EnCap Investments seeks sale of Utah oil producer XCL Resources, sources say [Reuters]
Jefferies Financial Group Inc. (JEF)
Last jefferies financial group inc. earnings: 10/25 04:42 pm
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Source: Reuters
equity firm's plan to combine the oil and gas producer with a local rival was thwarted by U.S. antitrust regulators. XCL, one of the largest energy producers in the Uinta shale formation of Utah, could be worth at least $2.8 billion including debt, and could achieve a higher valuation when accounting for its undeveloped assets, the sources said. Investment bankers at Jefferies Financial Group (JEF.N) , opens new tab are running the sale process for XCL, which kicked off earlier this month, the sources added, requesting anonymity because the matter is confidential. An EnCap spokesperson declined comment, as did a Jefferies spokesperson. XCL and Rice Investment Group, which owns a minority position in XCL, did not respond to requests for comment. EnCap first invested in XCL in 2018 with a $400 million capital commitment. XCL has around 45,000 net acres in the Uinta, according to its website. The company produces around 55,000 barrels of oil equivalent per day, the sources said
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JEF
Earnings
- 3/27/24 - Miss
JEF
Sec Filings
- 4/26/24 - Form 424B2
- 4/24/24 - Form 4
- 4/24/24 - Form 144
- JEF's page on the SEC website