You have accessed this news story:
A&D - CRC secures a $320MM Drillco partner for Elk Hills - August 2019
Colony Capital, an investment management firm, is buying into California Resources Corp.’s flagship Elk Hills gas field in California’s San Joaquin Basin via a Drillco agreement. Through its new energy investment arm Colony HB2 Energy, Los Angeles-based Colony has committed to fully fund a $320 million development program consisting of ~275 wells over three years to earn an initial 90% WI in the resulting wells. That interest will be reduced to 17.5% as certain agreed-upon return thresholds are achieved. Colony’s investment could increase to $500 million. The Elk Hills......
Provide your credentials to access this page
Member Area: Log in if you have a PLS web account or Sign up for internet access now.
PLS Web Client?Log in to proceed
|Sign up for PLS Reports
& Web Access!
Already subscribed to Reports?
Sign up for Web Access!