In 2014, the company made deals worth $7 billion and fortified its position in the Permian Basin, Eagle Ford and elsewhere.
The MLP and its private equity backer Quantum Energy team up for acquisitions in a distressed market, but A&D may not kick into high gear until second-half 2015.
In the face of economic turmoil, Southwestern Energy has sold $700 million in assets following its multibillion-dollar acquisition in the southwest Marcellus Shale.
With the shock value of 20% to 80% capex cuts fading, producers might start pulling back production as the oil market keeps tightening and Saudi Arabia flexes its economic muscles.
With the barn-burner rumors of a huge sale gone, the Bakken behemoth looks to raise liquidity with debt and share offerings to overcome about $1 billion in capex outspend.
In the span of two days Southwestern Energy sells its Pennsylvania gathering system, along with its East Texas, Arkoma Basin assets for more than $700 million.
Whitecap Resources pays $115,200 per boe/d for production in the Viking, a highly economical oil asset near the Kerrobert area of west central Saskatchewan.
Sale day statistics show 64 blocks in water depths of greater than 1,600 m (5,249 ft) received bids worth a total of about $334.9 million.
After spending more than $5 billion in the Marcellus and buying assets from Statoil and WPX, the company plans to divest up to $800 million to overcome a cash flow gap.
With acreage the Barnett Shale, Delaware Basin and Horn River Basin, the company wants to reorganize and is continuing to pay vendors, maintain payroll.
The Saddlehorn pipeline, estimated to cost $800 million to $850 million, will transport various grades of crude from the D-J Basin and Rocky Mountain plays to Cushing, Okla.
Sabine said March 16 that it is considering “strategic alternatives” to its capital structure following legal action by bondholders seeking $584 million. The company has been served a notice of default by its lender.
|E&P||USD 218||Members only||Southwestern Energy Co.|
|Mid||USD 500||Members only||Southwestern Energy Co.|
|Mid||USD 0||Members only||Saddlehorn Pipeline Co.|
|E&P||USD 587.5||Members only||Beaumont Energy Inc.|