Theres been talk of whether U.S. shale companies could answer the call of surging crude prices with a new drilling rush. A copy of Kimmeridge's presentation and additional information can be found at www.FixOvintiv.com. Ben Dell, Founder and Managing Partner of Kimmeridge, said, "We are very pleased to welcome Max to the firm, as Kimmeridge continues to expand its strategic investments in low carbon energy solutions." The Kimmeridge Carbon Solutions strategy is focused on accelerating carbon neutrality through the development of responsible low-cost energy assets and investments at the front end of the carbon cost curve. Prior to joining the Center, Ms. Blanton spent 16 years at Medley Global Advisors as a Managing Director, leading natural gas and renewable coverage as part of the firm's energy team. [WATCH], SilverBow Poison Pill Attempts to Fend Off Possible Kimmeridge Takeover, Kimmeridge Builds Stake in California Resources to Push for Changes: Sources, Analyst Q&A: E&Ps Should Set Net-zero Targets for 2030, Not 2050, Why the E&P Sector Should Reach Net-zeroand Fast, Desert Peak, Falcon Close Merger Forming Sitio Royalties, LandGate Raises $10 Million in Series B Funding Round Led by NextEra, Kimmeridge in Talks with Chesapeake Energy About Changes, Private Equity Strongly Supports E&P ESG Performance, Wall Street Not Ready to Unleash Shale Yet, Kimmeridge Criticizes High Executive Pay by US Oil Producers, Bonanza Creek, Extraction Merger to Create Largest Pure-play D-J Basin Producer. Learn more. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. At FCW, we are proud to work with small landowners who have deep, generational ties to their land empowering them with access to the revenue streams offered by the carbon market. We believe shareholders deserve better and will be supportive of change.". Kimmeridge Closes Fifth E&P-Focused Fund At $800 Million Hard Cap Mr. Warburton will leverage his deep expertise to identify and advance investments within Kimmeridge's dedicated renewable energy platform. Company Type For Profit. Mr. Warburton joins Kimmeridge from Mercedes-Benz AG, where he served as Advisor to the Management Board and Head of Special Projects. Kimmeridge - Overview, News & Competitors | ZoomInfo.com Mr. Dell has served as Chairman of the Board of Directors of Extraction Oil & Gas, Inc. (XOG) since January 2021. NEW YORK, Jan. 14, 2021 /PRNewswire/ -- Kimmeridge Energy Management Company, LLC ("Kimmeridge"), a private investment firm focused on upstream energy, with an investment philosophy. All quotes delayed a minimum of 15 minutes. Meritorious Awards for Engineering Innovation (MEA), URTeC: Devon, Hess Emphasize Teamwork to Tackle Emissions, A&D Minute (Oct. 5, 2022): Chevron Permian Asset Sale? Our carbon solutions strategy was developed to accelerate the energy transition to net zero. Ms. Blanton has a Master's degree in International and Public Affairs from Columbia University's SIPA and a Bachelor of Arts in Economics from Cornell University. Kimmeridge is ideally positioned to establish this platform because of its unique history as a direct operator of energy assets, with extensive experience in land management and delivering net zero energy. Net debt and impairments from Q2'13 to Q3'20. Submit Your Analyst Briefing Latest Kimmeridge News Kimmeridge is committed to accelerating carbon neutrality by developing environmentally responsible, low-cost energy assets. After more than a decade trying to rehabilitate their image since an era of bailouts and mis-selling scandals, Britain's banks are once again a target for public - and political - ire. Kimmeridge has indicated to California Resources the acreage in Orange County could fetch around $800 million if sold for conversion to residential real estate, according to the sources. For additional information on Kimmeridge and its proprietary research, please visitwww.kimmeridge.com. Contact Email info@kimmeridge.com. 15 Little West 12th Street, 5th Floor New York, NY 10014. We focus on business model reform, aligning executive and shareholder interests and environmental stewardship to unlock shareholder value. The definitive proxy statement and an accompanying proxy card will be furnished to Ovintiv stockholders and will be, along with other relevant documents, available at no charge on the SEC website at http://www.sec.gov/. Rextag database of energy infrastructure assets. The sources spoke on condition of anonymity to discuss confidential information. The Company has entered into an overriding royalty interest ("ORRI") transaction with a private investment vehicle managed by Kimmeridge Energy ("Kimmeridge"), an energy-focused private equity firm, that generated gross cash proceeds of $140 million dollars. The magnitude of shareholder value destruction demands a sense of urgency we haveyet to witness from the Board and management team. This includes battery storage and hydrogen solutions, leveraging Kimmeridge's direct operations expertise to reduce and offset emissions. This will be achieved through a mixture of landowner, state, and NGO partnerships, as well as land acquisitions. Founders Benjamin Dell, Henry