Inside the deal for the historic field near the southwestern edge of the Powder River Basin. It has produced 28.5 million barrels (MMbbl) of oil with an estimated 300 MMbbl in place.
The shale gas company’s deal comes after executives have said they want to sells assets to reduce debt.
Transactions for D-J acreage double reserves, cash flow and production to 1,000 boe/d, enabling the company to become cash-flow positive.
Memorial Resource Development consolidates into North Louisiana territory after trade of its East Texas and non-core Louisiana assets.
Gulf Coast refiners could be in the running as assets offer more power over supply chain..
The company is also seeking a JV partner and leadership is considering the sale of selected assets in the Marcellus.
EOG will complete 45% less wells in 2015 compared to 2014.
McClendon says the suit by the company he co-founded is meritless, ‘adds insult to injury.’
About 70% of those surveyed late last year expect more M&A in 2015.
Four executives talk about the art of exiting a deal.
The company parts with 985 net operated wells on 205,000 net acres.
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