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Major: Ameredev II Oil Producer to be Sold for $4 Billion by EnCap03/29/2022
A US-based oil company, Ameredev II, that EnCap Investments owns as part of its portfolio, is on the verge of being sold for over $4 billion including debt — at least according to some inside sources. As part of the plan, EnCap appointed an undisclosed bank to launch an auction for Ameredev II in the coming weeks.
It’s important to note, however, that both EnCap and Ameredev II alike are declining to comment further on the matter.
Yet in light of the conflict in Ukraine, this move isn’t surprising. Buyout firms are currently scurrying to make cash from U.S. crude prices reaching their highest level since 2008, therefore bolstering their assets' value.
But the reason why these assets warrant such a price is not exclusively related to geopolitical shifts: at the end of last year, Ameredev II saw a huge overhaul, when EnCap combined it with another portfolio company, Advance Energy Partners, thus virtually creating one of the largest privately-owned oil producers in the country. And now the company looks to reap the benefits, while the iron is hot.
After selling its predecessor, Ameredev I, to Callon Petroleum Co. in 2017, EnCap invested $400 million in Ameredev II. And after continuous development, The company now operates the largest privately held contiguous land position in northern Delaware — the hub of the shale industry which spans Texas and New Mexico.
But EnCap is not the only one looking to earn a couple of brownie points off of its foresight. In addition to them, Aethon Energy Management, as well as NGP, are also currently exploring the sale of their acreage in North Louisiana for $6 billion. The two companies are aiming to exit Colgate Energy Partners III for more than $5 billion.
Tracking such movements is hard. In order to foresee possible opportunities or threats, one needs to be fully aware of not only the market, but assets, their locations, borders, and resource bases alike, which requires access to special energy data and deep analyses.
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