Great assets in the old Triad-Eureka portfolio. Have acreage and pipelines, hope Eclipse could afford it.
yes i have posted on this on other strings. this is an Encap deal. they will continue to control 57% of pro-forma combo. all paper no money. creates much stronger balance sheet for Eclipse.all but the most important player in management is out. Oleg Tolmachev is the long lateral guru and remains in position. either company has the details available to read on their websites. it appears to be quite positive if new ceo Reinhart and management can perform. Encap wants stock value increase going all the way back to Travis Peak purchase by Eclipse. so far they are in a deep hole regarding their initial investment.
most of BRMR assets have been sold through reorg. process except for App. shale acreage. the recent Penn Energy/Rex deal is a simular Encap controlled attempt to raise value of their portfolio comp. PE for an IPO or cash sale later. fine print in Eclipse/BRMR states positioned for further mergers. it would not surprise me to see Penn Energy absorbed into Eclipse/BRMR at some point.
Old timer---a lot in here to unpack, did not know encap was driver, VC has different priorities as you note. Unaware Eclipse purchased TP, but gets even more interesting then. Did nobody pay attention to Aubrey's career arc.....
oh yeah, i pay attn. Reinhart followed A.M. like a shadow through CHK and Ascent[AEP]. now calls BRMR shots. i am concerned with their landowner philosophy due to "rub off"! be aware my community in the "Flat Castle" will be educated and prepared prior to primary term expiration.
Aubrey probably faked his death and is now sitting on a private Island sipping a cold one.And may still be calling the shots! I know; I watch too much TV.
Haha and guy who escaped Alcatraz
Ok, that's very interesting. Song sounds the same for reason. I will take a look. Thanks!
both had to do something...
i only wonder how new ceo Reinhart thinks of landowners as his work history put him in close association with Aubrey McClendon of CHK fame.we all know the CHK philosophy towards landowners. if anyone out there currently with BRMR would comment on how they are being treated especially if receiving royaltys from BRMR, it may shed some light on what to expect. i may be on the wrong trail here but i have a pretty good nose for this stuff. hoping i'm just being gun shy.