XCL Resources Seeks FTC Approval for Altamont Energy Acquisition

(P&GJ) — The Federal Trade Commission is seeking input from the public regarding an application filed by XCL Resources Holdings, LLC, a subsidiary of private equity firm EnCap Investment L.P. The application seeks approval from the agency for its proposed acquisition of Altamont Energy, LLC, an oil and gas operator in Utah's Uinta Basin region.

XCL’s petition to the FTC stems from the Commission’s 2022 final order regarding EnCap Energy Capital Fund XI, L.P.’s $1.445 billion acquisition of EP Energy Corp. Under the terms of the final settlement, EnCap and XCL are required to obtain prior approval before acquiring any other producer of waxy crude oil with an output of more than 2,000 barrels per day in the Utah counties of Duchesne, Uintah, Utah, Grand, Emery, Carbon and Wasatch.

XCL is a private equity-owned oil and gas company based in Houston, Texas. It currently owns and operates wells in Duchesne and Uinta Counties, Utah, where it extracts black and yellow waxy crude oil and natural gas.

After the application is published in the Federal Register, the public will have 30 days to submit comments at Regulations.gov. Once submitted, comments will be posted to Regulations.gov.

The Federal Trade Commission works to promote competition, and protect and educate consumers.  The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can learn more about how competition benefits consumers or file an antitrust complaint. 

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