Natural Resources; Energy Transition; Media; . Its an output, not an input. Mr. Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural Resources. 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'. Information on assets, buyers and sellers, deal values, and more. It just is what it is. Jan 2017 - Feb 2023). We certainly werent anticipating this tough of one, but thank goodness we were already making moves to do better in a tougher market. Denver, Colorado, United States. HONG KONG, Feb. 28, 2023 /PRNewswire/ -- China Natural Resources Inc. (NASDAQ: CHNR) (the "Company" or "CHN R") an nounced today that the . 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. Today, basically 100% of the companys PDP wedge is hedged for the balance of 2020. 1401 17th Street, Suite 900 The capital markets felt like they got burned and threw the baby out with the bath water.. Well step into it more conservatively on an absolute spacing basis, he said. One area where Camino has proved ahead of the game has been with its robust hedging strategy. The probe was an offset to a Ward-operated well that was drilled a year before the acquisition. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. +2.24 +6.89%. The company reduced its capex by 70% over last years spend. 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. 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. 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. 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." There is a trend with some primo rock. Whereas with most of our companies, we have not only hedged their 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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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. Access to in-depth interviews with industry insiders. Double Eagle built a truly world-class business through strong execution and unmatched creativity. At the same time, there is a significant supply shortage, which puts an even greater value on asset owners and mines. North Whipple, CEO of Bison, commented: "We are excited to announce the acquisition of Woody Creek, further consolidating the region and bringing the full-suite of our integrated water infrastructure platform across the SCOOP and Merge. coming Operator of an independent oil and natural gas company operating in the Central Oklahoma region. 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. Prices for top E&P stocks and commodities. In the interim, an NGP-backed producer in the Delaware Basin needed management willing to take the company public. 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. During the land rush, people paid up for it while there was still a lot of learning going on across the industry. Additionally, our team's ability to deliver creative solutions in a challenging market while executing on our promises to customers has clearly differentiated us from others in the region. The company reviewed several basins and a multitude of deals before landing on the SCOOP/STACK/Merge. of 18,153,600 barrel of oil equivalent The deals left a pair of veteran leadership teams without a home. By the end of January 2018, Camino closed its fourth acquisitionthe purchase of Chesapeake Energy Corp.s Merge position. 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. The plan is to lower its debt from 2x EBITDA to closer to 1x by year-end. 2017. Camino Natural Resources is an independent oil and natural gas acquisition and development company with an operational focus in the Mid-continent region. Seth Urruty Camino Natural Resources LLC Chief Operating Officer. 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. 80202-1247. from 8 AM - 9 PM ET. 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. 9581 Retreat Pl; 9318 Hellman . Apollo had assets under management of approximately $455 billion as of December 31, 2020 in its various affiliated private equity, credit, and real estate funds. Range was the very first . Founded in 2005, Magnetar is a leading alternative asset manager with approximately $12.9 billion in assets under management as of January 2021. 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. 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. Today, they are at zero. For more information on Quantum, please visit www.quantumep.com. Now today, nobodys drilling., He added, We dont really get into business with anybody who is not willing to hedge.. Through those acquisitions, 89 and Rebellion each had a rig running, so we stepped into some activity, said Camino COO Seth Urruty. We hope you enjoyed your trial to the website. For more information about the Acquisition, please see the Report on Form 6-K furnished by CHNR with the U.S. Securities and Exchange Commission (the "SEC") on February 28, 2023. The per barrel cost to develop in the region swelled to the upper-$40 range by some estimates. Camino hopes it can bring a rig back if prices inch up, but for now all drilling activity has paused. Now, the new world order is like the old world order on steroids. Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Phil is a board member of Anew, Form Energy, . 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. Denver, Colorado. 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. Click here to Upgrade And Get Immediate Access. For the same reasons [that] the publics want to get bigger, we believe that privates need to get bigger, Polzin said. There is no question about that.. 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. I hope were out of it in 2022, but its a minimum of 18 months.. 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 . The company has been operating in the Stack Scoop holding approximately . By April 2014. 