The transactions are expected to close in the fourth quarter of 2014 with total capital cost for the joint ventures estimated to be approximately $300 million.
In addition, Denver-based PDC announced its borrowing base increased to $700 million from $450 million following the recently completed semi-annual redetermination of its revolving credit facility.
The JV is based upon the success of the first joint venture with a Grafton affiliate.
ZaZa’s East Texas acreage holdings comprise two separate development areas, each with different operators and ownership structures.
Stratex entered a joint development agreement for roughly 35,000 leasehold acres in the Mississippi Lime.
To date, the JV has received firm capacity commitments that total 1.5 Bcf/d.
The venture includes an East Texas development agreement comprising Walker, Grimes, Madison, Trinity, and Houston counties.
Houston-based Lucas will receive $444,000 for a 50% working interest on roughly 400 acres.
The alliance will provide for development of liquids-rich gas processing infrastructure in northeast British Columbia.
Carrier will have the right to participate in wells drilled in Culberson, Reeves and Pecos counties, Texas.
The agreement covers a defined area of 8,011 net mineral acres in Dundy County, Neb.
The project will be capable of delivering up to 2.1 Bcf/d to Rockies Express Pipeline and Texas Eastern Transmission
|E&P||USD 13000||Members only||Talisman Energy Inc.|
|E&P||USD 1950||Members only||Linn Energy LLC|
|E&P||USD 350||Members only||Linn Energy LLC|
|E&P||USD 0||Members only||ExxonMobil Corp.|