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Navitas Petroleum

Company Summary

Description

Navitas Petroleum is a privately owned, North America focused, Oil & Natural Gas Exploration and Production partnership.

Website

http://www.navitaspet.com/about-us/

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Company Transactions

Date: 3/15/2020
Type: Acquisition

BUYERS:
  • Navitas Petroleum
    • SELLERS:
  • Denbury Resources Inc.
    • DETAILS:

    COST: 50 $MM

    VOLUMES: 1.5 MBOE/d

    NOTES:
    Denbury has agreed to sell half of their nearly 100% working interest in four SE Texas oil fields that are located in Webster, Thompson, Manvel and East Hastings. The deal was done for $50 million in cash and a carried interest in 10 planned wells that Navitas will be drilling. Closing will occur March 2020.
    REGIONS:
  • South Texas
  • Gulf Coast