Jack Vaughn 领导的 Peak Resources 申请 Powder River Basin 首次公开募股

文件显示,由行业资深人士 Jack E. Vaughn 领导的 Powder River Basin E&P 公司 Peak Resources LP 正在为 IPO 做准备。

Peak Resources LP是一家由行业资深人士 Jack E. Vaughn 领导的勘探与生产公司,该公司正在为在 Powder River Basin 进行 IPO 做准备。

9 月 16 日,Peak 向美国证券交易委员会提交了 S-1 注册声明。Peak 尚未确定其 IPO 定价范围,也未披露其打算发行多少股。

截至六月底,总部位于科罗拉多州杜兰戈的 Peak 公司在 Power River 拥有约 45,000 净英亩(65,000 总英亩)的土地,主要位于怀俄明州坎贝尔县和康弗斯县。

该公司已在包括私人、州和联邦土地在内的整个油田范围内钻探了 56 口净水平井(总计 104 口)。Peak 还拥有该盆地内另外五口净水平井(总计 83 口)的权益,这些油田由EOG ResourcesDevon EnergyAnschutz ExplorationBallard Petroleum运营。

该公司在文件中表示:“我们对这些未运营油井的少量工作权益使我们能够以相对较小的成本了解其他运营商的技术和进步。”

根据美国证券交易委员会的文件,自 2012 年 Cinco Resources 提交 S-1 申请以来,Peak 的 IPO 计划是 E&P 公司首次提出的包含大量 Powder River 股份的 IPO 计划。Cinco 于 2013 年撤回了该计划,并于 2015 年被 Riley Exploration Group 收购

截至 6 月 30 日的 12 个月内,Peak 平均产量为 2,749 桶油当量/天,其中原油产量为 1,606 桶/天。

Peak 的目标是到 2025 年将产量提高到平均约 4,700 桶油当量/天。

Peak 已确定了 530 个净水平位置(总计 1,770 个),用于未来钻探。该公司表示,其目标是 Parkman、Shannon、Turner、Niobrara 和 Mowry 储层。Peak 最积极地开发了 Mowry 和 Niobrara 层段。

在 10% 的内部收益率下,该公司估计 244 个净位置在 55 美元/桶和 1.85 美元/百万英热单位时具有经济效益,而 400 多个净位置在 70 美元/桶和 2.36 美元/百万英热单位时具有经济效益。

该公司表示,“如果我们将目前的开发节奏从每年8口总井增加到每年24口总井(即每年一座全职钻机),那么按照上述较低定价假设中的658个总位置(244个净位置),我们的库存仍可维持27年。”

Peak Resources 得到了Yorktown Energy Partners和 HarbourVest Partners 的支持。


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资深领导

领导 Peak Resources 的沃恩是美国页岩行业的资深人士,在该行业拥有近五十年的经验。

沃恩是 Peak 董事长兼首席执行官,他于 2011 年创立了 Peak,这是他在巴奈特页岩、巴肯和阿纳达科盆地 Granite Wash 油田建立和转手创业公司之后的第四家 Peak E&P 公司。此前,他曾在EnerVest Management Partners工作,并为其和GE Capital Oil & Gas运营圣胡安盆地煤层气资产。他的职业生涯始于 1968 年,当时就职于阿莫科石油公司(现为BP旗下子公司)

沃恩曾任Bonanza Creek Energy董事会成员,该公司是总部位于科罗拉多州的 E&P Civitas Resources的前身。

Peak 总裁兼首席运营官 Glen Christiansen在 2011 年加入 Peak 之前曾在落基山脉地区的XTO Energy工作。

首席财务官贾斯汀沃恩(Justin Vaughn)曾就职于一家投资者关系管理公司和普华永道

企业发展和战略总监 Ali Kouros 曾担任Jefferies & Co.顾问以及BlackstoneEIG Global Energy Partners能源投资经理

董事会成员包括 Yorktown 创始人兼高级经理 Bryan H. Lawrence 以及投资者 Oakcliff Partners 创始人兼 Yorktown 成员 Bryan R. Lawrence。

董事候选人是投资公司 Wellington Management 的退休合伙人 Greg LeBlanc 和 Kestrel Heat 的创始人 Paul Vermylen Jr.。

另外,专注于巴奈特页岩气的 E&P BKV Corp.于 9 月 16 日启动了其期待已久的 IPO,发行 1500 万股股票

这家天然气生产商预计其 IPO 发行价为每股 19 至 21 美元,募资额在 2.85 亿美元至 3.15 亿美元之间。BKV 的 IPO 预计将于 9 月 26 日开始交易。

Hart Energy 特约编辑 Nissa Darbonne 对本文亦有贡献。


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粉末中的粉末:Matthew Phillips,Samson Resources II;Jack Vaughn,Peak Exploration & Production(2018 年)

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Jack Vaughn-Led Peak Resources Files for Powder River Basin IPO

Peak Resources LP, a Powder River Basin E&P led by industry veteran Jack E. Vaughn, is positioning itself for an IPO, filings show.

