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The deal, which adds a second core operating area to PDC's portfolio, consists of about 57,000 net acres in Reeves and Culberson counties in West Texas.
Fresh from recent Permian deal making, WPX Energy and QEP Resources have both signaled their intent to continue hunting for acquisitions.
The combined company will be known as Marquee Energy Ltd., and will provide shareholders exposure to a dominant land position in the Michichi oil fairway, with 2,600 barrels of oil per day of production.
Enterprise's approach came after peer Energy Transfer Equity terminated its merger agreement with Williams in June after a prolonged legal battle.
Chesapeake entered the shale boom in the Barnett on its way to becoming the second-largest natural gas driller in the U.S.
The Denver company said it entered a definitive merger agreement with Tellurian Investments Inc. to acquire the private company headed by former executives of Cheniere Energy and BG Group for an undisclosed amount.
In June, Antero purchased 55,000 net acres from Southwestern Energy and will now buy Statoil’s interests in the same acreage.
At closing, the combined company is estimated to have production of 650 boe/d from assets in California's Sacramento, San Joaquin and Los Angeles basins and West Texas' Permian Basin.
Smaller upstream M&A transactions drive overall rise in second-quarter 2016, but midstream deals topple from perch, PwC report says.
InterOil owns a 36.5% stake in the gas-rich Elk-Antelope field in Papua New Guinea, which is expected to be the main source for ExxonMobil's proposed Papua LNG project.
The company has inked two deals in 2016 and says it has more opportunities it is exploring as it expands during the downturn.
According to a presentation filed with the U.S. Securities and Exchange Commission on July 12, InterOil received three proposals, including Oil Search's, to sell the entire company during its initial sale process.