Blackstone Energy Partners Buys EagleClaw Midstream Ventures
EagleClaw Midstream Ventures LLC and its financial sponsor, EnCap Flatrock Midstream, have entered into a binding agreement to sell the company to funds managed by Blackstone Energy Partners and Blackstone Capital Partners for approximately $2 billion.EagleClaw is a privately held midstream operator in the...
Blackstone Energy Partners Buys EagleClaw Midstream Ventures
Headlines, Global DealsEagleClaw Midstream Ventures LLC and its financial sponsor, EnCap Flatrock Midstream, have entered into a binding agreement to sell the company to funds managed by Blackstone Energy Partners and Blackstone Capital Partners for approximately $2 billion.
EagleClaw is a privately held midstream operator in the Permian’s Delaware Basin in West Texas. The company’s assets are strategically located in Reeves, Ward and Culberson counties and include more than 375 miles of natural gas gathering pipelines and 320 MMcf/d of processing capacity with an additional 400 MMcf/d under construction.
The all-cash transaction is expected to close by the end of Jul-2017.
April 17, 2017
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COP 2012 Permian programOthers
- 1.1 MM net acres in liquids??ich play (60% liquids) with 1.1 BBOE resources
- Conoco plans to invest $600 million to drill over 300 wells
- Plans to reach ~50 MBOE/d in 2012 and ~85 MBOE/d by 2016
- Average F&D: $16/BOE
- Over 7,000 gross identified well locations
- Promising early results in Avalon and Wolfcamp plays
View COP Jun-2012 presentation
June 7, 2012 -
Concho Releases Permian Basin Operational UpdateOthersIn its Aug-2012 presentation, Concho Resources provided an update on its Permian Basin operations. The company:
- Invested $392 million (28%) of the total 2012 Drilling & Completion budget of $1.4 billion
- Plans to operate 17 rigs in H2-2012
- Expects to drill ~350 wells in 2012
- Holds a multi-year inventory of more than 5,770 drilling opportunities (2,064 40-acre Wolfberry; 2,629 20-acre Wolfberry; 927 shallow Wolfcamp)
- Concentrated drilling activity in the Wolfberry play
August 14, 2012 - Energen 2013 E&P Budget Focused on Permian Drilling
Energen Corporation revealed a consolidated capital budget of $975 million to continue its focus on its liquids-rich assets in the Permian Basin of West Texas.The company revised its 2013 production guidance to 26.1 MMBOE (more than 50% liquids), 0.4 MMBOE less than previous forecast.Capital budget...
Energen 2013 E&P Budget Focused on Permian DrillingProjects & Capex, OthersEnergen Corporation revealed a consolidated capital budget of $975 million to continue its focus on its liquids-rich assets in the Permian Basin of West Texas.
The company revised its 2013 production guidance to 26.1 MMBOE (more than 50% liquids), 0.4 MMBOE less than previous forecast.
Capital budget highlights
- $745 million allocated to the continued development of the Wolfberry play in the the Midland Basin, the horizontal 3rd Bone Spring sand in the Delaware Basin, and conventional and waterflood properties in the Central Basin Platform
- $130 million to be spent to test horizontal Wolfcamp and/or Cline potential in the Midland Basin and the horizontal Wolfcamp potential in the Delaware Basin
- The company expects to drill several wells in the Delaware Basin to test the vertical Wolfbone play
- No additional investments planned for dry gas basins; $25 million to be invested for pay-adds and facilities in the San Juan Basin
December 19, 2012 - Range Resources Sells Permian Assets for $275 Million
Range Resources signed an agreement to sell certain Permian Basin assets for $275 million.Asset HighlightsCovers ~7,000 net acres in Southeast New Mexico and West TexasProduction of 3 MBOE/d (70% gas)Average unadjusted metric of $91,667/Daily BOE for productionView Permian transactions in the Global...
Range Resources Sells Permian Assets for $275 MillionGlobal Deals, Headlines, OthersRange Resources signed an agreement to sell certain Permian Basin assets for $275 million.
Asset Highlights
- Covers ~7,000 net acres in Southeast New Mexico and West Texas
- Production of 3 MBOE/d (70% gas)
- Average unadjusted metric of $91,667/Daily BOE for production
View Permian transactions in the Global M&A Database
February 27, 2013 - Vanguard Q2 Production Triples After Permian Acquisition
Vanguard Natural Resources reported a tripling of Q2-2013 production YoY to 36.5 MBOE/d. The rise s attributed to the acquisition of natural gas, oil and NGL properties in the Permian Basin in south-east New Mexico and West Texas from Range Resources.Q2-2013 results Net profit of $81.1 million, down 22%...
Vanguard Q2 Production Triples After Permian AcquisitionOthers, Results & Reports, HeadlinesVanguard Natural Resources reported a tripling of Q2-2013 production YoY to 36.5 MBOE/d. The rise s attributed to the acquisition of natural gas, oil and NGL properties in the Permian Basin in south-east New Mexico and West Texas from Range Resources.
Q2-2013 results
- Net profit of $81.1 million, down 22% YoY
- Revenue of $175.3 million, up 15% YoY
- Capex of $14.8 million, down 2% YoY
H1-2013 results
- Net profit of $54.1 million, down 47% YoY
- Revenue of $242.7 million, up 16% YoY
- Production of 34.8 MBOE/d, up 169% YoY
August 1, 2013
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