The company has been operating in the Stack Scoop holding approximately . At the same time, there is a significant supply shortage, which puts an even greater value on asset owners and mines. that Camino Natural Resources, Llc can drill in the future. The new NGP-backed ventures first order of business was targeting assets for A&D. 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. projected PDP [proved developed producing] but a significant amount of the projected increase in production [as well]. 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. When the play overheated in 2017, operators pulled away from the core, trying to findproductive extensions to widen the footprint. (BOE) reported during the month More Real Estate Resources. For investor relations, please contact Michael Dalton at (713) 452-2000. Feishang Group Limited (CHNR's controlling shareholder) owns 70% of Williams Minerals and Top Pacific (China) Limited, a non-affiliate, owns the remaining 30%. 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.". Today, basically 100% of the companys PDP wedge is hedged for the balance of 2020. As the company grew, the importance of scale continued to drive its narrative. Pioneer will issue approximately 27.2 million shares of common stock in the transaction with an additional $1 billion of cash. 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. Ward is Executive Chairman of Camino Natural Resources, LLC, an NGP portfolio oil and gas company started in 2017. 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. Cision Distribution 888-776-0942 . Phil is a board member of Anew, Form Energy, . DoublePoint is backed by equity commitments from funds managed by affiliates of Apollo Global Management, Inc., Quantum Energy Partners, Magnetar Capital, and Blackstone Credit. (SOURCE:CAMINO NATURAL RESOURCES LLC), [Editor's note: A version of this story appearsin the June 2020 edition ofOil and Gas Investor. Bison now operates more than 15 long-term dedications covering an ~12 million-acre area spanning the entire Anadarko Basin. October 22,2019 : Camino Natural Resources LLC completed the ASH 0807 36-1-1WH well in Grady,OK . All rights reserved. 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. 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. 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. Mr. Ward Polzin is the Founder and serves as Co-Chief Executive Officer at Camino Natural Resources. 34.73. These teams spun out around the same time to figure out what was next career-wise. Denver, CO 80202 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. Operator of an independent oil and natural gas company operating in the Central Oklahoma region. 2017. The other 3 lots are adjacent to each other and relocated behind it. We certainly werent anticipating this tough of one, but thank goodness we were already making moves to do better in a tougher market. Please Upgrade it take less then a minute. Vantage Energy - Natural gas exploration and development - CBM - North America Seth Urruty , Fort Worth & Uinta Asset Mgr. 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. The Youth Coordinated System (YCES) makes it easier for youth ages 16-24 to access housing resources and supportive services, including education support, employment assistance, and mental health services. Through those acquisitions, 89 and Rebellion each had a rig running, so we stepped into some activity, said Camino COO Seth Urruty. The probe was an offset to a Ward-operated well that was drilled a year before the acquisition. Its serendipitous now with where the market is, but that was how we started.. The company employs different strategies for managing the primary well to help optimize the fracture complexity in the child. When, in any forward-looking statement, the Company, or its management, expresses an expectation or belief as to future results, that expectation or belief is expressed in good faith and is believed to have a reasonable basis, but there can be no assurance that the stated expectation or belief will result or be achieved or accomplished. If we are going to be here a long time, were not going to roll the dice, so to speak, and be unhedged, Polzin said. Media; Contact Us; Partner Login; Category: Oil & Gas Acquisitions & Development. Camino hopes it can bring a rig back if prices inch up, but for now all drilling activity has paused. Search 176,552 Deals Now. Camino is headquartered in Denver, Colorado. Vinson & Elkins LLP and Alston & Bird LLP are serving as legal advisors to Double Eagle. Operators were pushing the boundaries of the core, while the issue of parent/child well interference began to rear its ugly head. Camino Natural Resources LLC, an oil-and-gas company backed by NGP Energy Capital Management, is once again acting as a consolidator in the private-equity firms portfolio. 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 Apr 2019 - Present3 years 4 months Greater Denver Area Reservoir studies, petrophysical models for reservoir characterization, simulation modelling, pvt analysis.. Headquarters. DoublePoint is a Fort Worth, Texas based upstream oil and gas company, led by the Double Eagle management team in partnership with FourPoint Energy. You had this land rush to grab lots of acreage across the basin, but it is not all created equal. 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. 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. The culmination of these deals brought Caminos holding to roughly 100,000 acres split evenly between the SCOOP and the Merge. He is a Venture Partner of the NGP funds and brings a wealth of over 35 years of leadership, engineering, commercial, and investing experience in the energy industry. For the same reasons [that] the publics want to get bigger, we believe that privates need to get bigger, Polzin said. The firm is based in Evanston, Illinois and has offices in London and Houston. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. There is no guarantee that the Acquisition will close or be completed at the anticipated valuation and terms, or at all. Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. The Company may issue restricted CHNR shares at a discount to the market price to secure a portion of the required capital. He joined NGP in 2022. The result was Denver-based Camino Natural Resources LLC. 2023 PitchBook. currently ranked #6 in the state of Oklahoma based on a total production GIS Manager. We were anticipating a tough market. USD. Camino is. 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. 