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 acquisition price

$650M

Acquired by WildFire Energy · Jul 2021

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

Hawkwood Energy Overview

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

United StatesDenver, CO

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.

Hawkwood Energy acquisition details
AcquirerDateTypePriceEV/Revenue
8 Jul 2021PE buyout$650M18.6x

Hawkwood Energy Funding History

Hawkwood Energy has raised a total of $185M across 1 funding round.

Hawkwood Energy funding rounds

Hawkwood Energy funding rounds
DateStageRaisedDeal Summary
Dec 2014Undisclosed stage$185MHawkwood 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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Hawkwood 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.

Public and private companies comparable to Hawkwood Energy
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Granite Ridge ResourcesUnited StatesUnited StatesPublicly listed$450M$273M$652M2.0x
WIP TerminalJamaicaJamaicaPublicly listed--$653M-
WhiteHawk MineralsUnited StatesUnited StatesPublicly listed$73M$7M$653M-
VAALCO EnergyUnited StatesUnited StatesPublicly listed$359M$92M$656M2.1x
Petronas (50% stake in two Brazil offshore fields)MalaysiaKuala LumpurPrivate--$900M-
PURE Technologies LLCUnited StatesOklahoma City, OKPrivate$92M$15M$397M4.3x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Granite Ridge Resources$450M$273M2.4x2.0x3.9x3.1x
WIP Terminal------
WhiteHawk Minerals$73M$7M11.5x-112.2x-
VAALCO Energy$359M$92M2.5x2.1x9.7x4.7x
EnQuest$1.1B$894M1.4x1.3x1.7x2.5x
PetroRecôncavo$614M$339M1.5x1.6x2.8x3.3x
New Era Energy & Digital$885K($24M)637.5x774.4x(23.5x)(22.6x)
IsoEnergy-($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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