Makansi. Therefore, we are exercising our shareholder rights to provide the owners of the Company a voice on who should represent them in the Boardroom.". This document will be available free of charge from the source indicated above. Mr. Warburton will leverage his deep expertise to identify and advance investments within Kimmeridge's dedicated renewable energy platform. Mark Viviano | Kimmeridge All Ovintiv stockholders are advised to read the definitive proxy statement and other documents related to the solicitation of proxies by the Participants when they become available, as they will contain important information, including additional information related to the Participants. Mark Viviano, Managing Partner and Head of Public Equities at Kimmeridge, said: "Given the track record of value destruction at Ovintiv, the company requires the stewardship of a strong Board a Board that can restore confidence in the shareholder base and hold management accountable. The stock is . read more. May 4 (Reuters) - Kimmeridge, an activist investment firm that focuses on oil and gas exploration and production companies, told Reuters on Wednesday it has built a stake in Chesapeake Energy Corp (CHK.O) and started talks with the management team on changes to boost its value. The firm seeks to invest in companies operating in the energy sector. Max Warburton's Bio:Mr. Warburton previously served as Advisor to the Management Board and Head of Special Projects at Daimler AG and, following the spin-off of Daimler Truck in 2021, Mercedes-Benz AG. The definitive proxy statement and an accompanying proxy card will be furnished to Ovintiv stockholders and will be, along with other relevant documents, available at no charge on the SEC website athttp://www.sec.gov/. Kimmeridge commends the company on the move, Viviano said in his statement. The Firm has long demonstrated ESG leadership in its advocacy of improved practices in the E&P sector, as evidenced by its various white papers (e.g. In addition to its New York headquarters, Kimmeridge maintains a fully staffed, in-house operating and geology team in Denver, with experience across all major upstream functions and disciplines. About Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an energy private equity firm focused on making direct investments in unconventional oil and gas assets in the U.S. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Katherine L. Minyard, CFA:Ms. Minyard is an Investment Principal and Partner at Cambiar Investors, a long-only, relative value-focused global asset manager. our sites and services. California Resources was formed in 2014 after Occidental Petroleum Corp (OXY.N) spun off its California business into a separate entity. Prior to founding Kimmeridge in 2012, Mr. Dell was a Senior Equity Research Analyst for Oil and Gas Exploration and Production (E&P) at Sanford C. Bernstein. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! In this capacity, he has been instrumental in implementing an innovative compensation structure focused on aligning pay with performance and shareholder returns. Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights' platform. Private equity firm Kimmeridge criticizes high exec pay in energy The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. In addition to its New York headquarters, Kimmeridge maintains a fully-staffed, in-house operating and geology team in Denver. Kimmeridge is an energy private equity firm that offers investment advisory and planning services to the energy sector. Kimmeridge Energy's ambition is to be a top alternative asset manager as measured by risk adjusted returns, portfolio quality and client service. Columbia University School of International and Public Affairs. Founded in 2012, Kimmeridge is an alternative asset manager focused exclusively on the energy sector. In addition to its New York headquarters, Kimmeridge maintains a fully-staffed, in-house operating and geology team in Denver, with experience across all major upstream functions and disciplines. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. Kimmeridge | Investing in Energy for Today, Tomorrow and our Future Who We Are Founded in 2012, Kimmeridge is an alternative asset manager focused exclusively on the energy sector. Warburton previously served as Advisor to the Management Board and Head of Special Projects at Mercedes-Benz AG. In a 2012 research report titled, "Unconventional Wisdom: Shifts in Risk Profiles Undermine Valuation in Transitioning Portfolios," Ms. Minyard was one of the first analysts to highlight the risks associated with the emerging shale model, demonstrating true independence and objectivity. