NEW YORK–(BUSINESS WIRE)–CohnReznick Capital Markets Securities today announced that it has been engaged to serve as the exclusive advisor to Harmonia Petroleum Corporation (“HPC”), a Houston-based private oil and gas company affiliated with Shanghai, China-based fund, Harmonia Capital Group. CohnReznick Capital Markets Securities will advise HPC on the sale of its operated core Permian Basin oil and gas assets located in Howard and Borden Counties, TX.
HPC currently owns and operates the leases of more than 16,000 gross acres (15,000 net acres) in the Midland Basin, which is located within the greater Permian Basin.
“The Permian Basin has remained resilient for its resource potential and strong well economics, even in today’s volatile market. This particular asset has been largely de-risked by Harmonia and further delineated through horizontal drilling by a number of offset operators,” said Sam (Yinglin) Xu, Head of Oil & Gas Investment Banking at CohnReznick Capital Markets Securities. “Recent transactions in the Permian Basin have demonstrated the value of assets located in Howard and Borden counties.”
Callon Petroleum Company’s (NYSE: CPE) purchase of assets operated by Big Star Oil and Gas, LLC, was announced on April 19, 2016. Blue Whale Energy North America Corp, a privately-owned subsidiary of Blue Whale Energy Ltd., formed Moss Creek Resources LLC for the purchase of Tall City Exploration LLC and Plymouth Petroleum LLC assets, via Moss Creek Resources, LLC, was announced on November 30, 2015. These transactions highlight the continued interest in the Permian Basin.
About CohnReznick Capital Markets Securities
CohnReznick Capital Markets Securities, LLC offers a comprehensive financial advisory platform for the oil and gas sector. We provide financial and advisory services across the Oil & Gas value chain, including Exploration and Production, Midstream, Downstream and Oil Field Services. Leveraging our team’s extensive experience, we offer solutions for raising Debt and Equity Financing, Asset Valuations, Fairness Opinions, General Advisory, Asset Acquisitions and Divestitures (A&D), Joint-Venture and Corporate Mergers & Acquisitions (M&A) Advisory. The firm is an affiliated company of CohnReznick LLP, one of the top accounting, tax, and advisory firms in the country. To learn more, visit https://cohnreznickcapital.com/.
CohnReznick Capital Markets Securities, LLC
Sam (Yinglin) Xu, 917-472-1300
Head of Oil and Gas Investment Banking