The company spent $835 million of its $2 billion budget in first-quarter 2015, but holds a $4.5 billion borrowing base and is shopping midstream assets.
Surge anticipates a deal for its southeast Saskatchewan and Manitoba assets will generate high returns in production and cash flow as it strains to boost net asset value amid low crude prices.
Parallax has pledged $2 billion to an LNG facility in Louisiana. The company is headed by a former BG Group executive who led efforts to create its world-leading LNG business.
Industry veteran Larry E. Lee, co-founder of RAM Energy Resources, recently acquired assets in the Permian and his latest transaction adds interests in the Hunton Reservoir.
An investigation revealed a Houston company profited through exaggeration of a South American prospect’s oil reserves while secretly paying a firm to promote it.
Goodrich’s Eagle Ford Shale position is located in Frio and LaSalle counties, Texas, near producers Chesapeake Energy, Cabot, Carrizo and EOG Resources.