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Oil & Gas Asset Clearinghouse Auctions Off Most Lots

After months in a timid A&D market, interest may be starting to return at oil and gas auction houses.

The Oil & Gas Asset Clearinghouse said May 21 that it had sold the vast majority of 66 lots offered. So far sales have rung up roughly $24 million.

Clearinghouse marketed about 1,400 distinct oil and natural gas properties at the May auction. Another is planned for July, an indicator that the market for properties is returning, Clearinghouse said.

Darren Barbee
Thu, 05/21/2015 - 14:35
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Gale Force Will Sell 80% Of Pine Mills Property

The Pine Mills property is in Wood County, Texas. The transaction is scheduled to close in June. Gale Force had a 99% working interest in the property. 

Thu, 05/21/2015 - 11:14
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Petroshare Corp. Closes Wattenberg Acreage Acquisition

The acreage is in parts of Township 1 South, Range 67 West in Adams County, Colo. Acquisition was made through strategic land and leasing services agreement with Kingdom Resources LLC.

Thu, 05/21/2015 - 10:59
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Verisk Analytics Closes Wood Mackenzie Acquisition

Data analytics provider Verisk Analytics Inc. completed its acquisition of industry research firm Wood Mackenzie Ltd. The purchase price was 1.85 billion British pounds, about US$2.8 billion.

Wed, 05/20/2015 - 16:48
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Oil M&A Activity Might Rise In 2016

The Permian Basin is prime for M&A interest. There could be consolidation in the Eagle Ford as producers try to drive efficiencies and lower costs, a Citigroup executive told Bloomberg. 

Wed, 05/20/2015 - 11:55
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Dynamic Industries Saudi Arabia Will Support Saudi Aramco Offshore Work

Saudi Aramco will receive engineering, procurement, construction and installation services, fabrication services and facility maintenance for development of non-associated gas fields and production as it expands offshore to Red Sea. 

Wed, 05/20/2015 - 08:30
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Pavilion Energy Offers British Columbia, Alberta Acreage

Pavilion Energy Corp. has prospective acreage in identified drilling locations in the Paradise/Rigel area of British Columbia and the Darwin area of Alberta. Proposals will be accepted until June 11.

Tue, 05/19/2015 - 12:36
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Spectrum, Schlumberger Enter Seismic Data Processing Agreement

Through a cooperation agreement, multiclient seismic imaging company Spectrum Geo and oilfield services company Schlumberger Ltd. will jointly acquire and process Spectrum’s offshore Mexico Campeche-Yucatan 2-D regional multiclient program.

Tue, 05/19/2015 - 10:56
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Working Interest, Operations In Nine Texas Panhandle Wells For Sale

An undisclosed seller wants to divest its operated and nonoperated working interest in nine wells located in the Texas Panhandle as well as leasehold acreage, according to retained EnergyNet, which has been retained to handle the transaction.

The interests are being sold in a sealed bid offering.

Darren Barbee
Tue, 05/19/2015 - 09:00
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Geodynamics Acquires Connor Oil Tools

Saginaw, Texas-based Connor Oil Tools manufactures well intervention products, and they will join the product range of  Legacy Oil Tools, said David Wesson, Geodynamics’ president and CEO. 

Mon, 05/18/2015 - 15:55
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Investors Purchased Pioneer Natural Resources Stakes

Investor Seth Klarman’s Baupost Group bought $517.8 million worth of shares in Pioneer Natural Resources Co., Bloomberg said. Investor Stan Druckenmiller’s Duquesne Family Office took a $36.7 million stake.

Mon, 05/18/2015 - 11:39
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Nostra Terra Acquires San Miguel Prospect Acreage

London-based Nostra Terra said May 18 it acquired 1% working interest in the San Miguel Prospect in South Texas.  The 35,000-acre acquisition, and the 20,000-acre Don Pedro Prospect acquisition April 27, have similar characteristics.  

Mon, 05/18/2015 - 10:36

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