Rice Energy Inc. (NYSE: RICE) announced July 8 that it plans to acquire 22,000 net acres and 12 Marcellus wells in western Greene County, Pa., from a Chesapeake Energy Corp. (NYSE: CHK) subsidiary.Rice will pay $336 million for 100% operated working interest, representing a 24% increase in the company’s net acreage position as of March 31.
Acquisition includes roughly 5,300 net acres that produce 82 million cubic feet per day.
Henry Hub spot prices from June 19-25 averaged $4.56 per million Btu (MMBtu) compared to $3.85/MMBtu a year ago.
Occidental had been trying to sell 40% of the operations to a group comprising the governments of Oman, Abu Dhabi and Qatar
Hawkwood Energy LLC, a private, independent upstream oil and gas company, has acquired producing and nonproducing assets in Brazos, Leon, Madison, and Robertson counties, Texas.The acquisition includes the purchase of Encana Oil and Gas (USA) Inc.’s (TSX, NYSE: ECA) assets.Hawkwood’s combined transactions include about 1,800 barrels of oil per day (bbl/d) of current production and more than 50,000 generally contiguous net undeveloped acres.
Chesapeake reduced its net debt by about $1.5 billion.