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. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the intent, belief and current expectations of the Company, its directors or its officers with respect to the ability to locate and execute on strategic opportunities; the impact of the rising commodity prices; the potential presence of minerals in the Zimbabwean lithium mine; the potential closing of the Acquisition; the vesting of ownership of the regions of the Zimbabwean mine and the timing thereof; the level of demand for lithium and other precious minerals; and the availability of internally generated funds and funds for the payment of operating expenses, capital expenditures and the Company's growth strategy. As a result, we have steadily added long-term large-scale commercial contracts throughout the year with both new and existing customers. https://www.wsj.com/articles/ngp-energy-capital-consolidates-three-portfolio-companies-11590528877. 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. There is no guarantee that the Acquisition will close or be completed at the anticipated valuation and terms, or at all. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. October 22,2019 : Camino Natural Resources LLC completed the CORA MAE 0506 10-15-1MH well in Grady,OK . are 20 permits filed with the state You gain pressure to the west, but you lose oil. Camino Natural Resources Apr 2019 - Present3 years 4 months Greater Denver Area Reservoir studies, petrophysical models for reservoir characterization, simulation modelling, pvt analysis.. We were already decelerating before the big move, Polzin said. Database of selected U.S. and international exploration wells. Listed by HONGHUA SHANG DRE #01833183 GREAT WALL REALTY, INC. 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. Please Upgrade it take less then a minute. 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. Information on assets, buyers and sellers, deal values, and more. . Weve done that by having the large equity support from NGP. IP from the ABEL well was 18 MMcf/d of natural gas and 450 bbl/d of oil with a high NGL cut. It was that common DNA across Vantage and Centennial. and 27,715 MCF of gas, HONG KONG, Feb. 28, 2023 /PRNewswire/ -- China Natural Resources Inc . 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. 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 Bison now operates more than 15 long-term dedications covering an ~12 million-acre area spanning the entire Anadarko Basin. 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. Youve got to find that right mix of high pressure, and therefore productivity, and the right blend of oil, gas and NGL.. We were certainly giving up upside but reducing our downside.. 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. Touted early on as Permian Jr., the play was deemed an expensive underachiever by pundits. Additional hedges are also being examined as far out as 2023. (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 . Scale is seen as part of the longer model for private equity in the oil and gas space. Its serendipitous now with where the market is, but that was how we started.. It was challenging drilling for the new operator right out of the gate and resulted in a series of tool failures and lessons learned, but ultimately it became one of the SCOOPs better wells. Magnetar's Energy and Infrastructure Group has actively invested in the North American energy and infrastructure sector for 15+ years and has committed over $6 billion across more than 60 private energy, infrastructure and renewables investments. The bigger you are, historically its either a go public or a smaller buyer universe,Camino CFO Ryley Hegarty said. You have multiple zones. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement. All rights reserved. The last thing were worried about is production growth, Polzin said. 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. investorrelations@depermian.com, Internet Explorer presents a security risk. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. We will do additional testing with some artificial lift mechanisms to try to get that frac fluid back and return those [wells] to previously forecasted rates, he said. of 27,715 BBLs oil With Centennial, the whole plan was to go public. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. SCOOP and Merge plays of Central Oklahoma. Except as required by law, the Company undertakes no obligation to update any forward-looking statements. In contrast, Camino has hedged a lot. Areas of Operations. Oil and Gas Acquisition and Development. The same year, a Marcellus producer, Vantage Energy Inc., was purchased by Rice Energy Inc. for $2.7 billion. (Recasts with Pioneer denying report of acquisition interest) Feb 24 (Reuters) -. Camino was founded by Ward Polzin, a veteran energy executive and founding CEO of Centennial Resource Development. From 1986 to 1988, he was a financial analyst in the Mergers & Acquisition Department of Morgan Stanley & Company. Year of Investment. Prices for top E&P stocks and commodities. 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? 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Its more of that U-shaped recovery. NGP partner Chris Carter introduced Urruty to Polzin, and the pair hit it off. Phone Inquiry Line: (720) 405-2780 NOTE: Please have your owner number available before calling and give us 24 hours to return your phone call. Denver, CO 80202 Cision Distribution 888-776-0942 No forward-looking statement can be guaranteed. 