London-based GlobalData’s latest monthly upstream deals report said oil and gas companies spent most of their capital on acquiring Americas-based companies, announcing a total of $703.7 million in March.
Eldar Saetre didn’t comment on Statoil’s deals strategy, but speculated more deals will follow Shell’s purchase of BG, Bloomberg said. Sellers’ high valuation expectations are problematic, he said.
There are 136 net potential low-risk, high-quality horizontal drilling locations. Only 12 have been assigned reserves in the current reserve report. Some land is under waterflood for pressure maintenance.
About 90% of oil and gas assets owned and operated by Pinecrest went to Virginia Hills, and all of Pinecrest’s outstanding shares and certain assets went to Cardinal, for CA$23.5 million.
EnergyNet has been retained to handle the transactions for WillisChild of Snyder, Okla.
Dan Revers, managing partner and co-founder of ArcLight, said the firm has a long track record of investing in refined products storage and pipeline infrastructure.
The land includes the majority of an oil pool that has produced more than 6 million barrels of medium gravity oil to date with a relatively shallow decline rate.
A Precambrian well was drilled and cased. The property has a Nisku Formation proven gas prospect. A completion test produced about 1 million cubic feet per day of natural gas.
Oil and natural gas company South Bay Resources Canada has properties in central Alberta. Sayer Energy Advisors was engaged to assist with a strategic alternatives process.
JP Energy Partners LP will acquire the assets of Southern Propane Inc. for about $14.9 million, Business Wire said. JP also announced plans for its Silver Dollar Pipeline system.
Riviera-Ensley Energy Advisors has been retained to handle the sale of assets.
Global Partners LP will purchase 97 Mobil- and Exxon-branded retail gas stations and seven dealer supply contracts for about $156 million. The stations are in New York and Maryland/Washington D.C.
|E&P||USD 70000||Members only||BG Group Plc|
|E&P||USD 71.3||Members only||Trans Energy Inc.|
|Mid||USD 575||Members only||EV Energy Partners LP|
|Mid||USD 500||Members only||Fermaca Infrastructure B.V.|