Bakken Shale Heavyweight Grayson Mill Up for Potential $5 Billion Sale
Private equity firm EnCap Investments is contemplating a multi-billion dollar exit from the booming U.S. shale patch. Exploring a sale of its portfolio company, Grayson Mill Energy, for a potential $5 billion, EnCap seeks to capitalize on strong M&A activity driven by companies seeking to consolidate and secure prime drilling locations.
EnCap Investments weighs selling Grayson Mill Energy, a Bakken shale oil and gas producer, for $5 billion (including debt).
Investment bank Jefferies Financial Group is managing the potential sale, launching later in 2024.
The Bakken shale has seen record-breaking M&A activity, boosting EnCap's potential exit value.
EnCap previously achieved successful portfolio exits, including a $4.275 billion sale to Ovintiv in 2023.
Grayson Mill, formed in 2016, grew through acquisitions, becoming a major Bakken player with additional assets in Wyoming.