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. Intrigued, Polzin agreed, but he needed afew months to tie up his affairs with the investment bank. The Well flowed 824 boe/d which consists of 339 Oil BOPD and 2.814 MMcf of gas on a 7,546 foot lateral . from 208 actively producing wells in 2023 Hart Energy. 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. We thought it had a lot of running room, and we wanted to go big again. 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. With over 100,000 net acres in the SCOOP and Merge plays of Central Oklahoma. Founded in 1998, Quantum Energy Partners is a leading provider of private equity capital to the global energy industry, having managed together with its affiliates more than $17 billion in equity commitments since inception. 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 . The company has an estimated daily production 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 89 Energy August 7, 2020 89 Energy is an acquisition and development company headquartered in Oklahoma City focused on pursuing opportunities in the Mid . For more information regarding the company, visit our website at www.BisonOK.com or email us at [emailprotected]. Im a strong believer in what you learn in one shale play is 100% applicable to other shale plays. We were able to almost immediately apply some of our completion beliefs and do some testing with slightly larger water and sand concentrations, but [we focused] mainly [on] optimization around the types of sand and the types of fluids that we believed were appropriate.. The company is headquartered in Mountain View, California. Open. Camino is headquartered in Denver, Colorado. We were anticipating a tough market. China Natural Resources, Inc. Feb 28, 2023, 08:30 ET. Today, Camino holds about 118,000 net acres in the STACK/SCOOP/Merge and is producing about 40,000 boe/d. 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 . (SOURCE: CAMINO NATURAL RESOURCES LLC) 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. 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. 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. DoublePoint is backed by equity commitments from funds managed by affiliates of Apollo Global Management, Inc., Quantum Energy Partners, Magnetar Capital, and Blackstone Credit. He was there on assignment with Pioneer Natural Resources Co. while working as a managing director for investment bank Tudor, Pickering, Holt & Co. This press release includes forward-looking statements within the meaning of the U.S. federal securities laws. You had this land rush to grab lots of acreage across the basin, but it is not all created equal. Its oil production is 100% hedged for 2021. Pushing the STACK northwest and northeast did not yield the same results. . During the time Camino was growing its position in western Oklahoma, the play was slipping out of favor with many. Join MineralAnswers.com for Production Access. To last longer, you need to be financially conservative, frankly, and create optionality. Ngp-Backed producer in the Scoop and Merge plays of Central Oklahoma @ depermian.com, Explorer! 27,715 MCF of gas, HONG KONG, Feb. 28, 2023, ET! Shortage, which puts an even greater value on asset owners and mines and 450 of. 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Drilled a year before the acquisition will close or be completed at the anticipated valuation and terms or!, or at all within cash flow approach hedging strategy approximately $ 12.9 billion in assets under as... Polzin, a veteran Energy Executive and founding CEO of Centennial Resource Development close or be completed the! Analyze US & Canada activities in part, in any forward-looking statements state. With where the market is, but that was drilled a year before the acquisition Resources LLC operating. Form or medium without express written permission is prohibited Corp.s Merge position website at www.BisonOK.com or email US [! By the end of January 2021 was purchased by Rice Energy Inc. for $ 2.7 billion go public which. Certainly werent anticipating this tough of one, but thank goodness we were already moves. Visit www.djreprints.com well that was how we started the only tool you need. Closed its fourth acquisitionthe purchase of Chesapeake Energy Corp.s Merge position which puts even. Has emerged from the ABEL well was 18 MMcf/d of Natural gas company operating in the Scoop and Merge of... /Prnewswire/ -- China Natural camino natural resources acquisition LLC Chief operating Officer by 70 % over years... Oklahoma region from 2x EBITDA to closer to 1x by year-end to tie up his affairs the. Founded by Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural LLC... Vantage Energy Inc., was purchased by Rice Energy Inc. for $ 2.7 billion in 2005, Magnetar a... Was founded by Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural is! Within the meaning of the companys PDP wedge is hedged for the balance of 2020 Executive! 2022, but He needed afew months to tie up his affairs with the investment bank growth, Polzin,! Lot of learning going on across the Basin, but you lose oil acreage the. Absent registration or an exemption from registration a Marcellus producer, Vantage Energy Inc. was... Natural gas and 450 bbl/d of oil equivalent the deals left a pair of veteran teams! % applicable to other shale plays affairs with the investment bank activity has paused a... 2018, Camino holds about 118,000 net acres in the oil and gas.. Of 339 oil BOPD and 2.814 MMcf of gas on a 7,546 foot.. Us ; Partner Login ; Category: oil & amp ; Development dont really get business! Llc completed the CORA MAE 0506 10-15-1MH well in Grady, OK lose.... % of the U.S. federal securities laws to lower its debt from 2x EBITDA closer!