Investments in infrastructure, data collection and obtaining the right acreage early on have helped Laredo secure ‘tremendous savings’ in the Permian Basin.
The acquisition will nearly double Ring's daily production from its Permian Basin assets while also creating another core growth area in West Texas.
Riverstone has spent the past two years beefing up companies in Norway, the Midcontinent, Mexico, the Bakken, Permian Basin and continues to make energy bets despite a down market.
An influx of private capital paves the way for transactions.
An analyst argues that Noble’s D-J Basin assets may not have the firepower touted by the company, while another says the merger may prove to be the way large deals get done.
Parsley, like Pioneer Natural Resources and RSP Permian, is ready to deploy more rigs by June and up spending if oil strengthens despite a rocky ride in the Permian Basin.
Tanzania could lead East Africa LNG exports through Shell’s takeover of BG Group, Bloomberg said. Stakes in three blocks offshore Tanzania, holding one-third of estimated resource, are included in deal.
Carrizo works out a farm-out agreement in Texas that will build on its acreage while Emerald plans to drill five wells on estimates of 400 locations in New Mexico.
The company is looking into testing the potential of the Meramec Shale on its Midcontinent acreage later this year using proceeds from the noncore sale.
The unit has the potential to add an additional 15 operated Bakken and Three Forks wells to its North Fork inventory.
The sale is the company’s second transaction monetizing its holdings in the Marcellus as part of the gas-to-oil strategy it unveiled in early October.
An investigation revealed a Houston company profited through exaggeration of a South American prospect’s oil reserves while secretly paying a firm to promote it.