Fieldwood Energy will purchase Noble’s GoM assets in a deal valued at $710 million, including $480 million in cash and $230 million in assumed liabilities.
Linn Energy has sold more than $1.8 billion in assets as it prepares to divide into three companies, including one in the Oklahoma Stack.
The Hart Energy video team brings a closer look from the exhibit floor at the 2018 NAPE Summit, which drew more than 12,000 attendees this year to downtown Houston.
WildHorse Resource Development sold about 90,000 net acres in North Louisiana for $217 million, with net proceeds to prop up drilling in the Eagle Ford Shale where the company also bought acreage.
A&D - E&P
The Interior Department said it would offer 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida, an auction that includes all available unleased areas in the Gulf of Mexico.
Drillinginfo Co-Founder and Executive Chair Allen Gilmer sat down with Hart Energy recently to give his outlook for U.S. oil and gas producers.
Budget deal triples the tax credit for injecting carbon dioxide to bolster crude output.
Oil producer Cenovus Energy Inc.’s said Feb. 15 its fourth-quarter profit soared, as production nearly doubled and the Canadian company reined in expenses.
Also supporting oil prices was a statement from the UAE energy minister late on Feb. 15 saying oil producers led by Saudi Arabia and Russia aimed to draft an agreement on a long-term alliance by year-end.
At the recent NAPE Global Business Conference, panelists from Hess and Akin Gump gave insight on what plays into developing resources in the Lower 48 or international deepwater.
The most notable action last week took place in the storage hub of Cushing, Okla., where crude stocks fell by 3.6 million barrels, the EIA said.
Saudi Arabia's Energy Minister Khalid al-Falih sounded an upbeat note even after the price drop, saying on Feb. 14 he was sure cooperation between OPEC and its non-OPEC allies will continue to stabilize the market.
WildHorse Resource Development Corp. (NYSE: WRD) said on Jan. 18 it has been selected for a department of energy study, alongside the Texas A&M Engineering Experiment Station (TEES), to develop a new field laboratory in the Eagle Ford Formation.
New JV purchases pipeline for $625 million.
The JV between Comstock and a NextEra subsidiary, USG Properties, will now include four wells targeting the Bossier Formation in Sabine Parish, La.
Chaparral will temporarily trade much of its working interest to Bayou City Energy in exchange for up to $100 million in capex.
Mergers & Acquisitions
Deal positions Granite as a national leader across both transportation and water infrastructure markets
The proposal calls for Midstates to offer SandRidge investors 60% of the company but manage the combined assets in what Midstates says would be the largest Mississippian Lime E&P.
Royal Dutch Shell (NYSE: RDS.A) has spent over $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its carbon footprint.
Atnipp brings expertise in oil and gas to Winston & Strawn transactions practice.
Canadian pipeline operator aims to sell assets valued at C$8 billion.
State Department nominee advocates other ways to decrease Europe’s dependence on Russian gas.
Reduced volumes of oil in storage indicate that production restraint by OPEC, Russia is effective.
As costs rise in the Marcellus-Utica, operators seek arrangements on how to manage expenses.
Service & Supply
Tidewater Logistics said the capital investment by Apollo will fund a pipeline of new customer and expansion opportunities. The terms of the transaction weren't disclosed.
Dover's spin-off transaction for its "Wellsite" upstream energy businesses, on track for completion in May, will be named Apergy and be headquartered in The Woodlands, Texas.
Vallourec specializes in making tubular products for the energy and other industrial sectors. It has about 19,000 employees worldwide, while its drilling products division employs roughly 600 people.
The investment, which is the New York-based firm’s first since closing Blue Wolf Capital Fund IV LP at its hard cap of $540 million in September 2017, is expected to facilitate rapid expansion at Petrosmith.