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CM - CRC gets $500 million PE infusion for Elk Hills drilling - September 2019
Alpine Energy Capital, LLC recently closed $500 million financing for a drilling JV with California Resources Corp., the state’s largest E&P company. The transaction is the first investment of a new JV of Colony Capital Inc. and Equity Group Investments, the private firm of billionaire Sam Zell. Houston-based Alpine has committed $320 million in the first tranche of the drilling JV that will be used to develop ~275 wells over three years at CRC’s......
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