CohnReznick Capital Markets Securities has been engaged to serve as the exclusive advisor to Harmonia Petroleum Corporation (HPC), a Houston-based private oil and gas company affiliated with Shanghai, China-based fund, Harmonia Capital Group. CohnReznick Capital Markets Securities will advise HPC on the sale of its operated core Permian Basin oil and gas assets located in Howard and Borden Counties, TX.
HPC currently owns and operates the leases of more than 16,000 gross acres (15,000 net acres) in the Midland Basin, which is located within the greater Permian Basin.
"The Permian Basin has remained resilient for its resource potential and strong well economics, even in today's volatile market. This particular asset has been largely de-risked by Harmonia and further delineated through horizontal drilling by a number of offset operators," said Sam (Yinglin) Xu, Head of oil and gas investment banking at CohnReznick Capital Markets Securities.