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. By signing up you agree to receive content from us. Information on assets, buyers and sellers, deal values, and more. Kimmeridge Energy Commits $200 Million to Carbon-Offset Startup Chesapeake did not respond to a request for comment. Media: Kimmeridge has made 4 investments. Weitere Informationen darber, wie wir Ihre personenbezogenen Daten nutzen, finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Weighed by slumping oil prices at the onset of the pandemic and a $5 billion debt pile, it filed for Chapter 11 bankruptcy in July 2020, emerging three months later. Database of selected U.S. and international exploration wells. Jeremy Rathjen works as a Vice President at Kimmeridge, supporting the investment team in assessing the viability and economics of potential and existing projects. PitchBook helps you see a fund's investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Kimmeridge is a beneficial owner of 2.5% of Ovintiv's common shares, placing it among the Company's top ten shareholders. Ms. Blanton is widely regarded as one of the leading voices on ESG in the sector and has authored several influential articles including, "Five Key Climate Metrics for the Oil & Gas Sector's Next Five Years," on which she collaborated with Ben Ratner of the Environmental Defense Fund. EXCLUSIVE-Kimmeridge says in talks with Chesapeake Energy - Nasdaq That would equate to a 1.6% stake and make it a top-15 shareholder in the company, according to Refinitiv data. Our engagement strategy invests in public energy companies in an effort to advocate for shareholders and enact change. In its presentation, Kimmeridge, a top ten shareholder of Ovintiv Inc. ("Ovintiv" or the "Company") (NYSE: OVV), highlights the Company's failures of capital allocation, governance and environmental stewardship. He has demonstrated a unique ability to convert his knowledge into actionable strategy, as a key leader in the transformation of Daimler and Mercedes-Benz. Joe Byrnes works as a Vice President at Kimmeridge, supporting the investment team in assessing the viability and economics of potential and existing projects. After more than a decade trying to rehabilitate their image since an era of bailouts and mis-selling scandals, Britain's banks are once again a target for public - and political - ire. EXCLUSIVE Kimmeridge says in talks with Chesapeake Energy - Reuters Exclusive news, data and analytics for financial market professionals, Reporting by David French in New York; Editing by Daniel Wallis, David Holmes and Marguerita Choy, Cold War-era atomic bomb site could host largest US solar development, End of Nigerian fuel subsidy set to squeeze Europe's refiners, Brazil's Petrobras to trim dividends under new policy, Energy minister says he is confident Ukraine will keep lights on this winter, Analysis: UK banks back in political crosshairs after Farage fiasco, Tesla executives hold market entry talks with India investment agency, Saudi Arabia expected to extend voluntary oil cut for September, analysts say, Goldman Sachs asset management executive Salisbury departs for Sixth Street, Pemex gets $3.8 billion from Mexico government, considers tapping bond markets again. Investments by Deal Type. Earlier this month, the Long Beach-based company announced plans to form a joint venture with Brookfield Renewable (BEPC.N), (BEP.N) focused on developing CCS projects across California. Operating Status Active. California Resources did not respond to a comment request. Investor Type Private Equity Firm. Their latest investment was in Landgate as part of their Series B on May 5, 2022. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz- und Cookie-Einstellungen oder Datenschutz-Dashboard klicken. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Kimmeridge looks to continually develop ways to incorporate these principles into its investment philosophy and approach, and records and reports its emissions data to investors on a regular basis. We believe the Company's compensation structure displays a troubling lack of alignment between pay and performance, compounded by the lowest insider ownership amongst U.S. peersii. When typing in this field, a list of search results will appear and be automatically updated as you type. The Kimmeridge Carbon Solutions strategy is focused on accelerating carbon neutrality through the development of responsible low-cost energy assets and investments at the front end of the carbon cost curve. from 8 AM - 9 PM ET. Forest Carbon Works (FCW), which started as a service platform under leading project developer EP Carbon in 2016, is the country's first carbon credit developer that is paying small U.S. landowners for carbon captured through the conservation and sustainable management of their forests. See here for a complete list of exchanges and delays. Mr. Warburton previously served as Advisor to the Management Board and Head of Special Projects at Daimler AG and, following the spin-off of Daimler Truck in 2021, Mercedes-Benz AG. Nominations come after Board has failed to properly evaluate recommendations to position Ovintiv as a leading E&P, Board refreshment is an important step in restoring accountability and investor confidence, Kimmeridge's slate brings substantial ownership and diversity of perspectives. Website http://www.kimmeridge.com Industries Financial Services Company size 51-200 employees. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. Kimmeridge Launches Chestnut Carbon to Create High-quality Nature-based Kimmeridge Energy Management Co. LLC | Hart Energy Kimmeridge Energy Management co-founder Ben Dell for years has prodded large oil and gas companies to speed up consolidation in the sector. SOURCE Kimmeridge Energy Management Company, LLC. