Oil and gas companies will spend about $450 billion buying each other this year.
‘The Anadarko Basin is not a five-minute story like other shale plays. It is more complex, but we like the optionality of either oil, gas or liquids, shallow and deep,’ said Four Point’s Brad Marvin.
When the price collapse is no longer the hot topic of discussion, we will get back to business in the property transaction market, analyst says.
Huge deals came back just in time in the summer of 2014 as the rest of the year unspooled a tickertape of declining oil prices. In 2015, deals will be made by aggressors and risk takers.
Oil prices at five-year lows are crimping cash flow for energy producers, which are selling shares to fund spending plans.
Caza, of The Woodlands, Texas, was to drill an initial horizontal Wolfcamp well on the Reeves County acreage.
The shale gas company’s deal comes after executives have said they want to sells assets to reduce debt.
The leases are specifically located in Crockett County, Texas, and include six horizontal wells currently producing in the Wolfcamp Formation.
Transactions for D-J acreage double reserves, cash flow and production to 1,000 boe/d, enabling the company to become cash-flow positive.
Fresh off one of the busiest years for A&D in its history, the Canadian oil and natural gas producer is seeing opportunities in the crude price collapse.
PEDEVCO, doing business as Pacific Energy Development (PED), also announced that it acquired about 13,000 net acres in the Denver-Julesberg Basin, alomst entirely in Weld County.
Memorial Resource Development consolidates into North Louisiana territory after trade of its East Texas and noncore Louisiana assets.