Houlihan Lokey is pleased to announce Altamont Energy, LLC (Altamont) has been acquired by XCL Resources, LLC (XCL), a portfolio company of EnCap Investments, LP (EnCap).
Altamont is a privately owned E&P company based in Denver, Colorado. The company owns more than 36,000 contiguous oil-weighted net acres in the core of the Uinta Basin, producing over two thousand barrels of oil equivalent per day primarily in the Bluebell field. Altamont estimates it has 57 operated development well locations across the Uteland Butte, Upper Wasatch, and Lower Wasatch formations that garner oil estimated ultimate recoveries of approximately 100 barrels per lateral foot.
XCL is a Houston-based independent oil and gas company focused on the identification, acquisition, and development of horizontal resource plays in the Lower 48. The company’s current operations are focused in the Uinta Basin. XCL’s partnership with EnCap began in 2018, with EnCap providing the majority of the financial backing for all of XCL’s investments to date.
Houlihan Lokey acted as the exclusive financial advisor to Altamont for all aspects of this transaction, including underwriting, structuring, and negotiating the transaction.
If you would like more information about Houlihan Lokey or have any questions regarding the firm’s role in this transaction, please contact one of the team members listed below.
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