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.
The new midstream company will be led by a seasoned management team that is highly experienced in the development of pipelines, gathering systems and storage assets in the oil and gas industry, the release said.
Bayou City will fund all of Alta Mesa’s working interests to the maximum $3.2 million in drilling and completion costs per well for any tranche. Bayou City will receive 80% of Alta Mesa’s working interest in each well.
The project will be a four-well infield drilling program in South Texas and is the first JV between the two companies. Emerald Bay will be the operator for the project.
Japan's Jera Co. signed a basic agreement to sell about 70,000 tonnes of LNG per year to Shizuoka Gas for five years, starting in April 2022, Reuters said.
The exit from Russia comes about five years after ConocoPhillips sold its biggest sole asset in Russia, a stake in Lukoil, for $9.5 billion.
The AMI participation agreements have been dissolved because the transaction is closed. About 11,000 net noncore, nonproducing acres in Blaine and Major counties, Okla., were transferred to the sellers.
YPF estimates the Vaca Muerta deposit contains 661Bbbl of oil and 1,181Tcf of natural gas, making it one of the biggest shale reserves in the western hemisphere, Reuters said.
Up to 80 wells on about 10,500 acres in the Clermont/Rich Valley area in Pennsylvania will be developed. Some of them have already been drilled or drilled and completed.
Hovensa currently has capacity for 13 million barrels of crude and oil products. Freepoint will lease 2 million barrels of fuel oil storage at the site, Reuters reported.
The large-scale position has multiple Permian targets including Wolfcamp, Avalon, Delaware and Bone Spring production. BC will run at least one drilling rig in 2016 and will add more acreage.
|E&P||USD 190||Members only||AWE Ltd.|
|S&S||USD 247||Members only||Trican Well Service Ltd.|
|E&P||USD 245||Members only||Quicksilver Resources Inc.|
|Mid||USD 4400||Members only||Questar Corp.|