EnCap Looks To Sell $3B In Permian Oil And Gas Assets ...Middle East

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EnCap Looks To Sell $3B In Permian Oil And Gas Assets
Buyout firm EnCap Investments is looking at a possible sale of $3 billion worth of Permian-focused oil and gas producers, anonymous sources told Reuters on Thursday. The assets under sales consideration include Novo Oil & Gas Holdings, and Forge Energy II. Novo Oil & Gas LLC, focused in the Permian’s Delaware Basin, was estimated by Enverus last year to hold fewer than five years of higher-quality inventory at sub-$45 oil, with sources estimating the company’s valuation at more than $2 billion. It holds around 17,000 net acres…

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