Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. He joined NGP in 2022. More than 2,500 Subscribers rely on our data each day. Most drilling has been done with one year to three years between completions, and the company has encountered infillor childwell degradation. Formed in 2017, Camino Natural Resources has quickly grown to 38,000 BOE/d in SCOOP and Merge with three rigs at work. At the same time, there is a significant supply shortage, which puts an even greater value on asset owners and mines. NGP partner Chris Carter introduced Urruty to Polzin, and the pair hit it off. Denver, Colorado. 1401 17th Street, Suite 900 Caminos Cora Mae 10-15-1WH well is located in Grady County, Okla. Camino has drilled someof the SCOOPs top wells. Forward-looking statements in this press release include, but are not limited to, statements regarding the proposed offering and the intended use of proceeds. FORT WORTH, Texas--(BUSINESS WIRE)--Double Eagle III Midco 2 LLC (the Company or Double Eagle), wholly owned by DoublePoint Energy, LLC (DoublePoint), announced that it has entered into a definitive purchase agreement to sell all leasehold interests, subsidiaries and related assets to Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer"). It was that common DNA across Vantage and Centennial. Camino Natural Resources, Llc is 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. Ward Polzin was in Dallas when an email ticked into his inbox the morning of January 17, 2013. Click here to Upgrade And Get Immediate Access. The first well the company drilled 100% as Camino was the ABEL 25-36-1XHan early lower Mississippian/Sycamore target in Grady County. Database of selected U.S. and international exploration wells. Get near real-time access to futures pricing, major energy stocks, and related articles and insights. 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. Corporate Development Investor Relations 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. We were already decelerating before the big move, Polzin said. 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 . 1401 17th St Ste 1000 I expect we will be bigger, and thats the goal. Year of Investment. There is a trend with some primo rock. 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.". New Mexico Wells Drilled by Operator in 2021. 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. There 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. that Camino Natural Resources, Llc can drill in the future. Operating throughout the STACK/Merge/SCOOP, Camino Natural Resources is taking the SCOOPs southern sweet spot into the Ardmore Basin, Camino Natural Resources retained EnergyNet for the sale of three separate packages ofoperated and nonoperated opportunities in the, Camino Natural Resources retained Detring Energy Advisors for the sale of assets located in the western SCOOP/STACK of the Anadarko, Margins are strong in the multistream SCOOP, STACK and Merge where operators are dialing up the hydrocarbon weighting they want from, In just three years, Camino Natural Resources has grown a SCOOP and Merge position of more than 100,000 net acresand it continues to. Seth Urruty Camino Natural Resources LLC Chief Operating Officer. The plan is to lower its debt from 2x EBITDA to closer to 1x by year-end. currently ranked #6 in the state of Oklahoma based on a total production 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. There will always be room for the small, entrepreneurial, focused company, but we think we need to position ourselves to be a larger private. 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. (Recasts with Pioneer denying report of acquisition interest) Feb 24 (Reuters) -. Camino Natural Resources. No forward-looking statement can be guaranteed. 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). We certainly werent anticipating this tough of one, but thank goodness we were already making moves to do better in a tougher market. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. The child wells are right in line on average with our type curve expectations, Urruty said. It is somewhere in the middle. 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. Survival is on a lot of minds in the oil patch today. Camino Paving Inc is a company that operates in the Oil & Energy industry. the state. 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. (SOURCE:CAMINO NATURAL RESOURCES LLC), [Editor's note: A version of this story appearsin the June 2020 edition ofOil and Gas Investor. This transaction is valued at approximately $6.4 billion as of April 1, 2021, comprised of approximately 27.2 million shares of Pioneer common stock, $1 billion of cash and approximately $0.9 billion of debt and liabilities. Pushing the STACK northwest and northeast did not yield the same results. The Woodford is thick in northwest Canadian County where the Cana Field resides. 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. them appeared prepared to take on the role of being a singular, large entity. The company employs different strategies for managing the primary well to help optimize the fracture complexity in the child. There is no question about that.. Its an output, not an input. of performance.. You have multiple zones. Focus. 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 Provided by EnergyNet. Camino Natural Resources is based in Denver, Colorado. 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. 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. 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. Information on assets, buyers and sellers, deal values, and more. Securities may not be offered or sold in the United States absent registration or an exemption from registration. 2023 Shale Experts, All rights reserved. He was there on assignment with Pioneer Natural Resources Co. while working as a managing director for investment bank Tudor, Pickering, Holt & Co. During the time Camino was growing its position in western Oklahoma, the play was slipping out of favor with many. Were not aiming to grow. Camino was founded by Ward Polzin, a veteran energy executive and founding CEO of Centennial Resource Development. Camino Natural Resources is an independent oil and natural gas acquisition and development company with an operational focus in the Mid-continent region. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. Camino is headquartered in Denver, Colorado. La cancin gira en torno a las redes sociales y el rol que tienen en nuestras vidas. Drilling Activity ( 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. They simply were not capitalized to do so. 1 min read. Camino has drilled about 10 wells to date that offset either another operators well across the lease line or one of its own. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement. In the interim, an NGP-backed producer in the Delaware Basin needed management willing to take the company public. 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. We thought it had a lot of running room, and we wanted to go big again. DENVER , We merged the teams together in late 2016.. 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. It just is what it is. 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. 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. Even though there were three dozen private-equity-backed companies in the SCOOP/STACK/Merge, none of Headquarters. 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'. 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