The company purchased mineral rights under its existing acreage to increase its working interest and net revenue interest.
Even companies with large inventories continue to seek out value in buying companies. Goldman Sachs rated companies in a point system that determines the likelihood of M&A activity. Top picks include RSP Permian.
FMC Technologies will contribute 39% of the company’s enterprise value and own 49% of a stake in the merger with Technip. But is it worth it?
Despite Vanguard’s loss of the Scoop/Stack acreage and a pared-back borrowing base, the company forecasts it will generate a substantial amount of excess cash flow in 2016.
While Aubrey McClendon’s legacy won’t be tarnished by the closing of his final venture, the company will lose 100 employees who had worked under his guidance.
Oil supplies are stable, low prices are expected to continue in 2016 and ‘there are no plans to purchase E&P assets,’ a Korean oil executive says.
Bankruptcies proliferate in May with companies damaged by low commodity prices, which in turn have sunk borrowing bases and choked cash flow.
The company had agreed to purchase about 27,000 net acres for $200 million but was outbid by an undisclosed party by about $140 million.
The company has been purchasing assets since late 2015 and now has production of about 17,000 boe/d located in Karnes County, Texas.
Suit filed by Williams to push ETE to complete acquisition might not succeed, and might not be in Williams’ best interest if it does.
Range Resources is diversifying its portfolio into the Gulf Coast through an agreement to acquire North Louisiana pure play Memorial Resource Development in an all-stock transaction valued at $4.4 billion.
The 134-year-old Radnor, Pa.-based company is following in the footsteps of several other E&Ps, including the Linn Energy family of companies which filed for bankruptcy protection only a day earlier.
|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.|