TPG Pace Energy Holdings Announces First Quarter 2018 Results of Target Assets
TPG PACE ENERGY HOLDINGS CORP (TPGE)
US:NYSE Investor Relations:
tpg.com/platforms/paceholdings
Company Research
Source: Business Wire
HOUSTON--(BUSINESS WIRE)-- TPG Pace Energy Holdings Corp. (“TPGE”) (NYSE: TPGE, TPGE.U, TPGE.WS), an energy-focused special purpose acquisition entity led by former Occidental Petroleum Corporation CEO Steve Chazen, today announced certain financial and operating results for the first quarter of 2018 for the Karnes County and Giddings Field assets (the “Magnolia Assets”) that TPGE is under definitive agreements to acquire from affiliates of EnerVest, Ltd. (“EnerVest”). Magnolia Assets First Quarter 2018 Highlights(1): Operating revenue of $193.3 million Pro forma EBITDA(2) of $152.2 million Free cash flow(3) of $66.3 million Average daily net production of 45.7 Mboe/d (62% oil, 78% liquids) TPGE Chairman and CEO, Steve Chazen, commented: “These strong results were above our expectations for production and realized prices in the
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