Nicholas Bilodeau, senior vice president of Intrepid Partners LLC, is today’s featured Forty Under 40 honoree.
Bilodeau has executed dozens of deals, but he’s never encountered one quite like the sale of Energy XXI Gulf Coast Inc. The complicated transaction posed numerous challenges. Nevertheless, Bilodeau was ultimately able to execute the $473 million sale to Cox Oil in October 2018.
“We were able to pull a number of different levers and transactions to put together a sale that delivered significant value to the shareholders versus the standalone plan,” he said. “Every day it felt like there was a new challenge, but our team and the Energy XXI management team worked together to successfully solve what was a very challenging problem.”
Bilodeau began his career as an investment banking analyst with Barclays Investment Bank and later worked as a director at UBS Investment Bank.
In 2017, Bilodeau joined Intrepid Partners—the advisory arm of energy-focused merchant bank Intrepid Financial Partners LLC—during its formative years, and he helped facilitate its growth into one of the industry’s leading advisers.
Output at the largest formation, the Permian Basin of Texas and New Mexico, is expected to rise 57,000 bbl/d to 4.73 MMbbl/d.
Drillers cut seven oil rigs in the week to Nov. 8, bringing down the total count to 684, the lowest since April 2017, Baker Hughes said in its weekly report.
A majority of the drop in production came as federal offshore Gulf of Mexico production slid about 332,000 bbl/d to 1.58 MMbbl/d, the data showed.