Eagle Oil Holding Company Inc. has announced the formal signing of a new letter of intent (LOI) with Nitro Capital Partners to provide operations on the East Texas field with a farm-out agreement.
The company plans to restart oil pumping operations at its East Texas oil field by partnering with Nitro and an experienced oil field service company on a specific well by well procedure. Nitro would provide the necessary capital and resources to restore oil pumping operations with no additional capital investment by Eagle Oil. The company would use an independent operator to get the field into production. Nitro would share in the revenue generated by the field production.
Nitro is affiliated with a German consortium that has been desirous of entering the US market in oil and gas production and can provide new sources of developmental capital to Eagle Oil.
Recommended Reading
BKV Prices IPO at $270MM Nearly Two Years After First Filing
2024-09-25 - BKV Corp. priced its common shares at $18 each after and will begin trading on Sept. 26, about two years after the Denver company first filed for an IPO.
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
Silver Hill Closes Fourth Oil, Gas Fund with $1.13B in Commitments
2024-07-31 - Silver Hill’s portfolio consists of operations across 55,000 net acres in East Texas and North Louisiana and 86,000 net acres in North Dakota.
Exclusive: How E&Ps Yearning Capital can Stand Out to Family Offices
2024-10-15 - 3P Energy Capital’s Founder and Managing Partner Christina Kitchens shares insight on the “educational process” of operators looking at opportunities in the U.S. and how E&Ps looking for capital can interest family offices, in this Hart Energy Exclusive interview.
Quantum’s VanLoh: New ‘Wave’ of Private Equity Investment Unlikely
2024-10-10 - Private equity titan Wil VanLoh, founder of Quantum Capital Group, shares his perspective on the dearth of oil and gas exploration, family office and private equity funding limitations and where M&A is headed next.