Acquisitions & Divestitures - Exclusives
The acquisition by Genstar follows Drillinginfo’s recent addition of transaction-tracking businesses 1Derrick and PLS to its offerings.
Energy XXI said it will terminate its previously announced partnership with Orinoco Natural Resources as a result of the Cox Oil transaction.
Also this week, Phillips 66 to expand Texas NGL project. Meanwhile, Exxon Mobil and Plains pursue Permian pipeline JV and Pioneer sells Colorado assets.
The proposed acquisition is expected to more than double DGO’s daily production from legacy gas wells in the Appalachian Basin.
Pioneer Natural Resources continues to sell assets as it moves toward becoming a Midland Basin pure-play.
The Delaware Basin acreage trade will also increase Lilis’ current net production, bringing it closer to achieving its year-end target earlier than expected.
Enduro lined up four stalking-horse bidders—the most recent being Comstock—after a prior reorganization failed to remedy its financial woes.
Also this week, FourPoint and Double Eagle Energy are joining forces to form a pure-play Midland Basin company.
In conjunction with the sale, Devon’s board has increased the size of the company’s share-repurchase authorization to $4 billion.
George Solich’s FourPoint will join forces with Double Eagle to form DoublePoint with more than 70,000 acres in the core of the Midland Basin.
Minerals dealmaking this past week includes Kimbell’s Haymaker transformation and the formation of a first-of-its-kind Eagle Ford minerals company.
Midstates Petroleum announced the sale earlier this year with proceeds of $58 million earmarked to pay down debt.