Houston-based offshore oil and gas producer QuarterNorth Energy — created last year from the remains of Fieldwood Energy — is reportedly considering looking for a buyer.

The privately-held company is considering options to take advantage of high comodity prices, including the prospect of an outright sale, which could be worth more than $2 billion, the news agency Reuters reported.

QuarterNorth was created from the remains of Fieldwood Energy, a major Gulf of Mexico producer which entered Chapter 11 bankruptcy for the second time in three years in August 2020.