Landing the Eagle

Landing the Eagle

After securing more than $1 billion in financing two years ago to acquire and exploit underdeveloped oil and gas assets, Houston-based newcomer Wildfire Energy has landed its first smokin’ hot deal—this one in the Eagle Ford. Reese Energy Consulting today is following the latest news from Wildfire which will purchase Denver-based Hawkwood Energy in agreements valued at $650 million. Hawkwood shareholders will retain a 50% equity interest in Wildfire with the other 50% held by Wildfire’s management team and capital backer Kayne Anderson. Hawkwood operates 170,000 contiguous net acres in the Eagle Ford, including more than 375 wells, 19 MBOED in production, and 750+ future net locations. Founded in 2012, the company shifted focus two years later to East Texas, accumulating Eagle Ford assets in 30 transactions that also included the 2017 acquisition of Halćon Resources’ EF subsidiaries. That deal gifted Hardwood 81,000 net acres, 170 wells, and 9+ MBOED.

What do you think? Learn more about Reese Energy Consulting and our energy services at www.ReeseEnergyConsulting.com.​

Wildfire Energy

WildFire Energy is an independent energy company focused on the acquisition, exploitation, and production of oil and natural gas properties in the United States through the application of modern technology and production optimization. The company is led by Chief Executive Officer Anthony Bahr, the former President of WildHorse Resource Development, and President & Chief Operating Officer, Steve Habachy, former Chief Operating Officer of WildHorse Resource Development. WildFire Energy is funded by management, Warburg Pincus, and the Kayne Private Energy Income Funds platform.

www.wildfire-energy.com

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Operation Bullseye

Operation Bullseye

ESG plans throughout the nation’s oil and gas industry continue to make headlines these days, and while the end goal is the same—net zero greenhouse emissions by 2050—the journey to get there has many different roadmaps. Reese Energy Consulting today is following the latest ESG report from Houston-based EagleClaw Midstream, the largest gathering and processing operator in the Permian’s Delaware. EagleClaw expects to achieve single-digit reductions in its carbon emissions level by 2025 with a plan that includes converting its fleet to electric vehicles, expanding electric compression, investing in CCS technologies, and tying 20% of employee bonuses to the company’s annual ESG goals. Okla. City-based Devon also has announced emissions-reduction plans that sweep its operations in the Delaware, Eagle Ford, Anadarko, Powder River and Williston basins. Actions will include reducing and ultimately eliminating flaring by 2030, electrifying facilities, adding air-driven pneumatic controllers, and minimizing freshwater use. Bold moves ahead.

What do you think? How can REC help you along your energy transition journey? Contact us or learn more at www.ReeseEnergyConsulting.com.

 

EagleClaw Midstream

EagleClaw Midstream is strategically located in the heart of the Delaware Basin in the Permian, one of the fastest growing areas for oil and gas development in the world. They provide the gathering, compression, processing, transportation and water management services required to bring natural gas, natural gas liquids and crude oil to market and are dedicated to providing the best service and netback for their customers.

www.eagleclawmidstream.com

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A Big Cha-Ching in Pipeline Land

A Big Cha-Ching in Pipeline Land

Boston-based private equity firm ArcLight may have just scored the investment deal of a lifetime. Reese Energy Consulting today is following the latest news from Houston-based Kinder Morgan and equity partner Brookfield Infrastructure Partners, which now have sold a 25% joint interest in Natural Gas Pipeline Company of America for $830 million. The enterprise value of that minority interest, however, is more in the neighborhood of $5.2 billion. NGPL not only ranks as the largest natural gas pipeline to serve high-demand Chicago-area markets, it’s also one of the largest in the nation at more than 9,100 miles. The system provides customer access to all major gas supply basins, interconnects with numerous intrastate and interstate systems, and offers 288 BCF of storage. Upon closing next month, KM and Brookfield each will retain a $37.5% interest in NGPL, and Kinder Morgan will continue to operate the pipeline. Boston-based ArcLight Capital Partners manages energy investments focused on midstream, power, and production infrastructure.

 

Arclight Capital

Founded in 2001, ArcLight helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. They have invested approximately $23 billion in 110 transactions since inception, generating strong realized returns for their limited partners from 69 exits across diverse market cycles.

www.arclight.com

What do you think? Learn more about Reese Energy Consulting and our wealth of natural gas services and expertise at www.ReeseEnergyConsulting.com.

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