Forge Energy LLC is marketing its operated Wolfcamp development in the Permian Basin.
The offering includes interest in about 12,000 gross/net acres in Pecos County, Texas. The Oil & Gas Asset Clearinghouse has been retained by the San Antonio-based company to handle the sale.
The land will add about 30 million tonnes of proven reserves of high-quality Ottawa White sand that will produce coarse and medium-to-fine grades for use in oil and gas proppants and in other industries.
PTTEP, which is also interested in buying a stake in Bongkot offshore gas field from BG Group, has cash of $3.7 billion, enough for acquisitions, Pannalin said.
Under the farm-out, UJO will acquire a 7.5% working interest in PEDL143 from Europa, paying 15% of the costs to drill the exploration well at Holmwood.
Transaction’s total value is $112 million. There are 156 billion cubic feet of 1P reserves, 62 producing wells and 14 waiting on completion; and there are more than 170 de-risked locations.
More than 79,000 inactive Alberta wells could become Orphan Well Association’s responsibility due to May 18 ruling giving lenders priority over environmental cleanup costs in oil and gas bankruptcies, Reuters reported.
Harmonia Petroleum Corp. is offering its operated core Permian Basin oil and gas assets in Howard and Borden counties, Texas.
The offering includes leases covering more than 16,000 gross (15,000 net) acres in the Midland Basin. The assets have been largely de-risked and further delineated through horizontal drilling by offset operators, according to CohnReznick Capital Markets Securities LLC, which has been retained as the company’s exclusive adviser.
There are about 1,330 barrels of oil equivalent per day (boe/d)--76% light oil and liquids—being produced in the Alameda and Elcott areas of southeast Saskatchewan.
Hawkwood will continue to seek "additional similar opportunities to acquire quality assets to add to our East Texas position," CEO Patrick Oenbring says.
The London-listed company satisfied the US$14,411.56 consideration through a cash payment. Highlands said that its total acreage holding in the area is now 3,951.93 acres.
Argent Energy Trust owns, operates and manages oil and gas properties located primarily in South Texas' Eagle Ford Shale and Wyoming's Powder River Basin.
Brett A. Murray, COO of Virtus, said that the upside of owning minerals is that zero capital is needed to participate with Encana on this project.
|E&P||USD 4400||Members only||Memorial Resource Development Corp.|
|E&P||CAD 595||Members only||Husky Energy Inc.|
|E&P||CAD 475||Members only||Athabasca Oil Corp.|
|E&P||USD 0||Members only||JX Nippon Oil & Gas Exploration Corp.|