Syncrude is a JV operation in the Alberta Sedimentary Basin, which extracts bitumen from oil sands and upgrades it to light synthetic crude oil. Production averaged 15,600 boe/d (net) in the first quarter of 2016.
The new entity, Stagecoach Gas Services LLC, will have an implied market value of about $2 billion, the companies said in a statement.
The Thai company said in a statement the deal was its first in the U.S. upstream gas business and was part of its strategy to balance its heavy exposure to the Asian market.
The Dallas-based company said April 7 it has acquired a 50% working interest in certain assets in Beauregard Parish, La. The company also partnered with the U.K.-based Northcote Energy Ltd.
Opposition lawmakers believe the contract contains secret clauses that hand concessions to Chevron and undermine national interests.
As QS Energy's JV partner, JBL will source and evaluate proved developed producing oil and gas properties, with upside cash-producing potential through the drillbit, according to the release.
The newly formed company will be led by Manuel Pablo (Manolo) Zuniga-Pflucker, president and CEO. He said the initial focus will be on Peru’s onshore assets.
Ebbie Haan, chief growth officer for Maersk Oil, said the company is now officially a partner in all five licenses, which cover about 100,000 sq km and include nine recent oil discoveries.
"This cooperation between Qatargas, Maersk Group and Shell represents an important step in developing LNG as a viable fuel for maritime transportation," Maersk's CEO, Nils Smedegaard Andersen, said, Reuters reported.
Al Shaheen holding company has three joint ventures in the oilfield services industry--two with GE Oil & Gas and one with the Middle East unit of Weatherford, Reuters reported.
About 160 former BP employees were included as part of the roughly-$350 million transaction. KMI will operate and market 14 of the terminals, which the joint venture will own.
At closing, Athabasca forecasts about C$900 million of liquidity with a net cash position of about C$80 million adjusted for debt.
|E&P||USD 106||Members only||Chesapeake Energy Corp.|
|E&P||USD 77||Members only||Range Resources Corp.|
|E&P||USD 30.7||Members only||Whiting Petroleum Corp.|
|S&S||USD 162.5||Members only||Xtreme Drilling and Coil Service Corp.|