Houston-based Harvest has tried twice to sell its Venezuelan assets. The company holds a 20% stake in Petrodelta, a joint venture with state-owned Petroleos de Venezuela SA, Reuters said.
The shares were priced at AU$35 each, and proceeds will be $135,000,035. San Ramon, Calif.-based Chevron will receive the cash proceeds upon settlement on April 2.
The pipeline will move 80,000 barrels of crude oil from Longview, Texas, to Shreveport, La., and El Dorado, Ark. The joint venture between the companies creates Caddo Pipeline LLC.
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 company is also seeking a JV partner and leadership is considering the sale of selected assets in the Marcellus.
Oil price sensitivity heightened as $5 WTI change moves cash flow by $350 million.
Chongqing holds over 2 trillion cubic meters of exploitable shale gas, according to the municipal government.
In addition, Denver-based PDC announced its borrowing base increased to $700 million from $450 million following the recently completed semi-annual redetermination of its revolving credit facility.
Petro River's executive vice president, Daniel Smith, said that investors and the industry are becoming more involved in the area.
For about $17 million, acreage in several East Texas counties was given to an affiliate of Quantum Energy Partners, ZaZa said.
The partnership takes an unconventional approach with opportunities in the Eagle Ford and Cooper Basin.