RBC Capital Markets has been hired to oversee the auction, which started earlier this month.
A final sale is not certain, and NGP may decide to retain ownership. Neither NGP nor Camino have commented, while RBC has declined to address the matter.
The potential transaction follows a wave of energy sector M&A activity, though analysts expect deal flow to slow in 2025 as consolidation among private oil and gas firms nears completion.
Camino spans 135,000 net acres and is projected to generate $700m in core earnings next year. The company produces an average of 81,000 barrels of oil equivalent per day, with natural gas making up roughly 50% of its output. As market conditions evolve, the sale of Camino could attract interest from major energy players looking to expand their natural gas portfolios.
Source: Reuters
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