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Alpine 4 Technologies Ltd. acquired Horizon Well Testing oilfield services company for $5.5 million, effective immediately, a Jan. 11 press release said.
The sale included 14 gross wells and about 4,100 net acres in Guernsey, Noble and Belmont Counties in Ohio; the assets are currently producing about 9 million cubic feet equivalent per day.
Tullow estimated the development phase of the project would cost $5.2 billion, of which $3 billion will be required to reach first oil production, Reuters reported.
Through the agreement, it could acquire more than 6,000 acres and up to 16 shut-in wells on Native American tribal lands in the Uinta Basin.
The adjusted effective disposition date is Jan. 1, and the transaction is scheduled to close Jan. 18. The purchaser provided Kelt a CA$10 million deposit that will be held in escrow until closin
John P. Boylan, Houston American’s CEO and president, said the company will initially target the Wolfcamp Shale and Bone Springs formations, known as the Wolfbone play.
Magnum Hunter Resources Corp. divested the shallow well contract drilling rig services business of subsidiary Alpha Hunter Drilling LLC to an undisclosed buyer, the company said Jan. 3.
Whiting Petroleum Corp. (NYSE: WLL) closed the sale of its 50% interest in its Robinson Lake natural gas processing plant and associated natural gas gathering system in North Dakota, the company said Jan. 3.
Enerplus Resources (USA) Corp. closed the sale of its non-operated assets in North Dakota for total cash consideration of US$292 million (about CA$390 million), the Enerplus Corp. subsidiary said Jan. 3.
Sentinel Peak Resources operates the properties, which currently produce about 28,000 barrels of oil equivalent per day.
Piracuca was declared commercial in 2009, but further studies showed the area was not commercially viable, Petrobras said in a statement sent to Reuters.
Centennial also said that the $910 million private placement of equity has closed, proceeds from which funded the Silverback acquisition and also supported general corporate purposes.