TOP 10 PRIVATE GAS PRODUCERS
Rank Company Gas (Mcf)
1 1 Hilcorp Energy Co. 285,300,761
2 2 Chief Oil & Gas LLC 277,633,353
3 4 Samson Investment Co. 174,566,044
4 6 Merit Energy Co. 113,064,655
5 5 Mewbourne Oil Co. 88,198,089
6 14 J-W Operating Co. 75,026,525
7 3 LLOG Exploration Co. LLC 63,501,771
8 7 Yates Petroleum Corp. 60,508,247
9 11 Templar Energy LLC 57,892,742
10 22 Indigo Minerals LLC 53,810,235
TOP 10 PRIVATE LIQUIDS PRODUCERS
Rank Company Liquid (bbl)
1 3 LLOG Exploration Co. LLC 25,553,621
2 1 Hilcorp Energy Co. 14,232,853
3 5 Mewbourne Oil Co. 13,529,503
4 13 Citation Oil & Gas Corp. 11,343,937
5 10 Petro-Hunt Group 10,485,355
6 19 Slawson Exploration Co. Inc. 9,422,908
7 17 Hunt Oil Co. 9,328,437
8 9 Endeavor Energy Resources LP 8,983,929
9 6 Merit Energy Co. 8,836,416
10 12 Sheridan Production Co. LLC 8,634,780
Private company update
MIKAILA ADAMS, EDITOR – OGFJ
INDEPENDENT RESEARCH FIRM IHS has provided OGFJ
with updated production data for the OGFJ100P periodic
ranking of US-based private E&P companies. The rankings
are based on operated production only within the US.
While only a slight drop, a slip from No. 8 to No. 10 makes
Petro-Hunt the biggest mover in the Top 10 by total BOE
production when comparing this OGFJ100P to the previous
installment in April. The list of the Top 10 private gas producers remained relatively unchanged with movements of one
spot in either direction. The Top 10 private liquids producers
list remained largely intact, but it’s worth noting that Sheridan
Production Co. LLC (ranked No. 12 by overall BOE production)
broke through to land at the No. 10 spot, pushing Yates Petroleum (ranked No. 7 by overall BOE production) out of the
list of top liquids producers.
Deal-making is trending upward in the oil and gas space, and
privately-held companies are in on the action. In fact, recent
analysis by Evaluate Energy detailed the large impact privately-held companies had on the US upstream oil and gas industry
in recent months. The analysis showed that US-based private
companies were on the purchasing end of deals valued at $3.5
billion during the first quarter of 2016.
Once such deal was Covey Park’s acquisition of Haynesville
and Bossier assets. Covey Park Gas LLC, a subsidiary of Dallas,
Texas-based Covey Park Energy LLC, agreed to purchase assets
in the Haynesville and Bossier shales from subsidiaries of EP
Energy Corp. for $420 million. The deal was announced in
March, and is expected to close in the second quarter of 2016.
The assets, primarily located in Louisiana’s DeSoto and Bossier
Parishes, consist of approximately 52,933 gross 34,167 net acres
with Q4 2015 average production of 113 MMcf/d. Pro forma for
the acquisition, Covey Park will own approximately 196,000
gross (137,000 net) acres of leasehold in Texas and Louisiana.
Daily net production will increase to approximately 200MMcf/
day. Total proved reserves will be approximately 2 TCF.
Covey Park Energy is primarily focused on the acquisition
and exploitation of long-life reserves in the Ark-La-Tex and
Mid-Continent regions and was formed in June 2013 with an
equity commitment from Denham Capital.
Privately-held companies have been active in the second
quarter, as well.
In May, Denver, CO-based Hawkwood Energy LLC noted
that its wholly-owned subsidiary, Hawkwood Energy East
Texas LLC, acquired producing and non-producing assets
primarily in Leon and Madison counties in Texas. Terms were
not disclosed. The newly acquired assets consist of producing
wells with combined production of approximately 500 bo/d
primarily from the Eagle Ford zone, along with undeveloped
leasehold. The properties are immediately contiguous and
complementary to Hawkwood’s existing East Texas properties.
With the addition of the newly-acquired properties, Hawkwood
produces approximately 4,000 bo/d from 76 wells, which in-
cludes Woodbine, Buda, and Eagle Ford production, and holds
in excess of 100,000 net acres of undeveloped leasehold pri-
marily prospective for Woodbine and Eagle Ford.
Patrick Oenbring, chairman and CEO of Hawkwood said
the company continues to seek additional similar opportuni-
ties to acquire quality East Texas assets.
Hawkwood Energy commenced operations in 2012 and is
funded with a line-of-equity commitment of $500 million from
lead investors Warburg Pincus and Ontario Teachers’ Pension