Miller Energy was closing in on $165 million in financing in the summer until the lender pulled out, citing an SEC investigation and the involuntary bankruptcy of a subsidiary.
Anchorage already owns a third of the Beluga River Unit’s interest and is considering adding 5,700 acres ConocoPhillips is divesting. The purchase has encountered little opposition.
“We had trouble competing because we were not willing to buy in to and underwrite deals based on what we viewed to be substantial price upside on the oil side,” said Scott R. Smetko, director, in a webcast at EnerCom’s The Oil & Gas Conference.
Denver’s Resolute, battling back debt, could gain $158- to $237 million from the sale of its acreage in the Gardendale area of West Texas, an analyst said.
In 2015, Chesapeake is poised to outspend its discretionary cash flow by $1.3 billion. The company will take a $55 million one-time charge as it lets 740 employees go.
Through a combination of cash, revolver and proceeds for the sale of its midstream assets—acquired from Royal Dutch Shell—Sanchez’s liquidity will shoot to more than $900 million.