Exploration & Production - News
Petroleum International retained Meagher Energy Advisors to sell two packages of assets across several states. The first package is comprised of nonoperated working interest and the includes royalty interest.
Oil rose by more than 1% on Nov. 12, set for its largest one-day increase in a month after Saudi Arabia said OPEC and its partners believed demand was softening.
Oasis Petroleum agreed to sell midstream interests in a $250 million dropdown to Oasis Midstream Partners that the Houston-based company said will improve its leverage position.
Massif Oil & Gas said it partnered with NGP to form Massif II in hopes of leveraging its proprietary relationships and operational expertise for another go-around in the Powder River Basin.
Ultra Petroleum tapped David Honeyfield to succeed CFO Garland Shaw, who did not relocate from Houston following the recent move of the Wyoming gas producers’ headquarters to Englewood, Colo.
Roxo Energy sold its position in the Northern Midland Basin within the Permian to Murchison Oil and Gas in a deal that comes only 20 months after Roxo’s entry into the play.
In addition to Janet Yang’s appointment as CFO and the departure of COO Thomas Murphy, W&T Offshore also announced the promotions of vice presidents David Bump and William Williford.
Jeffrey S. Balmer will join Callon Petroleum from Encana to serve as senior vice president and COO of the Permian Basin operator following the retirement of Gary A. Newberry.
Colorado voters on Nov. 6 rejected a measure, known as Proposition 112, a move opponents said would have sharply limited new oil and gas wells in the fifth-largest oil producing state in the nation.
Devon Energy Corp. on Nov. 6 reported a jump in quarterly profit as the oil producer gained from the sale of its stakes in pipeline operator EnLink Midstream.
The attempted divestment is the latest to emerge from the U.S. GoM as higher oil prices allow those with capital-intensive investments in the basin to sell them at much more attractive valuations than in recent years.