Warburg Pincus Is Said to Weigh Sale of Explorer Hawkwood Energy

Private equity firm Warburg Pincus is working on a sale of an oil and gas portfolio company Hawkwood Energy, according to people familiar with the matter.

The firm is working with an adviser to find a buyer for the Denver-based oil and gas exploration and production company, said the people, who asked not to be identified because they weren’t authorized to speak publicly.

A deal is likely to value Hawkwood at less than $1 billion, the people said.

Warburg’s plans aren’t final and it could opt to keep the asset.

A representative for New York-based Warburg declined to comment. ...