Tesoro Logistics LP (NYSE: TLLP) will pay $2.5 billion in cash, including $230 million to refinance debt for the assets.
The acquisition will roughly double Eagle's frack sand production capacity and expand its frack sand reserves.
Energy XXI CEO John Schiller shares his views on the foundation for a sustainable company.
Chesapeake has already sold roughly $1.4 billion of E&P assets so far this year.
So far this year, the Midcontinent, Rockies Mountains and onshore Gulf Coast have generated the most activity and deal value.
With the acquisition, the company is now operating in a majority of the key energy resource plays in the U.S.
E&P borrowers often forget the strings (and sometimes ropes) that come with capital.
The deal adds roughly 30% of reserves to the company’s 19.1 MMboe.
The remainder of Atlas Energy's E&P holdings will be spun off before they are acquired by Targa Resources.
Crude will account for more than 25% of the company’s total volume as it executes on the strategy.
MHR’s remaining Bakken assets are worth an estimated $325-$425 million, which management expects to sell by early next year.
The terms of the business combination call for Dawson shareholders’ to own 66% of the combined company and TGC’s to own 34%.
|E&P||USD 218||Members only||EV Energy Partners LP|
|E&P||USD 84.7||Members only||Magnum Hunter Resources Corp.|
|E&P||USD 250||Members only||PDC Energy Inc.|
|E&P||USD 0||Members only||Parallel Resource Partners LLC|