Rockcliff Energy LLC, a private equity-backed natural gas explorer, has been speaking with advisers as it evaluates takeover interest from rival U.S. shale drillers, people with knowledge of the matter said.
The Houston-based company could seek $4 billion or more in a sale, the people said. Deliberations are at an early stage, and there’s no certainty Rockcliff will conclude any transaction, according to the people who requested anonymity because the information isn’t public.
Rockcliff Energy Permit Download
Representatives for Rockcliff and its Houston-based backer Quantum Energy Partners didn’t immediately respond to requests for comment.
Founded in 2015, the company pumps the daily equivalent of more than 1 billion cubic feet of gas from the Haynesville Shale in East Texas. Last week, its Quantum affiliate Trace Midstream agreed to sell gas gathering and processing assets to Williams Cos. for $950 million.
Rockcliff Energy Well Permit Summary
While publicly traded shale drillers are adhering to fiscal discipline, closely held explorers have been ramping up output in U.S. shale fields over the past year in hopes of attracting takeover interest.
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