Looking to build a long-term company in a solid basin with good full-cycle margins, this new E&P chose the Ohio Utica with a $2 billion deal. How does it plan to maximize its 900,000 acres?
SPEAKER:
- Ray Walker, COO of Encino Energy LLC
Last summer, Encino Energy unveiled the $2 billion-cash acquisition of all of Chesapeake Energy Corp.’s position in the Utica Shale of Ohio. Encino’s purchase, supported with funding from Canada Pension Plan Investment Board, included more than 900,000 net acres and roughly 900 producing wells in the Buckeye State.
The Chesapeake transaction closed late October 2018 and set Encino up to be more than twice the size of the next two to three acreage holders in Ohio, according to Walker. He estimates Encino has over 2,000 economic drilling locations and the company plans to focus on building a sustainable business over the next couple of years that generates free cash flow.
Related:
Recommended Reading
J.P. Morgan, Capital One Commit $260MM to Arizona Solar Project
2024-10-15 - Arizona’s Box Canyon solar project secured a $260 million tax-equity financing commitment from Capital One and an affiliate of J.P. Morgan.
Dividends Declared (Sept. 30 - Oct. 11, 2024)
2024-10-11 - Here is a compilation of dividends and distributions declared from select upstream, midstream and service and supply companies from Sept. 30 to Oct. 11.
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
2024-10-11 - As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
Mexico Pacific Working with Financial Advisers to Secure Saguaro LNG I FID
2024-10-23 - Mexico Pacific is working with MUFG, Santander and JP Morgan to arrange the financing needed to support FID and the anchor phase of Saguaro Energía LNG.
US Energy Secretary Nominee Chris Wright Champions Energy at DUG GAS
2024-11-19 - President-elect Donald Trump's energy secretary nominee Chris Wright championed energy's role in bettering human lives earlier this year on stage at Hart Energy’s DUG GAS Conference and Expo.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.