The company’s capex, net loss and production didn’t reach analyst expectations and an agreement to pay for drilling underwhelmed some analysts.
Houston’s Memorial Production Partners LP will be a fully separate company and own its general partner after closing a deal with Memorial Resource Development Corp.
Schlumberger will buy coiled tubing units from a Canadian company while it looks to reduce 2016 global spending by nearly 25%, including up to 50% in North America.
Casillas Petroleum purchased 12,000 net acres from Chesapeake. In January, a Chesapeake subsidiary produced at least 17.2 MMcf/d on the acreage.
Corporate restructuring is a reality of today’s oil and gas landscape. As balance sheet and liquidity problems hit home, some companies have to consider drastic strategies.
Texegy LLC acquires working interest in Swift's Louisiana assets while note holders take control of the virtually all of the company's equity. The company holds 77,000 gross acres in the Eagle Ford Shale.
Though financial details of its deal will remain undisclosed, the sale of 19 GoM fields aids Chevron’s efforts to reach up to $10 billion in divestitures by year-end 2017.
Callon has entered transactions to boost its position in the Midland Basin to about 34,000 net surface acres, including a new core operating area in one of the basin’s hot spots.
Borrowing bases will take a hit of more than 30% this spring, putting pressure on highly-leveraged companies to free up liquidity, which should improve the quality of assets coming to market.
American Energy - Woodford is one step closer to becoming a stand-alone company following a name change and a deal with Devon Energy to double its footprint in the CNOW Play.
New owner I Squared sells a stake to GE and will operate and manage the new 220-mile system in New Mexico with an eye toward expansion in other U.S. basins.
Goodrich Petroleum and Energy XXI filed for bankruptcy while the pressures of borrowing bank redeterminations and leverage dog Triangle Petroleum and Linn Energy.
|E&P||USD 200||Members only||Alpha Natural Resources Inc.|
|Mid||USD 0||Members only||I Squared Capital|
|E&P||CAD 148||Members only||Penn West Petroleum Ltd.|
|S&S||USD 0||Members only||Trican Well Service LLC|