One-Page Deal Sheet
Colony Capital Inks $320MM JV Deal with California Resources
Colony Capital California Resources Corp.
Announced Date
July 23,2019
Transaction Type
JV
Enterprise Value (EV)($MM)
320
Asset/Basin:
{"San Joaquin Basin"}
Transaction Details: Require Private Equity Subscription
California Resources Corp. and Colony Capital Inc. have formed a strategic joint venture in which Colony has committed to fund $320 million for the development of CRC's flagship Elk Hills field, located in the San Joaquin Basin.
Subject to the mutual agreement of the parties, the total investment may be increased to $500 million.
Colony will fund 100% of the development wells and will earn a 90% working interest.
The initial investment commitment will cover multiple development opportunities throughout the Elk Hills field and is intended to be invested over approximately three years in…
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-07-2024 |
-  |
- |
Click here | California | E&P |
| May-19-2022 |
- |
- |
Click here | California | E&P |
| May-21-2019 |
- |
- |
Click here | California | E&P |
| May-01-2018 |
- |
- |
Click here | California | E&P |
| Apr-10-2018 |
- |
- |
Click here | California | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| May-21-2019 | Yuma Energy Sells California Assets as it Looks to Pay Down Debt | - |
- |
| Apr-10-2018 | California Resources Acquires San Joaquin Assets from Chevron | - |
- |
| May-24-2017 | LINN Unloads San Joaquin Basin Assets for $263 Million | - |
- |