‘The Anadarko Basin is not a five-minute story like other shale plays. It is more complex, but we like the optionality of either oil, gas or liquids, shallow and deep,’ said Four Point’s Brad Marvin.
Inside the deal for the historic field near the southwestern edge of the Powder River Basin. It has produced 28.5 million barrels (MMbbl) of oil with an estimated 300 MMbbl in place.
The shale gas company’s deal comes after executives have said they want to sells assets to reduce debt.
Transactions for D-J acreage double reserves, cash flow and production to 1,000 boe/d, enabling the company to become cash-flow positive.
Memorial Resource Development consolidates into North Louisiana territory after trade of its East Texas and non-core Louisiana assets.
Gulf Coast refiners could be in the running as assets offer more power over supply chain..