Click here to close now.




















Welcome!

News Feed Item

FourPoint Energy and EnerVest Agree to Partner in the Anadarko Basin and FourPoint Announces over $1 Billion in Equity and Debt Financing

DENVER, Jan. 30, 2014 /PRNewswire/ -- FourPoint Energy, LLC announced today the acquisition of certain producing and undeveloped oil and gas properties and related midstream assets in the Western Anadarko Basin from affiliates of EnerVest, Ltd. Under the terms of the agreement, FourPoint Energy has purchased for $268 million an ownership stake in both the Laredo Petroleum and SM Energy acquisitions closed by EnerVest in the second half of 2013.  The acquisition includes interest in over 1,200 producing wells with net production to FourPoint Energy of over 35 MMcfed.  

(Logo: http://photos.prnewswire.com/prnh/20140130/LA56528LOGO)

FourPoint Energy and EnerVest have also entered into a Joint Development Agreement and Area of Mutual Interest Agreement to own, operate and develop oil and gas properties in the Western Anadarko Basin. Each company will hold a 50% interest in the AMI and EnerVest is designated as operator. The companies hold a strong acreage position with over 90,000 net acres in one of the most prolific multi-pay regions of the country. The companies will share all future lease and producing property acquisitions within the joint development area, encompassing 14 counties in Texas and Oklahoma and will work together as partners to advance an aggressive acquisition and development plan. 

The partnership combines the extensive technical, operational, and transactional expertise of both companies while launching a well-capitalized venture to capture future opportunities through acquisitions and the drill bit. "This is a strategic partnership that marries the strengths of both companies and the FourPoint team couldn't be more excited to be working with such a quality team of professionals at EnerVest," said George Solich, President and CEO of FourPoint Energy. 

This will be the first entry back into the Western Anadarko Basin for FourPoint Energy since the sale of their previous company, Cordillera Energy Partners to Apache Corporation in 2012.  "Launching this new venture and simultaneously returning to this area provides an advantage for optimal value creation for our investors," said Tad Herz, Executive Vice President and CFO.

This fourth enterprise led by George Solich and the core leadership team from Cordillera will possess the same performance driven, opportunistic, goal-oriented culture. Building on the experience of three successful companies in 12 years, FourPoint Energy will direct its initial focus to the core areas of the Western Anadarko and Permian Basins.  "The Permian Basin offers multi-stacked pays with extensive vertical well control with industry transitioning to a more robust horizontal development model," said Kamil Tazi, Executive Vice President and COO.

Simultaneous with the EnerVest transactions, FourPoint Energy raised over $1 billion of committed capital including $200 million in direct private equity and $800 million in term debt from EIG Global Energy Partners, LLC and funds advised by GSO Capital Partners, LP. In addition, FourPoint Energy also entered into a $250 million credit facility with JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A. 

The debt and equity securities have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.  

FourPoint Energy is a privately held acquisition, exploration and production company headquartered in Denver, CO. Join our team at FourPointEnergy.com.

Jefferies LLC acted as sole financial advisor, JPMorgan Securities, LLC acted as sole lead arranger and book runner on the credit facility and Andrews Kurth LLP acted as legal advisor to FourPoint Energy in connection with this transaction.

CONTACT:
Jenna Samek
FourPoint Energy, LLC
303.785.1564  

SOURCE FourPoint Energy, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
eCube Systems has released NXTmonitor, a full featured application orchestration solution. NXTmonitor, which inherited the code base of NXTminder, has been extended to support multi-discipline processes and will act as a DevOps utility in a heterogeneous enterprise environment. Previously, NXTminder was packaged with NXTera middleware to configure and manage Entera and NXTera RPC servers. “Since we are widening the focus of this solution to DevOps, we felt the need to change the name to NXTmon...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Com...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Moving an existing on-premise infrastructure into the cloud can be a complex and daunting proposition. It is critical to understand the benefits as well as the challenges associated with either a full or hybrid approach. In his session at 17th Cloud Expo, Richard Weiss, Principal Consultant at Pythian, will present a roadmap that can be leveraged by any organization to plan, analyze, evaluate and execute on a cloud migration solution. He will review the five major cloud transformation phases a...