Black Mountain Oil & Gas is a private, entrepreneurial upstream oil and gas company with deep experience sourcing, developing, and operating properties in hydrocarbon-rich basins throughout the lower 48 and beyond, with over 25 full-time upstream professionals from leading independent oil and gas companies. Our strong financial backing allows us to evaluate a broad opportunity set, delivering the agility needed to create value in the oilfield both through aggressive acquisition and through the drill bit. Our team is fit-for-purpose to create value out of both exploration stage and drill bit ready opportunities.
Black Mountain Oil & Gas focuses on developing detailed subsurface expertise in our operating regions. This has allowed us to nimbly pursue opportunities, helping assemble asset portfolios that include both legacy cash flow and upside potential.
A History of Building Value
In its third iteration, BMOG is focused on creating sustainable, repeatable results with a broad opportunity set. The BMOG dynasty was born from an initial $150 Million equity commitment from NGP, where Black Mountain Oil & Gas assembled an ~18,000-net acre portfolio in West Texas, which was sold in 2017 for $700 Million.
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; 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.