Private investment firm Raisa Energy is selling a package of oil and gas wells across numerous U.S. shale basins that may fetch around $1.5 billion, people familiar with the matter said.
The sale, which is in its early stages, is not guaranteed and the final price could fluctuate depending on market conditions and other factors, these sources said, asking not to be named because the process is confidential.
TPH, the energy-focused investment banking arm of boutique advisor Perella Weinberg Partners, is advising Raisa on the effort, they added.
Raisa did not respond to a comment request. Perella Weinberg declined comment.
The assets being marketed by Raisa are known in the oil and gas industry as non-op, meaning the owner contributes a portion of the drilling costs and other expenses and gets a share of the revenue from the sale of hydrocarbons in return. Meanwhile, another producer takes charge of the wells’ day-to-day operation.
Such non-op positions are attractive to energy producers that specialize in such assets, or financial investors who can pocket steady returns without needing operating knowledge.
Roughly half of the production from the Raisa assets is natural gas, with total net production around 63,000 barrels of oil equivalent per day, one of the sources added.
(Reporting by David French and Shariq Khan in New York. Editing by Dawn Kopecki and Marguerita Choy)