Sept 13 (Reuters) - CrownRock LP is preparing to explore a sale that could value it at well over $10 billion including debt, people familiar with the matter said, in what could be the largest deal for a U.S. oil and gas producer going back at least three years.
The sources cautioned that no deal is certain and requested anonymity because the matter is confidential.
It also underscores how coveted spots are in the lucrative Permian basin, the largest U.S. oilfield, where CrownRock operates.
Credit ratings agency Fitch said in December 2021 that CrownRock had more than 15 years of oil and gas to extract in its prime drilling locations.
CrownRock is led by Dunn, who - through his family's CrownQuest Operating LLC - rolled his previous oil and gas assets into the partnership with Lime Rock.
Persons:
Timothy Dunn, Fitch, CrownRock, Dunn, David French, Diane Craft
Organizations:
Exxon Mobil Corp, Chevron Corp, Chevron, Exxon, ConocoPhillips, Concho Resources, CrownRock, Competition, Lime Rock Partners, Lime, Thomson
Locations:
U.S, Texas, Midland, dealmaking, New York