FourPoint Energy
FourPoint Energy is a private exploration and production company based in Denver, Colorado, with over 30 years of industry leadership. The company focuses on acquiring and developing producing assets and undeveloped resources, primarily in the Western Anadarko Basin.
Company History
FourPoint Energy was founded in October 2013, emerging from the leadership of Cordillera Energy Partners. The company has since established itself as a key player in the exploration and production sector, particularly in the Western Anadarko Basin. Notable historical milestones include their formation of Cordillera Energy Partners II (CEP II) and Cordillera Energy Partners III (CEP III), the acquisition of significant assets from Apache Corporation, and several large transactions involving assets from companies like Chesapeake Exploration, L.L.C. and Linn Energy. FourPoint Energy merged with Apache Corporation in January 2012, further solidifying its industry presence.
Founders
FourPoint Energy was founded by the leadership team from Cordillera Energy Partners. This foundational leadership brought decades of industry-leading experience, enabling the company to focus on the management and acquisition of producing assets, along with the exploration and development of undeveloped resources.
Services and Operations
As a private exploration and production company, FourPoint Energy focuses on the management and acquisition of producing assets and the exploration and development of undeveloped resources. The company operates predominantly in the Western Anadarko Basin. They also launched MidPoint Midstream, a subsidiary providing midstream services for crude oil and natural gas in this region. FourPoint Energy maintains a culture of continuous improvement, incorporating best drilling and completion technologies to enhance operational efficiencies.
Strategic Partnerships
FourPoint Energy has formed several strategic partnerships to bolster its industry position. These include a partnership with Double Eagle Energy to create DoublePoint Energy, a pure-play Permian company, and a partnership with RS Energy, a leading data analytics company. The company has entered into a Joint Development Agreement and Area of Mutual Interest with EnerVest, Ltd., fostering collaborative growth opportunities.
Acquisitions and Capitalization
FourPoint Energy has been actively involved in significant acquisitions to expand its asset base. This includes purchasing assets from Chesapeake Exploration, L.L.C. for $385 million in 2016, and additional assets valued at $840 million in 2015. In 2014, the company closed on initial equity and debt capitalization totaling over $200 million in private equity and $800 million in term debt from EIG Global Energy Partners and GSO Capital Partners. They also secured a $250 million credit facility led by J.P. Morgan and Wells Fargo.