Houston’s Memorial Production Partners LP will be a fully separate company and own its general partner after closing a deal with Memorial Resource Development Corp.
Schlumberger will buy coiled tubing units from a Canadian company while it looks to reduce 2016 global spending by nearly 25%, including up to 50% in North America.
Casillas Petroleum purchased 12,000 net acres from Chesapeake. In January, a Chesapeake subsidiary produced at least 17.2 MMcf/d on the acreage.
Corporate restructuring is a reality of today’s oil and gas landscape. As balance sheet and liquidity problems hit home, some companies have to consider drastic strategies.
Texegy LLC acquires working interest in Swift's Louisiana assets while note holders take control of the virtually all of the company's equity. The company holds 77,000 gross acres in the Eagle Ford Shale.
Though financial details of its deal will remain undisclosed, the sale of 19 GoM fields aids Chevron’s efforts to reach up to $10 billion in divestitures by year-end 2017.