Acquisitions & Divestitures - Joint Ventures
Swift Energy in July quietly entered a small joint venture with Indonesia’s PT Saka Energi to develop a parcel of the Eagle Ford Shale within the largely forgotten lean gas window.
ZaZa will receive about $17 million, in total consideration, of cash and the right to receive Quantum’s interest in the next 15 joint venture wells in the area.
Cone Midstream Partners LP will provide the two companies with gathering services in the Marcellus, Consol said.
Carrier will have the right to participate in 49% of Panther's working interest in wells drilled.
The agreement covers a defined area of 8,011 net mineral acres in Dundy County and provides for the drilling of up to 10 wells.
Swift will use the proceeds to reduce the borrowings under its credit facility, and to fund Eagle Ford property developments, the company said.
The lease has 1,520 acres, Dejour noted.
The companies entered an agreement to drill natural gas wells in Montana, Norstra said.
The deal covers about 17,900 gross Woodford Shale acres.
The two firms formed a joint venture focused on the Eagle Ford Shale, Titanium said May 29.
The deal concerns more than 20,000 gross acres of Merrion’s existing leasehold.
The new joint venture’s terms have both companies holding 50% working interest in two projects, Saturn said.