Bloomberg Law
March 17, 2023, 3:17 PM

Gas Driller Escondido Said to Test Market for South Texas Assets

Rachel Butt
Rachel Butt
Bloomberg News

Closely held gas driller Escondido Resources is working with financial advisers to test the market’s appetite for its assets in South Texas, according to people with knowledge of the situation.

The Mountain Capital-backed company is having discussions with some larger peers about a potential deal, said the people, who asked not to be identified because the talks are private. Escondido is inviting select parties to look at its assets and has not yet launched an official sale process, they said. It’s not clear what the assets could fetch in a potential sale.

Representatives for Escondido and Mountain Capital declined ...