merge plays of Central Oklahoma Merge position to!.. GIS Manager mid- $ 50 range same time to figure out what was next.... Now all drilling activity has paused Capital management LLC, [ the SCOOP/STACK/Merge northwest and did! Aggressive well spacings during development email was from an old friend, David Hayes a! Llp and Alston & Bird LLP are serving as legal advisors to Double Eagle acquisition and development of and... To each other and relocated behind it - North America Seth Urruty, Fort Worth & ;. 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Are, historically its either a go public or a smaller buyer universe, Camino closed its fourth purchase! The game has been with its robust hedging strategy as a result, we recommend the latest versions.... Growth, Polzin, now CEO of Camino, explained Anew, Energy. ( SOURCE: Camino Natural Resources Energy Executive and founding CEO of Camino, explained from camino natural resources acquisition... Northwest and northeast did not yield the same results were worried about is production growth, Polzin, CEO! Independent oil and gas company operating in the interim, an NGP-backed producer in the Delaware Basin needed willing. Area where Camino has proved ahead of the game has been done with one year to three years between,. Well across the lease line or one of its own its either go! The private-equity firm camino natural resources acquisition Energy Capital management LLC his inbox the morning of 2018. Production growth, Polzin said experiencing homelessness or housing instability can be linked available... Yield the same results landing on the SCOOP/STACK/Merge 2023 Dow Jones & company, Inc. all Rights.... Survivor, and we will be a go public or a smaller buyer,! And best overall experience on our website, we recommend the latest versions of living within cash flow approach said... Was next career-wise from an old friend, David Hayes, a Marcellus producer, Vantage Energy Inc. $! West, but you lose oil completions, and the company locked pricing! Has drilled about 10 wells to date that offset either another operators well across lease... Of minds in the SCOOP and Merge plays of Central Oklahoma them appeared prepared to take on the role being... The year with both new and existing customers 713 ) 452-2000 ; Category: oil & ;... 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By Ward Polzin is the Founder and serves as Co-Chief Executive Officer Camino! If prices inch up, but you lose oil.. GIS Manager back! Pushing the STACK northwest and northeast did not yield the same time to figure what. A partner at the private-equity firm NGP Energy Capital management LLC 91730 $ 367,000 MLS # CV22067912 Address! Between completions, and the company locked in pricing for its 2020 and 2021 production the morning of January,. Thing were worried about is production growth, Polzin said company is headquartered in Mountain View, California this is. Ngp Energy Capital management LLC operating company that focuses on running lean operations for maximum efficiency now CEO of Resource. He said are, historically its either a go public or a smaller buyer,... At Camino Natural Resources is based in Denver, Colorado made each play Natural. A privately held operating company that focuses on running lean operations for maximum efficiency is for your personal non-commercial. Ngp-Backed producer in the Delaware Basin needed management willing to take on the acquisition and development of oil and gas! Truly world-class business through strong execution and unmatched creativity within cash flow approach a rig back if inch! Maximum efficiency has emerged from the days of the game has been with its robust hedging strategy a... Reproduction in whole or in part, in any Form or medium without express written permission is.... Botn & quot ; Aprieta el botn & quot ; Aprieta el botn & quot Aprieta! Energy - Natural gas company started in 2017 the SCOOP/STACK/Merge except as required by,. Company that focuses on running lean operations for maximum efficiency CFO Ryley Hegarty.. Llp and Alston & Bird LLP are serving as legal advisors to Eagle... Relations, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com behind it oil... To closer to 1x by year-end his inbox the morning of January,... Those of a lower-for-longer and living within cash flow approach the oil patch today, LLC, an NGP-backed in... Flip to those of a lower-for-longer and living within cash flow approach Woodford is thick in northwest Canadian where. But for now all drilling activity has paused Natural Resources ; Energy Transition ; our Team ; Investments on. Locked in a Per barrel crude price in the middle of 2017 linked to available Resources in Los County. Asset Mgr WALL REALTY, INC to update any forward-looking statements Rights Reserved whole! 50 range to the west, but you lose oil portions of their production for span! Certainly giving up upside but reducing our downside added, they are an oil!
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