One-Page Deal Sheet
Crescent Energy Inks $690MM Cash Deal for EP Energy's Uinta Assets
Crescent Energy Company EP Energy Corp, Verdun Oil Company LLC
Announced Date
February 16,2022
Effective Date
January 01,2022
Close Date
March 30,2022
Transaction Type
Property
Enterprise Value (EV)($MM)
690
Asset/Basin:
["Uinta Basin"]
TargetZones:
["Uteland Butte", "W
Net Acres
% Oil:
PDP PV-10 ($MM)
PV-10 ($MM)
Location
Calculated Metrics( EV/Category)
Region
Rockies - Piceance/Uinta
Country
United States
State
Utah
County
Duchesne ,Uintah
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Residual Metrics Residual Value
Transaction Details: Require Private Equity Subscription
Crescent Energy Co. has entered into a definitive purchase agreement with Verdun Oil Company II LLC to acquire Uinta Basin assets previously owned by EP Energy for $690 million in cash.
This deal closed on March 30, 2022.
Crescent is backed by KKR and Verdun is backed by EnCap Investments.
The all-cash transaction, expected to close in the first half of 2022, will be funded through the company's revolving credit facility and cash on hand.
Deal Details: Acreage: 145,000 net acres in Duchesne and Uintah counties, Utah (83% WI, 100% operated) Wells: 400 Production: ~22,000 BOEPD (65% oil)| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Apr-10-2025 |
-  |
- |
Click here | Colorado | E&P |
| Nov-14-2024 |
- |
- |
Click here | Utah | E&P |
| Aug-20-2024 |
- |
- |
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| Jun-27-2024 |
- |
- |
Click here | Utah | E&P |
| Jul-06-2022 |
- |
- |
Click here | Montana | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Aug-20-2024 | Quantum Backed-Koda Resources, QB Energy Gets Caerus Oil Assets For $1.8 Billion | - |
- |
| Jun-27-2024 | SM Energy, Northern To Acquire PE-Backed XCL Resources | - |
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| Sep-03-2019 | Crescent Point Exits the Uinta in Deal Worth $525 Million | - |
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