NGP Energy Capital Management is considering selling Camino Natural Resources, a major private natural gas producer, in a deal that could be worth around $2bn, including debt.
RBC Capital Markets has been hired to oversee the auction, which started earlier this month.
A final sale is not certain, and NGP may decide to retain ownership. Neither NGP nor Camino have commented, while RBC has declined to address the matter.
The potential transaction follows a wave of energy sector M&A activity, though analysts expect deal flow to slow in 2025 as consolidation among private oil and gas firms nears completion.
Camino spans 135,000 net acres and is projected to generate $700m in core earnings next year. The company produces an average of 81,000 barrels of oil equivalent per day, with natural gas making up roughly 50% of its output. As market conditions evolve, the sale of Camino could attract interest from major energy players looking to expand their natural gas portfolios.
Source: Reuters
If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.
Can’t stop reading? Read more
Sycamore secures $10bn deal for Walgreens Boots Alliance as shareholders greenlight takeover
Sycamore secures $10bn deal for Walgreens Boots Alliance as shareholders greenlight takeover...
Clessidra launches €200m Green Harvest fund to back Italy’s agrifood champions
Clessidra launches €200m Green Harvest fund to back Italy’s agrifood champions Clessidra Private...
Eurazeo to exit CPK Group in €240m deal with Ferrara holding company
Eurazeo to exit CPK Group in €240m deal with Ferrara holding company Eurazeo has entered exclusive...