NGP Energy Capital Management is considering selling Camino Natural Resources, one of the largest privately held natural gas producers in Oklahoma’s Anadarko Basin, in a deal that could value the company at around $2bn, including debt, according to a report by Reuters.
The reports cites unnamed sources familiar with the matter as revealing that NGP has enlisted RBC Capital Markets to oversee the auction process, which formally began earlier this month. However, a sale is not guaranteed, and NGP could ultimately decide to retain ownership.
Neither NGP nor Camino responded to requests for comment, while RBC declined to comment.
The potential sale comes amid a wave of energy sector mergers and acquisitions, although analysts expect deal activity to slow in 2025 as many of the largest private oil and gas companies have already been acquired.
Covering approximately 135,000 net acres, Camino is projected to generate around $700m in core earnings in 2025, with an average daily production of 81,000 barrels of oil equivalent, of which roughly 50% is natural gas, sources said.
