Ridgemar Energy: Potential $1 Billion Sale in the Works

Ridgemar Energy, an oil and gas producer backed by Carnelian Energy Capital, is considering a $1 billion sale. The company operates in the Eagle Ford Basin, South Texas, and has expanded its holdings. Carnelian, Ridgemar, and RBC Capital are managing the process.

Ridgemar Energy, a U.S. oil and gas producer backed by private equity firm Carnelian Energy Capital, is exploring a sale that could value the company at over $1 billion, inclusive of debt, according to insiders.

Ridgemar, working with RBC Capital Markets, is focusing on its operations in South Texas' Eagle Ford Basin, potentially attracting bids from both public and private energy firms. The outcome remains uncertain.

Despite past successful exits by private equity in the energy sector, Ridgemar's sale discussions, following its significant regional expansions, underscore ongoing opportunities in the oil and gas market.

(With inputs from agencies.)