FourPoint is primarily focused on acquiring and developing oil and natural gas assets in the Western Anadarko and Permian Basins. Founded by the leadership team of Cordillera Energy Partners following the sale to Apache Corporation in 2012, FourPoint Energy is proud to boast an exceptional team of professionals with decades of industry-leading experience.
FourPoint Energy is a private exploration and production company founded by the leadership team of Cordillera Energy Partners following the sale to Apache Corporation in 2012. FourPoint is headquartered in Denver, Colorado with four field offices located throughout Western Oklahoma and the Texas Panhandle. With over decades of industry leading experience, the team at FourPoint is dedicated to creating value that makes a difference. FourPoint has fostered a culture of a dedicated and technically advanced team of professionals who are hard-working and committed to excellence.
Focused on organic growth and creating value through its development program, FourPoint began 2018 operating six rigs and transitioned to a four rig program by year end. Following the closing of its strategic upstream and midstream acquisition in December 2017, the company formally launched MidPoint Midstream in early 2018. This wholly owned subsidiary of FourPoint, provides midstream services for crude oil and natural gas in the Western Anadarko Basin. On June 1st FourPoint announced a partnership with Double Eagle Energy to form a new Permian Basin company, DoublePoint Energy. This joint venture is a pure-play Permian company with one of the largest private land positions in the core areas of the Midland Basin. FourPoint also formed a strategic partnership with RS Energy, an industry-leading data analytics company focused specifically in oil and gas. This highly coveted collaborative partnership will provide a unique opportunity to leverage and integrate proprietary data and further optimize industry-wide research and data into strategic efficiencies.
On January 30, 2014, FourPoint Energy announced the closing of an acquisition to acquire assets in the Western Anadarko Basin from EnerVest, Ltd. FourPoint purchased for $269 million, an ownership stake in both the Laredo and SM Energy acquisitions closed by EnerVest in the fourth quarter of 2013. The acquisition included interest in 1500 producing wells with net production to FourPoint of 30 Mmcfed.
FourPoint and EnerVest also entered into a Joint Development Agreement and Area of Mutual Interest to own, operate and develop oil and gas properties in the Western Anadarko Basin. The partnership combined the extensive technical, operational and transactional expertise of both companies while launching a well-capitalized venture to capture future opportunities through acquisitions and the drill bit.
Simultaneous with the negotiation of the asset purchase and Joint Development Agreement, FourPoint closed on the funding of its initial equity and debt capitalization totaling over $200 million in direct private equity and $800 million in term debt from EIG Global Energy Partners and GSO Capital Partners. In November 2014, the capital structure of FourPoint was subsequently increased to approximately $660 million in equity and over $1.25 billion in debt capacity. FourPoint also entered into a $250 million credit facility led by J.P. Morgan and Wells Fargo with 10 participating banks.
In December 2014, FourPoint and EnerVest closed on their largest Joint Venture acquisition with a purchase of assets from Linn Energy for $1.95 billion. This acquisition added 195 Mmcfed in production from 1,358 producing wells, 922 Bcfe in proved reserves and 145,000 net acres.
BUSINESS OPPORTUNITIES
Company Details | |
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Company Name | Four Point Energy |
Business Category | Oil & Gas |
Address | 100 St. Paul Street Ste. 400 Denver Colorado United States ZIP: 80206 |
President | George Solich |
Year Established | 2012 |
Employees | NA |
Memberships | NA |
Hours of Operation | NA |
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