The combined purchase price and anticipated development capital represents an incremental ~US$450 million commitment to the Eagle Ford for Warwick.
Warwick's future development of the Rosewood asset will be focused on natural gas and natural gas liquids to provide fuel for power consumption and feedstock for chemicals and plastics.
"This asset sits well within Warwick's investment criteria targeting current production, future drilling inventory and diversified commodity streams. We believe this acquisition represents a strong risk-adjusted return on deployed capital for our investors and welcome this asset to the Warwick portfolio," said Ian Rainbolt, Co-CIO of Warwick Investment Group.
"Rosewood grows Warwick's exposure to world-class, geologically diversified and de-risked reservoirs. We congratulate the Rosewood team on their work on this asset and look forward to growing Warwick's exposure to the Eagle Ford." said Kate Richard, CEO of Warwick Investment Group.
Read the latest issue of Oilfield Technology in full for free: Issue 3 2021
Oilfield Technology’s third issue of 2021 starts with a report from Wood Mackenzie focusing on the upstream industry’s fortunes in Asia-Pacific. The rest of the issue is dedicated to features covering offshore engineering, coiled tubing, frac technology, completion technologies, water management, well placement and much more.
Exclusive contributions come from Wild Well Control, Cudd Pressure Control, TMK, NOV, Archer, Tendeka, TETRA Technologies and more.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/17092021/warwick-investment-group-acquires-rosewoods-eagle-ford-assets/
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