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- Hawkwood Energy
Hawkwood Energy Acquisition, Valuation, Funding & Investors
Hawkwood Energy was acquired by WildFire Energy for $650M in July 2021, a 18.6x multiple on $35M of revenue.
Hawkwood Energy revenue at acquisition
$35M
Last twelve months · Jul 2021
Hawkwood Energy revenue multiple at acquisition
18.6x
EV/Revenue · Jul 2021
Cumulative funding Hawkwood Energy raised
$185M
across 1 funding round
About Hawkwood Energy
Hawkwood Energy is a Denver-headquartered independent exploration and production company concentrating on oil and natural gas assets in East Texas' Eagle Ford Shale. The firm holds over 170,000 net acres of contiguous acreage and operates more than 300 wells producing around 13,000 net barrels of oil daily. Hawkwood entered the region in 2014 following its 2012 founding with backing from Warburg Pincus and Ontario Teachers' Pension Plan, completing over 20 acquisitions.
Founded
2012
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$35M (Jul 2021)
Valuation
$650M (acquired Jul 2021)
Sectors
Hawkwood Energy Acquisition
Hawkwood Energy was acquired by WildFire Energy for $650M on 8 July 2021.
The acquisition price implies a 18.6x revenue multiple on $35M of revenue.
Before the acquisition Hawkwood Energy had raised $185M across 1 funding round.
Hawkwood Energy LLC, an independent exploration and production company focused on oil and natural gas resources in the Eagle Ford Basin of East Texas, entered into definitive agreements to be acquired by WildFire Energy I LLC on July 8, 2021. Hawkwood had liquids-weighted production of approximately 15,000 gross equivalent barrels per day across 160,000 net acres. The transaction attributes an enterprise valuation of approximately $650 million to Hawkwood. Following the transaction, Hawkwood's existing shareholders retain approximately 50% equity interest in WildFire, with the other 50% held by WildFire’s management team and private equity sponsor Kayne Anderson. The combined entity operates under the WildFire Energy name, with WildFire's team—experienced from managing WildHorse Resource Development Corp. until its $4 billion sale to Chesapeake Energy in 2019—taking operational control. A significant equity investment from Kayne Anderson and WildFire management substantially de-levers the company, enabling pursuit of drill-bit opportunities and accretive acquisitions. The deal is positioned as the next evolution for Hawkwood, pairing its assets with WildFire's Eagle Ford expertise and strong balance sheet. The transaction was expected to close in Q3 2021.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 8 Jul 2021 | PE buyout | $650M | 18.6x |
Hawkwood Energy Funding History
Hawkwood Energy has raised a total of $185M across 1 funding round.
Hawkwood Energy funding rounds
| Date | Stage | Raised | Deal Summary |
|---|---|---|---|
| Dec 2014 | Undisclosed stage | $185M | Hawkwood Energy, headquartered in Denver, is an energy company focused on exploration and production, particularly in the Eagle Ford Basin of East Texas. In December 2014 (listed as Dec 30), it completed a private equity funding round raising $184.66 million (also noted as ~$184.7M), led by investors including Warburg Pincus and Ontario Teachers' Pension Plan. This was the company's second round, following an earlier private equity round on August 23, 2012, bringing total equity funding to $499.06 million across two rounds. The 2014 funding reflects investor confidence in Hawkwood's business model and growth potential in oil and natural gas resource development. Warburg Pincus had previously supported Hawkwood's formation and asset acquisitions, such as in East Texas. By later years, Hawkwood developed liquids-weighted production of approximately 15,000 gross equivalent barrels per day across 160,000 net acres in the Eagle Ford. In July 2021, Hawkwood was acquired by WildFire Energy I LLC in a transaction attributing an enterprise valuation of approximately $650 million to Hawkwood. Post-acquisition, Hawkwood shareholders retained 50% equity in the combined entity, which operated under the WildFire Energy name, with assets managed by WildFire's team experienced in the Eagle Ford. A significant equity investment from Kayne Anderson and WildFire's management de-levered the company. |
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Start Free TrialHawkwood Energy Competitors
Hawkwood Energy competitors include listed companies like Granite Ridge Resources, WIP Terminal, WhiteHawk Minerals and VAALCO Energy, and private ones like Petronas (50% stake in two Brazil offshore fields) and PURE Technologies LLC.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $450M | $273M | $652M | 2.0x | ||
| Publicly listed | - | - | $653M | - | ||
| Publicly listed | $73M | $7M | $653M | - | ||
| Publicly listed | $359M | $92M | $656M | 2.1x | ||
| Private | - | - | $900M | - | ||
| Private | $92M | $15M | $397M | 4.3x |
Hawkwood Energy Public Comps
Hawkwood Energy is no longer listed, but its public comps include Granite Ridge Resources, WIP Terminal, WhiteHawk Minerals, VAALCO Energy, EnQuest, PetroRecôncavo, New Era Energy & Digital, IsoEnergy, W&T Offshore and Hallador Energy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $450M | $273M | 2.4x | 2.0x | 3.9x | 3.1x | |||
| - | - | - | - | - | - | |||
| $73M | $7M | 11.5x | - | 112.2x | - | |||
| $359M | $92M | 2.5x | 2.1x | 9.7x | 4.7x | |||
| $1.1B | $894M | 1.4x | 1.3x | 1.7x | 2.5x | |||
| $614M | $339M | 1.5x | 1.6x | 2.8x | 3.3x | |||
| $885K | ($24M) | 637.5x | 774.4x | (23.5x) | (22.6x) | |||
| - | ($4M) | - | - | (145.4x) | (49.0x) | |||
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Common questions about Hawkwood Energy
| When was Hawkwood Energy founded? | Hawkwood Energy was founded in 2012. |
| Where is Hawkwood Energy headquartered? | Hawkwood Energy is headquartered in Denver, CO, United States. |
| Is Hawkwood Energy publicly listed? | No, Hawkwood Energy was acquired by WildFire Energy in July 2021. |
| Who acquired Hawkwood Energy? | Hawkwood Energy was acquired by WildFire Energy in July 2021. |
| How much was Hawkwood Energy acquired for? | Hawkwood Energy was acquired for $650M in July 2021, a 18.6x revenue multiple. |
| How much funding has Hawkwood Energy raised? | Hawkwood Energy has raised $185M across 1 funding round. |
| What was Hawkwood Energy's last funding round? | Hawkwood Energy's last funding round was a $185M undisclosed-stage round in December 2014. |
| Which companies are comparable to Hawkwood Energy? | Companies comparable to Hawkwood Energy include Granite Ridge Resources, WIP Terminal, WhiteHawk Minerals, VAALCO Energy, Petronas (50% stake in two Brazil offshore fields) and PURE Technologies LLC. |
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