Acquisitions & Divestitures - Joint Ventures
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.
The Houston-based companies executed an exclusive letter of intent for a joint venture with the undisclosed partner to jointly drill and develop their oil and gas prospects located offshore GoM.
The DrillCo deals, which trade interests for working capital, include Earthstone Energy’s Eagle Ford drilling in southern Gonzales County, Texas.
Under the agreement, Jericho will invest up to $9 million in acquisition and development capital to acquire a roughly one-third interest in the JV, marking the company's entry into the Stack play.
The relationship will combine the expertise of Microsoft in cloud and digital transformation with Halliburton's E&P science, software and services technology.
NNPC said it had a tripartite agreement with local Nigerian energy firm and international oil services company Schlumberger to develop the Anyala and Madu fields.
Like in a marriage, partners in an energy JV must plan ahead, communicate and develop trust.
Schlumberger formed a JV with HEAL Systems, formerly Production Plus Energy Services, to develop the company's production optimization technology and business in the U.S. and Canada.