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.
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.
There were 206,712 net acres in the CA$21 million transaction. Most of them are in section 8 and three quarters of section 26, across a 14-by-18 township east of Edmonton.
The nearly-285,000 gross acre license is northwest of PL032 license, which includes the Sea Lion oil discovery. Argentina recently filed criminal charges against Noble and other E&Ps in the Falklands.
The Oil & Gas Asset Clearinghouse, a leading provider of A&D advisory services for oil and gas properties, has been selected to exclusively market assets in Texas, Oklahoma and Arkansas on behalf of QEP.
Garth Braun, chairman, president and CEO, said the company can now attract midstream investments for takeaway. Blackbird now has 51,840 acres in its core project.
A French satellite systems operator, Collecte Localisation Satellites SA, bought U.S. Gulf of Mexico-focused Horizon Marine Inc. Horizon provides metocean forecasting services. No transaction details were provided in a press release.
The lease in Coleman County, Texas, is on 206.5 acres in a multiple pay zone. Ellenburger, Gray, Gardner, Jennings, Upper Capps and Morris are historically productive formations.
|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.|