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.
The assets currently produce 275 million cubic feet of gas equivalent per day.
Deal frees up more capital to focus on liquids-rich plays.
The division would become part of a new company called Entrada Midstream.