Sandridge Energy is boosting its position in the Rockies with the acquisition of debt-free Bonanza Creek Energy for about $746 million in cash and stock. The deal includes all of Bonanza Creek’s assets, including roughly 67,000 net acres in the D-J Basin’s Wattenberg Field and about 11,500 net acres targeting the Cotton Valley play in Arkansas.
Next, NAFTA is a big topic across the world right now. The topic surfaced this week during the North American Energy Forum in Houston that brought U.S. Energy Secretary Rick Perry and other officials from around the world to town. Talks to renegotiate the agreement are underway as the Trump administration looks for changes that aim to reduce trade deficits, among other goals. Still, NAFTA renegotiations could impact the success of the countries’ energy sectors as it relates to logistics, exports and costs.
Also this past week, Continental Resources CEO Harold Hamm, reiterated his concerns about the EIA’s oil production forecasts recently. This time he did it on the federal agency’s own webinar. Hamm said the EIA’s projections for U.S. crude oil production are too high, putting producers at a competitive disadvantage globally. He went on to say the overestimate, has been calculated by domestic energy producers alliance to have cost $4 billion in revenue, royalties and tax dollars.
And finally, a seal of approval: Nebraska regulators voted this week to approve TransCanada’s Keystone XL pipeline route through the state, lifting the last big regulatory obstacle for the long-delayed project that President Donald Trump wants built.
Recommended Reading
Marketed: EnCore Permian Holdings 17 Asset Packages
2024-03-05 - EnCore Permian Holdings LP has retained EnergyNet for the sale of 17 asset packages available on EnergyNet's platform.
Marketed: Navigation Powder River Eight Leasehold Lots in Wyoming
2024-04-09 - Navigation Powder River has retained EnergyNet for the sale of eight non-producing federal leasehold lots in Converse and Campbell counties, Wyoming.
Exxon Signals Potential Counter Offer for Hess’ Guyana Assets
2024-03-07 - Exxon Mobil has filed a contract arbitration claim related to Chevron’s proposed purchase of Hess Corp.’s interests in the Stabroek Block offshore Guyana.
US Proposes Second GoM Wind Lease Auction
2024-03-20 - Combined, the four proposed areas for offshore wind have the potential to power about 1.2 million homes if developed, according to the Interior Department.
Marketed: Haynesville Shale 157 Well Package in Louisiana
2024-02-23 - A private seller has retained EnergyNet for the sale of a Haynesville Shale 157 well package opportunity in Bienville, Bossier, Casso, De Soto and Sabine parishes, Louisiana.