The Denver business Journal reports today that Templar Energy of OKC is buying $1 billion in assets from Forest Oil of Denver. The assets are loctaed in the Texas Panhandle.

Forest Oil agrees to $1 billion asset sale - Denver Business Journal (http://www.bizjournals.com/denver/blog/earth_to_power/2013/10/forest-oil-agrees-to-1-billion-asset.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_denver+%28Denver+Busines s+Journal%29)

Does OKC have another rising star?

Dang...That company was formed this year.

That's a massive startup.

"Templar Energy LLC provides oil and gas exploration and production services and operates about 7,000 net acres in Ellis and Roger Mills counties, with average production of 1,500 barrels of oil equivalent per day (boe/d). The company was founded in 2013 and is based in Oklahoma City, Oklahoma."

This company is owned by David LeNorman who owned crusader before selling to sandridge. He's been around the OKC circuit a long time. Their typical model is to build up a company and flip it, rinse and repeat. I'm almost positive that is what he is doing with LeNorman operating/Templar, but I could always be wrong. They already operate a decent amount of acreage in the Texas panhandle but this is a major acquisition for them. The granite wash and hog shooter are hot oil plays right now and forest had a large position in them. CHK drilled a 7,000+ BOE well out there last year which was the most productive well they've ever drilled.

Crusader? Templar? I think I know where the money is coming from...

Crusader? Templar? I think I know where the money is coming from...

We should probably stop talking about it now.... :sofa:

We should probably stop talking about it now.... :sofa:

Shhhhhhhhh.... The illuminati is listening.

Shhhhhhhhh.... The illuminati is listening.

First this... and now Jay-Z is playing a show here in OKC... Coincidence??? I... think... not...

This company is owned by David LeNorman who owned crusader before selling to sandridge. He's been around the OKC circuit a long time. Their typical model is to build up a company and flip it, rinse and repeat. I'm almost positive that is what he is doing with LeNorman operating/Templar, but I could always be wrong. They already operate a decent amount of acreage in the Texas panhandle but this is a major acquisition for them. The granite wash and hog shooter are hot oil plays right now and forest had a large position in them. CHK drilled a 7,000+ BOE well out there last year which was the most productive well they've ever drilled.

This is all correct(other than the fact jones energy wound up with CRU assets out of bankruptcy, not SD)It will eventually be flipped, but this one may take longer than the previous ones.

Awesome company name.

I was really impressed that a $1 billion acquisition could fly so low under the radar. I don't know their overall capitalization, but they must be knocking at the door of the top-tier energy companies in OKC.

Awesome company name.

Simon agrees.

http://filmdope.com/Gallery/ActorsM/tve12296-19621220-302.gif

A google search led to this...

"Templar Energy (“Templar”) is an exploration and production company focused on investing primarily in the mature, liquids-rich producing basins in the Mid-Continent Region. The Company also evaluates opportunities outside the region which fit its economic criteria. First Reserve made its investment in Templar in December 2012. Templar is headquartered in Oklahoma City, OK"

"First Reserve is a premier global energy-focused private equity and infrastructure investment firm with $23.1 billion of raised capital since the Firm’s inception.

Throughout its more than 29-year history, First Reserve has developed a preeminent franchise by investing exclusively across the energy spectrum and utilizing its broad base of specialized industry knowledge to the benefit of its portfolio companies and investors."

https://www.firstreserve.com/go.asp?Go=!SiteStation&x=TPLGen&ResType=Page&ResID=3254&TPL=PortFolioPageTemplate.htm

This is all correct(other than the fact jones energy wound up with CRU assets out of bankruptcy, not SD)It will eventually be flipped, but this one may take longer than the previous ones.

Interesting, they must of sold their assets in part of my district to Sandridge prior to their bankruptcy. Just assumed that was who they flipped it too. The recession must of really hit them hard as they were doing pretty well prior to 2009.