Percussion Petroleum II will pursue the same acquisition and development strategy as its predecessor, which sold its position in the Permian Basin’s Northwest Shelf to Spur Energy Partners in mid-2019.
The appointment of David Anders as CFO rounds out the C-suite at Edgewater with the addition of “considerable M&A and capital markets experience in the midstream space,” CEO Stephen Smith says.
Commenting on the current state of the oil market, Jason Downie, founding partner of Tailwater Capital, says he expects to see “some of the most compelling buying opportunities” in many years.
In a time of economic uncertainty and significant disruption, oil and gas producers need to take steps today in order to capture value now and in years to come.
After essentially five years of an ongoing downturn, the oil and gas industry is desperately seeking solace.
A report in early January citing unnamed sources gave the acquisition of RS Energy Group by Enverus, formerly Drillinginfo, a roughly $1 billion valuation.
Pearl Energy Investments and Natural Gas Partners agreed to partner with Eagle Mountain Energy Partners to support the newly formed E&P’s strategy focused primarily in the Williston Basin.
Exxon Mobil and Diamondback Energy are among the companies studying a possible acquisition of Guidon Energy, three sources said.
The Alta Mesa transaction represents the sixth acquisition by partnerships between Tom Ward-led Mach Resources and private equity firm Bayou City Energy Management.
BlackGold Capital said 72% of the net royalty acres in the acquired portfolio are leased by operators in the top quartile of active horizontal rig counts in the Midland Basin.