Equity firm set to sell US oil and gas assets
HOUSTON, April 10, 2023 – EnCap Investments is pursuing the sale of two Permian basin-based oil and gas companies for almost USD 3 billion, Reuters reported on Thursday.
The Texas-based equity firm is looking to sell Novo Oil & Gas Holdings and Forge Energy II, which are estimated to be worth USD 2 billion and USD 600 million respectively.
Novo Oil & Gas Holdings produces around 60,000 bopd from land covering 68.8 square kilometres in northern Delaware.
Forge Energy II produces around 14,000 bopd from an area covering 161 square kilometres in southern Delaware.