A&D - E&P
Steven D. Gray, CEO of RSP Permian Inc., and Kyle D. Miller, president and CEO of Silver Hill Energy Partners
Art Krasny, managing director of Wells Fargo Securities
Seven years since its last assessment, additional drilling and data show the shale plays outshine the Marcellus and Utica, both of which were last assessed at the beginning of the decade.
A hedge fund wants BHP to split from its U.S. oil business, including the Gulf of Mexico, which it sees as a $22 billion misfit.
Non-Canadian companies have sold or announced divestments of $25.6 billion since 2016.
Carbon Natural Gas plans to fill a hole left in conventional areas by larger E&Ps that have moved on to the Marcellus and Utica shales.
The Delaware Basin E&P’s team has twice before sold its Permian holdings, each time for at least $1 billion.
The value of the assets’ production exceeds the $57 million cash price, an analyst said.
The company expanded its leasehold in Lea County, N.M., in an area called Antelope Ridge, also known as the Red Hills area.
The acquisitions add to the 210,000 net acres Devon Energy sold to White Star in 2016.