Your Portal for Key Energy Information and Research

DoublePoint Energy, LLC

Company Summary

Description

Acquired by Pioneer Natural Resources in 2021. 

Double Eagle Energy Holdings III LLC and FourPoint Energy announced the formation of a new company named DoublePoint Energy, LLC which will be a pure-play Midland Basin company with over 70,000 acres in the core areas of the oil-rich, multi-pay zones in Midland, Glasscock, Martin, Howard, Upton and Reagan Counties, Texas. The assets of the new company are a combination of Double Eagle's existing Midland Basin acreage and production, along with additional assets that were recently acquired from undisclosed sellers. DoublePoint will continue to consolidate its position in its core areas through bolt-on acreage acquisitions and acreage trades while investing additional capital in an active drilling program.

Related Entities

Recent news

  • 8/3/2021 - Pioneer Reports 2Q21 Net... (subscriber access)
  • 5/11/2021 - Pioneer Launches Public... (subscriber access)
  • 5/5/2021 - Pioneer Natural... (subscriber access)
  • 5/5/2021 - Pioneer Natural... (subscriber access)
  • 5/5/2021 - Pioneer Natural... (subscriber access)

Company Transactions

Date: 6/30/2021
Type: Acquisition

BUYERS:
  • Pioneer Natural Resources Co.
    • SELLERS:
  • DoublePoint Energy, LLC
    • DETAILS:

    COST: 6.4 $B

    VOLUMES: 100 MBOE/d

    ACRES: 97000 Acres

    NOTES:
    Pioneer Natural Resources has entered into a deal to acquire DoublePoint Energy for $6.4 billion, which will include 27.2 million shares of PXD common stock, $1 billion in cash and the assumption of $0.9 billion in debt.
    REGIONS:
  • Midland Basin

    • Date: 6/5/2018
    Type: Joint Venture

    BUYERS:
  • DoublePoint Energy, LLC
    • SELLERS:
  • Double Eagle Energy Holdings III LLC
  • FourPoint Energy
    • DETAILS:

    ACRES: 70000 Acres

    NOTES:
    Double Eagle Energy Holdings III and FourPoint Energy announced the formation of DoublePoint Energy as a pure-play Midland Basin upstream company which will initially hold over 70,000 net acres in Midland, Glasscock, Martin, Howard, Upton and Reagan Counties, Texas.
    REGIONS:
  • Midland Basin