Peak Resources LP, an E&P led by industry veteran Jack E. Vaughn, is positioning itself for an IPO in the Powder River Basin.

Peak filed an S-1 registration statement with the U.S. Securities and Exchange Commission on Sept. 16. Peak has not yet priced its IPO range or disclosed how many shares it intends to offer.

Durango, Colorado-based Peak held approximately 45,000 net (65,000 gross) acres in the Power River at the end of June, primarily within Campbell and Converse counties, Wyoming.

The company has drilled 56 net (104 gross) producing horizontal wells across the acreage position, which includes private, state and federal lands. Peak also owns interests in another five net (83 gross) non-operated horizontal wells in the basin operated by EOG Resources, Devon Energy, Anschutz Exploration, and Ballard Petroleum.

“Our small working interest in these non-operated wells allows us the benefit of ascertaining other operators’ techniques and advances at a relatively small cost,” the company said in its filing.

Peak's IPO plan is the first by an E&P that includes significant Powder River holdings since Cinco Resources filed an S-1 in 2012, according to SEC files. Cinco withdrew the plan in 2013 and was acquired in 2015 by Riley Exploration Group.

For the 12 months ended June 30, Peak averaged 2,749 boe/d, including 1,606 bbl/d of crude oil production.

Peak aims to boost production to an average of approximately 4,700 boe/d during 2025.

Peak has identified 530 net (1,770 gross) horizontal locations for future drilling. The company said it would target the Parkman, Shannon, Turner, Niobrara and Mowry reservoirs. Peak has been most actively developing the Mowry and Niobrara intervals.

At a 10% IRR, the company estimates 244 net locations are economic at $55/bbl and $1.85/MMBtu, and over 400 net locations are economic at $70/bbl and $2.36/MMBtu.

“…If we increase our current development cadence from eight gross wells per year to 24 gross wells per year (i.e., one full-time rig per year), our inventory would still span 27 years using the 658 gross (244 net) locations from the lower pricing assumptions above,” the company said.

Peak Resources is backed by Yorktown Energy Partners and HarbourVest Partners.


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Veteran leadership

Vaughn, who leads Peak Resources, is a veteran of the U.S. shale industry with nearly five decades of experience in the sector.

Vaughn, chairman and CEO, founded Peak in 2011, his fourth Peak E&P after building and flipping startups in the Barnett Shale, the Bakken and the Anadarko Basin’s Granite Wash play. Previously, he worked at EnerVest Management Partners and operated San Juan Basin coalbed methane property for it and GE Capital Oil & Gas. He began his career in 1968 with Amoco Oil, now part of BP.

Vaughn served on the board of Bonanza Creek Energy, a predecessor company of Colorado-based E&P Civitas Resources.

Peak president and COO Glen Christiansen worked the Rockies region for XTO Energy before joining Peak in 2011.

CFO Justin Vaughn was previously with an investor-relations management firm and PricewaterhouseCoopers.

Ali Kouros, corporate development and strategy director, was an advisor to Jefferies & Co. and an energy investment manager for Blackstone and EIG Global Energy Partners.

Board members include Bryan H. Lawrence, Yorktown founder and senior manager, and Bryan R. Lawrence, founder of investor Oakcliff Partners and a Yorktown member.

Director nominees are Greg LeBlanc, retired partner of investment firm Wellington Management, and Paul Vermylen Jr., a founder of Kestrel Heat.

Separately, Barnett shale-focused E&P BKV Corp. launched its long-awaited IPO for 15 million shares on Sept. 16.

The natural gas producer expects to price its IPO at between $19 and $21 per share, with proceeds ranging between $285 million and $315 million. The BKV IPO is expected to begin trading Sept. 26.

Hart Energy Editor-at-large Nissa Darbonne contributed to this article.


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Powdered Up In The Powder: Matthew Phillips, Samson Resources II; Jack Vaughn, Peak Exploration & Production (2018)

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