Three of five Gulf of Mexico blocks offered were awarded during the second phase of Mexico’s Round One.
Denver’s Resolute, battling back debt, could gain $158- to $237 million from the sale of its acreage in the Gardendale area of West Texas, an analyst said.
In 2015, Chesapeake is poised to outspend its discretionary cash flow by $1.3 billion. The company will take a $55 million one-time charge as it lets 740 employees go.
Through a combination of cash, revolver and proceeds for the sale of its midstream assets—acquired from Royal Dutch Shell—Sanchez’s liquidity will shoot to more than $900 million.
Bill Barrett improves its liquidity with the deal and also announces plans to reduce capex, idle a rig and enjoy robust oil and gas hedges while still growing production.
Energy Transfer tweaks its June offer with $6 billion in cash and will form a partnership that will be treated as a corporation for tax purposes called Energy Transfer Corp. LP.
Shell has spent about $7 billion on exploration in the waters off Alaska so far and said it could take a hit of up to $4.1 billion for pulling out of the Chukchi Sea for the "foreseeable future".
E&Ps in the Bakken, Eagle Ford and Permian have made strides in well completion efficiencies and costs. Though, even with increased recoveries, opening up production at low prices sits poorly with the industry.