Ensign Natural Resources LLC, Houston, has acquired Eagle Ford assets from Reliance Eagleford Upstream Holding LP, a subsidiary of India's largest business conglomerate, Reliance Industries Ltd.
The acquisition includes about 62,000 net acres in Bee, DeWitt, Karnes, and Live Oak Counties and current net production of about 18,000 boe/d, increasing Ensign's current ownership to 100% in the leases and wells it acquired from Pioneer Natural Resources USA Inc. in 2019 and Newpek LLC in 2020 (OGJ Online, May 7, 2019, Aug. 19, 2020).
Post the Reliance acquisition, Ensign owns and operates 130,000 acres in the core of the Eagle Ford with current production near 40,000 boe/d, and Reliance has divested all its shale gas assets and has exited from the shale gas business in North America.
Ensign was formed in 2017 in partnership with Warburg Pincus. As part of the Pioneer acquisition, the company secured an equity commitment from the Kayne Private Energy Income Funds.