The MLP and its private equity backer Quantum Energy team up for acquisitions in a distressed market, but A&D may not kick into high gear until second-half 2015.
In the face of economic turmoil, Southwestern Energy has sold $700 million in assets following its multibillion-dollar acquisition in the southwest Marcellus Shale.
With the shock value of 20% to 80% capex cuts fading, producers might start pulling back production as the oil market keeps tightening and Saudi Arabia flexes its economic muscles.
With the barn-burner rumors of a huge sale gone, the Bakken behemoth looks to raise liquidity with debt and share offerings to overcome about $1 billion in capex outspend.
In the span of two days Southwestern Energy sells its Pennsylvania gathering system, along with its East Texas, Arkoma Basin assets for more than $700 million.
Whitecap Resources pays $115,200 per boe/d for production in the Viking, a highly economical oil asset near the Kerrobert area of west central Saskatchewan.