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.
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.