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. There absolutely are issues with parent wells, and thats a big piece of wanting to understand how to protect the parent, how [to] produce that parent and help it get the frac fluid off early. Through YCES, youth who are experiencing homelessness or housing instability can be linked to available resources in Los Angeles County. Drilling Activity ( and 27,715 MCF of gas, 1401 17th Street, Suite 900 Seth Urruty, COO of Oklahoma-based independent Camino Natural Resources, sat down with Jessica Morales to discuss staying attractive. Track new and recompletion permits by: well name, class, (Oil, Gas, etc) county, state, operator, permit date and, status, API, lease information, and legal description, Rig Locations Map / Database: Updated Weekly, Search and view rig locations by: operator, well name, county, state, and wellbore type, Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages. 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. 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. In contrast, Camino has hedged a lot. Denver, Colorado, United States. You lose pressure when you move to the east. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. By April 2014. We hope you enjoyed your trial to the website. NGP expects to complete the mergers by late June, one of the people said. Information on assets, buyers and sellers, deal values, and more. 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. Tue, 03/01/2022 - 11:40 AM. We didnt see that one company trying to become a large private company in that space. 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. Thats been a negative for our play. CO . 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. Scale is seen as part of the longer model for private equity in the oil and gas space. 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. Actividades. 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. Provided by EnergyNet. 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. 1401 17th St Ste 1000 Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. We hope to do some deals., Hayes added, They are very well hedged. I think capacity is important, both equity and debt.. Camino Natural Resources LLC, an oil-and-gas company backed by NGP Energy Capital Management, is once again acting as a consolidator in the private-equity firm's portfolio. 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 . Camino Natural Resources is an independent oil and natural gas acquisition and development company with an operational focus in the Mid-continent region. Hayes had a proposition: He wanted Polzin to run an MLP the firm would set up in Denver. Can you talk about how outsourcing your owner support helps your internal team align with the company's strategy of being efficient? Information on assets, buyers and sellers, deal values, and more. Scoops about Camino Paving . Its lower prices for a longer time frame, and deeper cuts [are] required. 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. Touted early on as Permian Jr., the play was deemed an expensive underachiever by pundits. I want to be a survivor, and we will be. In the interim, an NGP-backed producer in the Delaware Basin needed management willing to take the company public. Seth Urruty Camino Natural Resources LLC Chief Operating Officer. 2023 Hart Energy. (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 . Unauthorized distribution, transmission or republication strictly prohibited. To last longer, you need to be financially conservative, frankly, and create optionality. The Well flowed 824 boe/d which consists of 339 Oil BOPD and 2.814 MMcf of gas on a 7,546 foot lateral . . All rights reserved. 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. Merge with some other companies, maybe. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. 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. 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. 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. For more information on Quantum, please visit www.quantumep.com. [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. 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. Denver, Colorado. He and his team navigated Centennial through the ebb and flow of 2014 and 2015, successfully driving costs down and productivity up, and began positioning the company to go public. During the land rush, people paid up for it while there was still a lot of learning going on across the industry. Its an output, not an input. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. 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 first well the company drilled 100% as Camino was the ABEL 25-36-1XHan early lower Mississippian/Sycamore target in Grady County. 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. Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. 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 . Access to in-depth interviews with industry insiders. We were already decelerating before the big move, Polzin said. The company is headquartered in Mountain View, California. The capital markets felt like they got burned and threw the baby out with the bath water.. We were certainly giving up upside but reducing our downside.. 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 . Stay in touch with our Daily Email Newsletter. 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. from 208 actively producing wells in Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness. There was a lot of common DNA [such as] running multiple rigs in a big shale play and having quality [rock and people] and financially [being capable of going] public. The bigger you are, historically its either a go public or a smaller buyer universe,Camino CFO Ryley Hegarty said. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement. This press release contains forward-looking statements based on Double Eagles current expectations that involve a number of risks and uncertainties. Editor's note: Updated Sept. 3, 2019. Even as it reviewed deals, it studied what made each play tickthe natural drivers. 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. Camino knew the area was complex. This press release includes forward-looking statements within the meaning of the U.S. federal securities laws. Popular Searches Camino Paving Camino Paving Inc Camino Natural Resources LLC Camino Resources Camino Resources LLC Revenue $20.7 M Employees 37 Founded 1976 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. No forward-looking statement can be guaranteed. Camino Paving Inc is a company that operates in the Oil & Energy industry. By having scale we have a large lending capacity with our senior lenders. 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