CrownRock, L.P.
- MIDLAND, Texas, April 13, 2021 /PRNewswire/ — CrownRock, L.P. (“CrownRock”), an oil and gas producing joint venture of CrownQuest Operating and Lime Rock Partners,
- The private equity-backed company, which is led by Texas billionaire businessman Timothy Dunn, has initiated discussions with investment banks about hiring advisers to run a sale process that will kick off by early 2024, the sources said.
To acquire or be acquired.
Prior to the XOM-PXD announcement:
- The potential sale of CrownRock could end up being the largest in the U.S. oil and gas producing patch since ConocoPhillips' all-stock deal for Concho Resources in 2020, which valued the latter at $13.3 billion, including debt.
Could we see a 3-company mega-deal? Nope, just joking, but it would be exciting.
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