The JV significantly increases Rice's leading midstream position in the core of the Utica Shale.
Sanchez intends to invest about $115 million and receive a 50% ownership interest in the plant and pipelines, which will be located near its Catarina asset in the Eagle Ford.
Torchlight Energy Resources Inc. (TRCH) said Sept. 29 it has entered into a $50 million joint venture (JV) to develop its Orogrande Project mainly in the Texas Permian Basin.
As part of the JV, Founders Oil and Gas LLC will buy 50% working interest in the project for $45 million in developmental capital to be deployed during the next two years.
After reaching the total agreed expenditure, Torchlight and Founders plan to fund future development costs equally on a "heads up" AFE basis.
Featuring exclusive video with Torchlight COO Will McAndrews III.
Wexpro, Questar's subsidiary, said it expects to spend $60- to $70 million on an 80-well drilling program targeting the Mesaverde Formation.
Noble’s Freeman talks about $4 billion deal with Rosetta that added the Eagle Ford and Delaware to the buyer’s portfolio.
Energy Information Administration estimates Mexico has more than 60 billion barrels of shale resources. This would provide more than 35 years of Mexican oil supply at current U.S. production levels.
Witnesses said a car bomb caused severe damage to first floor of headquarters of Mellitah, an oil and gas joint venture between Italy's Eni and Libya’s state-owned NOC, Reuters reported.
The farm-in deal comes in the wake of reports that McClendon was eyeing Australia’s McArthur Basin as a shale hotspot for his first venture out of the U.S.
In the second quarter of 2015 deal activity and values climbed as oil hung around the $60 level, then transactions pulled back as oil prices fell below $42.
Depending on the size and nature of the transaction, the amount provided will vary. Roe Patterson, Basic’s president and CEO, said some smaller acquisitions have already been made.
Emerald said Aug. 3 it has an agreement worth about $24.4 million with a subsidiary of Koch Industries and is also working on a midstream JV in the Williston Basin.
Drill-to-earn JVs have benefits, but investors should keep in mind these caveats.