On Apr. 6, Breitburn Energy Partners, Los Angeles, emerged from Chapter 11 as Maverick Natural Resources LLC, a portfolio company majority owned and controlled by funds and accounts managed by EIG Global Energy Partners (OGJ Online, May 16, 2016).
Maverick’s current portfolio of assets includes production averaging 39,742 boe/d in 2017 (88% operated), estimated proved reserves of 152.2 million boe (97% of which are proved developed reserves with a proved reserve life index averaging more than 10 years), 1 million gross acres (600,000 net), and 11,500 gross wells (7,600 net).
Maverick has debt of $105 million and borrowing capacity of $295 million under a new bank credit facility.
Maverick is focused on the development and production of oil and gas reserves throughout the United States, including those in the US Midwest, Ark-La-Tex, Rockies, California, Permian basin, Southeast, and the Midcontinent regions.