Diamondback Energy 以 17.5 亿美元完成 FireBird 收购

Diamondback Energy 的 FireBird 交易是该公司第四季度宣布的在米德兰盆地价值数十亿美元的两项收购的一部分。

哈特能源员工

Diamondback Energy Inc.董事长表示,该公司于11月30日完成了对FireBird Energy LLC近20亿美元的收购,在Diamondback位于米德兰盆地的后院增加了“大量、高质量的库存”。兼首席执行官特拉维斯·斯蒂斯。

FireBird 总部位于德克萨斯州沃思堡,在米德兰盆地运营着 450 多个垂直井和水平井。Diamondback 于 10 月 11 日宣布同意以现金加股票的方式收购这家私营运营商,交易价值约为 16 亿美元。

根据最近的投资者介绍,FireBird 交易的价值已增至 17.5 亿美元。

Diamondback 的 FireBird 交易是该公司第四季度宣布的米德兰盆地两项收购的一部分。

除了 FireBird 之外,Diamondback 还同意于11 月 16 日以现金加股票的方式收购 Lario Permian LLC,价值 15.5 亿美元。Diamondback 总共花费了约 33 亿美元来扩大其在米德兰盆地的地位。


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Diamondback 在 Lario 和 FireBird 交易中展示了 33 亿美元的股权实力


FireBird Energy LLC 得到 RedBird Capital Partners 和安大略省教师养老金计划的支持。据 FireBird 网站称,该公司的大部分投资组合是在 FireBird 成立时从雪佛龙公司 (Chevron Corp.) 收购的。

该公司由首席执行官 Travis F. Thompson 领导,他于 2019 年创立了 FireBird。Thompson 在石油和天然气行业拥有 20 多年的经验,之前是 Torch Operating LLC 的联合创始人。

Diamondback在 10 月份的新闻稿中表示,收购 FireBird 将在德克萨斯州西部米德兰盆地增加约 75,000 总面积(净面积 68,000 英亩)高度连续的土地。该区域的运营率为 98.5%,平均使用率为 92%,目前 HBP 为 84%。

FireBird 资产还包括主要开发目标中的 353 个估计总水平位置(净值 316 个),平均横向长度约为 11,400 英尺,Stice 在 10 月份还指出,这些位置毗邻 Diamondback 目前的米德兰盆地位置。

根据该公司发布的信息,主要目标是 Middle Spraberry、Lower Spraberry、Wolfcamp A 和 Wolfcamp B 地层。

“这项资产按照我们预期的发展速度增加了十多年的库存,包括在响尾蛇当前的开发计划中立即争夺资本的库存,”他在 10 月份的新闻稿中表示。

Diamondback 预计 FireBird 资产预计在第四季度末结束时将增加约 17,000 桶/天的石油产量,即 22,000 桶油当量/天。预计到 2023 年,FireBird 资产的平均产量约为 19,000 桶/天,即 25,000 桶油当量/天。

除了同意收购 FireBird 之外,Diamondback 还在 10 月公布了到 2023 年底出售至少 5 亿美元非核心资产的目标。

到目前为止,Diamondback 已以 1.55 亿美元的价格出售了特拉华盆地约 3,250 净英亩的土地,作为其剥离目标的一部分。剥离收益专门用于进一步削减债务,以支持这家总部位于德克萨斯州米德兰的公司回报股东的承诺。

凯易律师事务所 (Kirkland & Ellis LLP) 担任 Diamondback 本次交易的法律顾问。Akin Gump Strauss Hauer & Feld LLP 和 Weil, Gotshal & Manges LLP 担任 FireBird 及其附属公司的法律顾问。加拿大皇家银行资本市场 (RBC Capital Markets) 和高盛 (Goldman Sachs & Co. LLC) 是 FireBird 的首席财务顾问。

原文链接/hartenergy

Diamondback Energy Completes FireBird Acquisition for $1.75 Billion

Diamondback Energy’s FireBird transaction is part of a duo of billion-dollar acquisitions in the Midland Basin the company announced in the fourth quarter.

Hart Energy Staff

Diamondback Energy Inc. completed its nearly $2 billion-dollar acquisition of FireBird Energy LLC on Nov. 30, adding “significant, high-quality inventory” right in Diamondback’s backyard of the Midland Basin, according to the company’s chairman and CEO, Travis Stice.

Based in Fort Worth, Texas, FireBird operates over 450 vertical and horizontal wells in the Midland Basin. Diamondback announced its agreement to acquire the private operator on Oct. 11 in a cash-and-stock transaction valued at roughly $1.6 billion.

The value of the FireBird transaction has since increased to $1.75 billion, according to a recent investor presentation.

Diamondback’s FireBird transaction is part of a duo of acquisitions in the Midland Basin the company announced in the fourth quarter.

In addition to FireBird, Diamondback also agreed to acquire Lario Permian LLC on Nov. 16 in a cash-and-stock transaction valued at $1.55 billion. In total, Diamondback is spending roughly $3.3 billion to expand its position in the Midland Basin.


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Diamondback Flexes Equity Muscles in $3.3 Billion Lario, FireBird Deals


FireBird Energy LLC is backed by RedBird Capital Partners and Ontario Teachers’ Pension Plan. A bulk of the company’s portfolio was acquired from Chevron Corp. around the time of FireBird’s founding, according to its website.

The company is led by CEO Travis F. Thompson, who founded FireBird in 2019. Thompson has more than 20 years of experience in the oil and gas industry and previously co-founded Torch Operating LLC.

In its October release, Diamondback said the acquisition of FireBird will add approximately 75,000 gross (68,000 net) highly contiguous acres in the Midland Basin in West Texas. The acreage is 98.5% operated with an average 92% working interest and is currently 84% HBP.

The FireBird asset also includes 353 estimated gross (316 net) horizontal locations in primary development targets with an average lateral length of approximately 11,400 ft, which Stice also noted in October is adjacent to Diamondback’s current Midland Basin position.

Primary targets are the Middle Spraberry, Lower Spraberry, Wolfcamp A and Wolfcamp B formations, according to the company release.

“This asset adds more than a decade of inventory at our anticipated development pace, including inventory that competes for capital right away in Diamondback’s current development plan,” he said in the October release.

Diamondback expects the FireBird asset to add roughly 17,000 bbl/d of oil, or 22,000 boe/d, of production at closing, expected late in the fourth quarter. Production from the FireBird asset is estimated to average about 19,000 bbl/d of oil, or 25,000 boe/d, in 2023.

Alongside its agreement to acquire FireBird, Diamondback also unveiled a target in October to sell at least $500 million of noncore assets by year-end 2023.

So far, Diamondback has sold about 3,250 net acres in the Delaware Basin for $155 million as part of its divestiture target. Divestiture proceeds are earmarked for further debt reduction, to support the Midland, Texas-based company’s pledge to reward shareholders.

Kirkland & Ellis LLP is legal adviser to Diamondback for the transaction. Akin Gump Strauss Hauer & Feld LLP and Weil, Gotshal & Manges LLP are serving as legal advisers to FireBird and its affiliates. RBC Capital Markets and Goldman Sachs & Co. LLC are lead financial advisers to FireBird.