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. As a mission-driven corporation, FCW utilizes carbon finance as a tool to support the long-term conservation of American forests and empower stewardship among the 270 million acres of family-owned forest in the U.S. FCW's entire team, including CEO and Founder Kyle Holland, will be instrumental in advancing the growth and vision of Chestnut. , . Kimmeridge's paper said while annual bonuses in 2020 were paid below target, the median payout of 95% still seemed "unjustifiably" high for a year when the median share price return was a negative . New York. Ben Dell:Mr. Dell is Founder and Managing Partner of Kimmeridge, a private investment firm focused on unconventional oil and gas assets in the U.S. Mr. Dell oversees investments and is closely involved in the screening of new geological opportunities. Founded in 2012 byBen Dell, Dr.Neil McMahonandHenry Makansi, Kimmeridge is an alternative asset manager focused on making direct investments in energy in the US. Mr. Warburton has degrees from the University of Exeter and the University of Bath and spent two years conducting post-graduate research on automotive assembly plant efficiency as part of the MIT International Motor Vehicle Program (1998-2000). Total Shareholder Return (TSR) of (84.8)% from 6/10/13(the last trading day before Douglas Suttles joined OVV)to 11/16/20 (the last trading day before media reports that Kimmeridge was actively seeking changes). California Resources' shares have languished compared with peers this year, despite high U.S. crude and natural gas prices, as investors put money into other producers with higher growth rates that can capture the commodity price upswing. NEW YORK and DENVER, March 18, 2022 /PRNewswire/ -- Kimmeridge, a private investment firm focused on energy solutions, today announced the launch of Chestnut Carbon, LLC ("Chestnut"), a leading . In this role, he led key electrification projects including Mercedes-Benz's investment in European battery cell champion ACC, the creation of the Mercedes-Benz global high-power charging network, and the development of EQXX, the world's longest range electric car. This includes battery storage and hydrogen solutions, leveraging Kimmeridge's direct operations expertise to reduce and offset emissions. This document is available free of charge from the source indicated above. Media:Daniel Yunger / Hallie Wolff / Emma Cloyd[emailprotected]917.574.8582 / 917.842.1127. Copyright 2023 CB Information Services, Inc. All rights reserved. Kimmeridge Active Engagement, LLC and Kimmeridge Energy Management Company, LLC and certain of their principals and affiliates, including Ben Dell (collectively, "Kimmeridge") along with Erin Blanton and Katherine L. Minyard (collectively and together with Kimmeridge, the "Participants") intend to file with the SEC a definitive proxy statement and accompanying form of proxy to be used in connection with the solicitation of proxies from the stockholders of Ovintiv. Additional information regarding Kimmeridge's plan for its nominees to help fix Ovintiv can be found atwww.FixOvintiv.com. We very much look forward to this next phase of growth.". San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. When typing in this field, a list of search results will appear and be automatically updated as you type. The Kimmeridge Carbon Solutions strategy is focused on accelerating carbon neutrality through the development of responsible low-cost energy assets and investments at the front end of the carbon cost curve. Prior to joining Daimler AG, Mr. Warburton spent more than a dozen years as Head of Automotive Research at Bernstein Research, located in both London and Asia. By signing up you agree to receive content from us. CBI websites generally use certain cookies to enable better interactions with our sites and services. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. EXCLUSIVE Kimmeridge builds stake in California Resources, in - Reuters Denver. Kimmeridge Mineral Fund Profile: Returns & Limited Partners | PitchBook Investments by Industry. Kimmeridge also provides a framework for restoring confidence in Ovintiv, applying the core principles previously outlined in its white papers. In this role, he led corporate strategy and was responsible for both conceiving of and guiding multiple initiatives across corporate structure, partnerships, technology and electrification. Mr. Warburton will leverage his deep expertise to identify and advance investments within Kimmeridge's dedicated renewable energy platform. 