Headlines: Titan Shifts Focus; First-Quarter A&D Activity Abounds

In this week’s video sponsored by DNV GL: the Permian isn’t the only focus of dealmakers. Titan Energy recently agreed to sell its conventional Appalachia and Marcellus assets to Diversified Gas and Oil for $84 million. Titan will use the money to pay down debt as it shifts focus to its Eagle Ford position. Additionally, there’s been a great deal of A&D activity in the first quarter elsewhere. WPX Energy added nearly 18,000 net acres in the Delaware Basin in Culberson County, Texas. Laredo Petroleum also grew production while adding Permian acreage in Glasscock and Reagan counties, Texas. And Jones Energy added acreage in the Merge for an average price of $7,500 dollars per acre.

Sources:

• Titan Sells Appalachia Assets For Eagle Ford Future
• WPX's $38 Million Permian Bolt-On; Other E&Ps Graze On Deals
• 2017 A&D Outlook: The Big Truck Without Brakes