Capturing High-Growth Upstream Energy Opportunities

Black Mountain Oil & Gas (BMOG) is an independent oil and gas company based in Fort Worth, Texas. From 2008 to 2012, the Black Mountain team leased and sold over 200,000 net acres in emerging shale plays, building up a knowledge base that led to its first $150 Million equity commitment with Natural Gas Partners (NGP) in February 2016. In just sixteen months, BMOG built a core position in the heart of the Northern Delaware Basin, aggregating a significant ownership block through 40 separate transactions. In addition to producing ~400 net Boe/d, this ~18,000-net acre portfolio featured significant running room across six de-risked zones with up to 10 target benches in approximately 5,000 feet of stacked pay.

Our partnership with NGP provides the opportunity to evaluate a broad opportunity set, delivering the financial agility needed to move quickly to create value in the oilfield.

In March 2017, Black Mountain Oil & Gas sold this initial NGP-backed Permian Basin-based asset portfolio to Marathon Oil for $700 Million. We are currently building a second NGP-backed leasehold position in the Delaware Basin.

Black Mountain Oil & Gas At A Glance

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2007

Parent company Black Mountain formed

2016

February
Black Mountain Oil & Gas I announces $150 Million equity commitment with NGP

2017

January
Black Mountain Oil & Gas I (BMO&GI) spuds Cypress 1H in Eddy County, NM

March
Sale of BMO&GI to Marathon for $700 Million

April
Black Mountain O&G II (BMO&GII) formed backed by an additional equity commitment from NGP

December
Black Mountain Oil & Gas II (BMO&GII) spuds Atticus 45-1H in Pecos County, TX