Sabalo Energy Acquisition, Valuation, Funding & Investors

Sabalo Energy was acquired by Vital Energy for $715M in May 2021.

Sabalo Energy acquisition price

$715M

Acquired by Vital Energy · May 2021

Cumulative funding Sabalo Energy raised

$300M

across 1 funding round

Key investors in Sabalo Energy

  • EnCap Investments

Sabalo Energy Overview

About Sabalo Energy

Sabalo Energy is a privately held exploration and production company investing in oil and gas assets. Headquartered in Corpus Christi, Texas, it develops properties with partnerships among service providers, E&P firms, and financial backers via sabaloenergy.com.


Founded

2014

HQ

United StatesCorpus Christi, TX

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$715M (acquired May 2021)

Sectors

Sabalo Energy Acquisition

Sabalo Energy was acquired by Vital Energy for $715M on 9 May 2021.

Before the acquisition Sabalo Energy had raised $300M across 1 funding round.

Sabalo Energy acquisition details
AcquirerDateTypePrice
  • Vital Energy
9 May 2021Strategic M&A$715M

Sabalo Energy Funding History

Sabalo Energy has raised a total of $300M across 1 funding round.

Sabalo Energy funding rounds

Sabalo Energy funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2021Undisclosed stageEnCap Investments (lead)$300MSabalo Energy II, LLC, led by President Barry K. Clark, is an upstream exploration and production company focused on acquiring and developing large-scale unconventional oil and gas assets in premier U.S. basins to generate significant cash flow. On September 22, 2021, it closed an initial $300 million equity commitment from EnCap Investments L.P., a provider of growth capital to the U.S. energy sector's independent players. This follows their prior partnership where the Sabalo team acquired over 21,000 net acres in the Midland Basin, grew production to 14,500 Boe/d, and sold those assets to Laredo Petroleum on July 1, 2021, for $715 million in cash and stock. The prior Sabalo Energy entity, also backed by EnCap, demonstrated value creation by building and divesting large-scale asset packages in key development areas like the Midland Basin's Howard County. Laredo Petroleum's acquisition closed with aggregate consideration of $606 million in cash and 2.507 million shares after adjustments, adding oil-weighted leasehold and 14,500 Boe/d production from 21,000 contiguous net acres estimated to hold 30 million Boe P2P reserves. Initial announcements valued the deal around $640-715 million including cash and equity components. EnCap's renewed commitment underscores confidence in the Sabalo team's track record across market cycles, operational expertise in oil and gas basins, and ability to leverage past technological learnings for stakeholder returns with ESG focus. Legal counsel included Vinson & Elkins for EnCap and Bracewell for Sabalo.

Who has invested in Sabalo Energy?

1 investor has backed Sabalo Energy across its funding rounds, including EnCap Investments.

Lead investors include EnCap Investments.


Sabalo Energy Investors

Investors in Sabalo Energy by funding rounds participated
InvestorHQRoundsRoleFirst check

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Sabalo Energy Competitors

Sabalo Energy competitors include listed companies like Hallador Energy, Liaoning Energy Industry, GeoPark and Vitesse Energy, and private ones like Petronas (50% stake in two Brazil offshore fields) and PURE Technologies LLC.

Public and private companies comparable to Sabalo Energy
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Hallador EnergyUnited StatesUnited StatesPublicly listed$469M$99M$715M1.6x
Liaoning Energy IndustryChinaChinaPublicly listed$699M$83M$723M-
GeoParkColombiaColombiaPublicly listed$493M$208M$724M1.9x
Vitesse EnergyUnited StatesUnited StatesPublicly listed$274M$175M$747M3.1x
Petronas (50% stake in two Brazil offshore fields)MalaysiaKuala LumpurPrivate--$900M-
PURE Technologies LLCUnited StatesOklahoma City, OKPrivate$92M$15M$397M4.3x

Sabalo Energy Public Comps

Sabalo Energy is no longer listed, but its public comps include Hallador Energy, Liaoning Energy Industry, GeoPark, Vitesse Energy, IsoEnergy, Naphtha Israel Petroleum, Viridien, EnQuest, VAALCO Energy and WhiteHawk Minerals.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Hallador Energy$469M$99M1.6x1.6x7.4x14.7x
Liaoning Energy Industry$699M$83M1.3x-10.8x-
GeoPark$493M$208M2.1x1.9x5.0x3.5x
Vitesse Energy$274M$175M3.3x3.1x5.2x5.6x
IsoEnergy-($4M)--(145.4x)(49.0x)
Naphtha Israel Petroleum$812M$280M1.9x-5.4x-
Viridien$1.1B$272M1.6x1.5x6.1x3.4x
EnQuest$1.1B$894M1.4x1.3x1.7x2.5x

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Common questions about Sabalo Energy

When was Sabalo Energy founded?Sabalo Energy was founded in 2014.
Where is Sabalo Energy headquartered?Sabalo Energy is headquartered in Corpus Christi, TX, United States.
Is Sabalo Energy publicly listed?No, Sabalo Energy was acquired by Vital Energy in May 2021.
Who acquired Sabalo Energy?Sabalo Energy was acquired by Vital Energy in May 2021.
How much was Sabalo Energy acquired for?Sabalo Energy was acquired for $715M in May 2021.
How much funding has Sabalo Energy raised?Sabalo Energy has raised $300M across 1 funding round.
What was Sabalo Energy's last funding round?Sabalo Energy's last funding round was a $300M undisclosed-stage round in September 2021, led by EnCap Investments.
Who are Sabalo Energy's investors?Sabalo Energy's investors include EnCap Investments.
Which companies are comparable to Sabalo Energy?Companies comparable to Sabalo Energy include Hallador Energy, Liaoning Energy Industry, GeoPark, Vitesse Energy, Petronas (50% stake in two Brazil offshore fields) and PURE Technologies LLC.

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