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The arrangement gives Comstock the ability to continue expanding its footprint in the Haynesville while minimizing its upfront cash outlays, an analyst said.
The agreement would also ensure that future Nigerian payments to production JVs with oil majors would be paid in time, says the country's oil minister.
Baker Hughes retains a minority stake in the new company, but analysts are skeptical the transaction was a fair bargain.
The audit office questioned the eligibility of deductions claimed for the cost of debt and equity funded capital and the excise paid on crude and condensate, Reuters reported.
Rowan will supply two more rigs in late 2018 and Saudi Aramco will make a matching cash contribution, Reuters reported.
PetroQuest expects to pay about 69% of the drilling and completion costs for a 75% working interest in the initial well.
The JV, called Permian Express Partners, will consist of assets owned by both companies, according to a statement. Sunoco Logistics will take a stake of 85%, while ExxonMobil will control the remaining 15%.
Noble will pay $205 million to end the arrangement, which will increase Consol’s Marcellus footprint in Pennsylvania.
The JV, anticipated to commence in second-quarter 2017, will leverage Nabors' established business in Saudi Arabia to begin operations, with a focus on the kingdom's existing and future onshore fields.
Several maneuvers to free liquidity will likely fund the Houston-based company through 2018, analysts said.
Mexico's oil regulator gave oil companies an extra week to submit comments and questions about the country's first-ever deepwater joint venture covering state oil company Pemex's Trion Field.
Located in Mozambique's Rovuma Basin, Eni's Area 4 is one of the biggest recent discoveries, holding about 85 trillion cubic feet of gas, Reuters reported.