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CM - Financial distress is buy opp for Fulcrum-backed EF startup - August 2019
New Eagle Ford driller and producer Pachira Oil & Gas bought nearly 10,000 net acres of leasehold in the play and 20 net horizontal wells with oil-weighted production, backed by Denver-based Fulcrum Energy Capital Funds. The assets have substantial upside potential through capital-light operations optimization. Fulcrum president Brad Morse said the assets were acquired “at an attractive valuation based only on existing production and current cash flow from a seller that was experiencing financial distress.”Through Pachira, Fulcrum increases exposure to the Gulf Coast crude market. The firm targets privately......
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