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Reports: DoublePoint Energy Facing Potential Sale; Could Fetch $5.0B
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The PE backers of DoublePoint Energy are looking into a potential sale of the Permian-focused company, according to a report by Reuters.
DoublePoint was established in mid-2018 as a result of the combination of Double Eagle Energy Holdings III and FourPoint Energy.
In June 2018, DoublePoint landed an undisclosed investment from GSO Capital and Quantum Energy Partners. Apollo Global Management and Blackstone also have a stake in the company.
Sources indicate that a sale of DoublePoint could fetch up to $5.0 billion (including debt). The PE firms intend to begin taking offers in mid-2019. Its assets are located in the Midland Basin area of the Permian.
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