15 Little West 12th Street, 5th FloorNew York, NY 10014, 1401 Lawrence Street, 17th FloorDenver, CO 80202, 2023 Kimmeridge | Terms of UsePrivacy Policy, Environmental, Social and Governance Policy. One of the largest natural gas producers in the United States, Chesapeake has operations in the Marcellus formation in Pennsylvania and the Haynesville shale in Louisiana. Contact Information Website www.kimmeridge.com Year Founded 2012 Investor Status Actively Seeking New Investments Combining Kimmeridge's expertise in land aggregation with FCW's experience developing forest carbon projects will quickly position Chestnut as an extremely attractive partner in the carbon offset space.". Our flagship strategy focuses on unconventional US oil and gas assets at the front end of the cost curve. The Biden, The transaction with Desert Peak will mark the next chapter for Falcon Minerals, which formed in 2018 through an $800 million, Kimmeridge Energy Management Co. LLC retained TenOaks Energy Advisors for the sale of a sizable royalty positionlocated in the, Short-term incentive payout as a percentage of target exceeded 100% for 7 of the 27 U.S. oil and gas companies reviewed by Kimmeridge, The combined company, to be named Civitas Resources, will be the largest pure-play energy producer in Colorados Denver-Julesburg. Now a Kimmeridge-backed producer, Civitas Resources, is . Kimmeridge has also told California Resources it should focus more on its nascent carbon capture and sequestration business (CCS), the sources said. The purchase prices were between $35.94 and $58.34, with an estimated average price of $46.97. You can read more about your cookie choices at our privacy policyhere. The fund is located in New York, New York invests in North America. Active, Closed, This describes the type of investor this organization is (e.g. The fund focuses on oil & gas asset class. Its previous investments include Ovintiv Inc (OVV.N), Callon Petroleum Co (CPE.N), and PDC Energy Inc (PDCE.O). "Charting a Path to Net Zero Emissions for Oil & Gas Production" and "Why the Energy Industry Needs to Build its Own Carbon Offset Exchange to get to Net Zero"). All quotes delayed a minimum of 15 minutes. from 8 AM - 9 PM ET. Share this article Kimmeridge Publishes Presentation: "Ovintiv: A Track Record of Value Kimmeridge is an energy-focused alternative investment manager located in New York and Denver. Mr. Viviano continued, "The combination of poor capital allocation, misaligned incentives and an inferior environmental strategy leaves the Company unprepared for the growing risks associated with the energy transition. Information about the Participants and a description of their direct or indirect interests by security holdings is contained in the Schedule 14A filed by the Participants with the SEC on January 14, 2021. In this role, he led key electrification projects including Mercedes-Benz's investment in European battery cell champion, , the creation of the Mercedes-Benz global high-power charging network, and the development of. Prior to joining Kimmeridge, Mr. Byrnes served as an Equity Research Associate at Citigroup covering exploration and production companies. 1401 Lawrence Street, 17th Floor Denver, CO 80202. info@kimmeridge.com LinkedIn For additional information on Kimmeridge, its strategies and proprietary research, please visit www.kimmeridge.com . By signing up you agree to receive content from us. The company sold its oil-producing Powder River basin assets in Wyoming to Continental Resources (CLR.N) earlier this year for $450 million. Investment Stage Private Equity. Kimmeridge | LinkedIn Generated credits will be verified under existing methodologies and third-party offset registries to ensure accuracy and integrity. View contacts for Kimmeridge to access new leads and connect with decision-makers. Chesapeake and the broader U.S. energy producing sector have benefited from soaring prices for crude oil and natural gas, as Russia's war in Ukraine disrupted supply just as the re-opening of economies and easing of pandemic restrictions around the world drove up demand. California Resources rose as much as 2.8% just after midday Eastern time (1700 GMT) to give the company a market capitalization of $3.6 billion, on a day when most U.S. energy producers were trading down, tracking a fall in crude prices. Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an energy private equity firm focused on making direct investments in unconventional oil and gas assets in the U.S. Rather than partner with separate management teams, Kimmeridge identifies, owns and operates each of its assets directly, maintaining an in-house geology and operating team with experience across all major E&P functions. Instantly unlock over 15 years of A&D transactions and financing data. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. Edit Lists Featuring This Company Section, Kimmeridge recruits Warburton as senior managing director, Kimmeridge Energy to Launch Proxy Fight at Ovintiv, New York Companies With Less Than $50M in Revenue (Top 10K), Asset Management Companies With Fewer Than 50 Employees (Top 10K), Greater New York Area Private Equity Stage Investors. Mr. Dell continued, "Kyle and the Forest Carbon Works team have built an outstanding business and we are very excited to collaboratively build a broad platform that benefits forest owners, the environment and well-intentioned corporations, alike. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Kimmeridge-Backed Civitas to Buy Oil and Gas Assets for $4.7 Billion in

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