NGP Energy Capital Management is reportedly exploring the divestment of Camino Natural Resources, with a valuation that is expected to reach approximately $2bn.
Citing sources familiar with the matter, Reuters reported that NGP is working with RBC Capital Markets to auction Camino’s assets and that a sale is not yet guaranteed.
These sources, who wished to remain anonymous due to the confidentiality of the discussions, have also stated that neither NGP nor Camino has offered any comments, and RBC has declined to comment.
Camino, an independent oil and natural gas producer in Oklahoma’s Anadarko basin, operates in an area of around 135,000 net acres.
In 2025, Camino’s core earnings are projected at $700m, with output averaging 81,000 barrels of oil equivalent per day, about half of which is natural gas.
The energy industry has seen a record-breaking phase of consolidation, which is expected to persist in 2025, turning focus to more mature plays such as the Anadarko basin.
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By GlobalDataThe shift of focus from the Permian Basin of Texas and New Mexico to other energy plays is attributed to rising competition and higher acreage prices.
In a recent transaction, Diversified Energy announced a $1.3bn acquisition of assets in both the Anadarko and Permian basins from Maverick Natural Resources.
With technological advancements in the late 1950s, Anadarko Basin wells began to be drilled below the 13,000ft level in what geologists claim the deep gas play.
Several gas wells have been drilled below the 20,000ft range, including the Lone Star Bertha Rogers in Beckham County.
