Carrier Energy Partners II LLC has closed a sale of its non-operated working interests in the Eagle Ford Shale, marking a full exit from the play and a divestiture of its remaining assets.
Carrier Energy sold its non-operated working interests in Karnes County, Texas, to an undisclosed buyer in two transactions totaling cash consideration of $145 million, including closing adjustments.
The Eagle Ford transactions represent a full divestiture of the company's existing assets. The company previously sold assets in the Permian Basin in 2017 and 2019.
Although minor compared to recent M&A in the shale play, the deal continues a broader trend of transactions in the Eagle Ford, including Baytex Energy Group’s Feb. 28 announcement that it would buy Ranger Oil Corp. for about $2.5 billion in cash and stock.
Chesapeake Energy has also announced two Eagle Ford divestitures this year: a $1.425 billion deal to sell its Brazos Valley assets to Wildfire Energy I LLC and, more recently, $1.4 billion deal with INEOS Energy. In 2022, Marathon Oil Corp. and Devon Energy Corp. also made deals totaling $4.8 billion.
Carrier Energy was founded in 2013 by Mark Clemans and Christina Chen with equity funding from Riverstone Holdings, an asset management firm that invests in the private markets primarily within energy, power and infrastructure.
Forty Under 40: Christina Chen, Carrier Energy Partners
Carrier Energy initially participated in two joint ventures targeting development of oil and gas assets in the Delaware Basin and in a legacy conventional field located in South Texas.
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