One-Page Deal Sheet
PE-Backed Colgate Acquires Oxy's Permian Property for $500 Million
Colgate Energy Partners III LLC Occidental Petroleum Corp
Announced Date
June 10,2021
Effective Date
April 01,2021
Close Date
July 29,2021
Transaction Type
Property
Enterprise Value (EV)($MM)
508
Asset/Basin:
{Permian,"Delaware Basin"}
Net Acres
% Oil:
EbitDAX : Ebitdax_multple
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
Texas
County
Reeves ,Ward
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Colgate Energy Partners III announced that it is acquiring 25,000 net acres and 10,000 Boepd in Reeves and Ward Counties, TX from Occidental Petroleum for ~$508 million.
The effective date of the transaction is April 1, 2021, with closing expected to occur in Q3 of 2021. The company anticipate increasing its rig count up to 5-6 rigs by the end of 2021.
Deal Details: Acreage: ~25,000 net acres adjacent to Colgate’s existing position in Reeves and Ward Counties Acreage is ~99% operated; ~99% held by production; ~82% average working interest; ~79% 8/8ths NRI Production: Current average…Permian - Delaware Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-10-2026 |
-  |
- |
Click here | Texas | E&P |
| Sep-02-2025 |
- |
- |
Click here | Texas | E&P |
| May-07-2025 |
- |
- |
Click here | New Mexico | E&P |
| May-03-2025 |
- |
- |
Click here | New Mexico | E&P |
| Nov-13-2024 |
- |
- |
Click here | New Mexico | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jul-30-2024 | Permian Resources Acquires More Delaware Basin Property | - |
- |
| Jul-28-2024 | Vital Energy Acquires Delaware Basin Property From PE-Backed E&P | - |
- |
| Jun-12-2024 | Matador Resources Acquires PE-Backed Ameredev For $1.9 Billion | - |
- |