Under the farm-out, UJO will acquire a 7.5% working interest in PEDL143 from Europa, paying 15% of the costs to drill the exploration well at Holmwood.
Transaction’s total value is $112 million. There are 156 billion cubic feet of 1P reserves, 62 producing wells and 14 waiting on completion; and there are more than 170 de-risked locations.
Keppel O&M and Rosneft will have shares of 45% each in the JV, while MHWirth will hold 10% while adhering to existing U.S. and EU sanctions imposed on Russia’s offshore sector, Reuters reported.
Athabasca has appraised and developed its significant Duvernay and Montney land position in Greater Kaybob and Placid, drilling 26 Duvernay wells at Greater Kaybob and five Montney wells at Placid.
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.
|E&P||USD 4400||Members only||Memorial Resource Development Corp.|
|E&P||CAD 595||Members only||Husky Energy Inc.|
|E&P||CAD 475||Members only||Athabasca Oil Corp.|
|E&P||USD 0||Members only||JX Nippon Oil & Gas Exploration Corp.|