GE Energy, independents to acquire reserves

By OGJ editors
HOUSTON, Feb. 16
-- GE Energy Financial Services formed partnerships with two independents to acquire North Dakota and West Texas oil and gas reserves.

Two separate transactions came to a total of nearly $200 million, GE Energy said.

GE Energy formed a partnership with Sequel Energy LLC to acquire oil and gas reserves in the Williston basin of North Dakota from St. Mary Land & Exploration Co. for $137 million. Both St. Mary and Sequel are based in Denver.

Sequel will serve as general partner and will operate the partnership. GE Energy will serve as the limited partner.

Separately, GE Energy formed a partnership with Marlin Energy LLC. The partnership, Marlin Permian LP, acquired gas reserves in West Texas from an undisclosed seller for $65 million.

GE Energy will serve as limited partner. Marlin Energy of Lafayette, La., will be the general partner of Marlin Permian and will operate the assets.

Related Articles

Second small diesel refinery planned for North Dakota

03/21/2014 Quantum Energy Inc. (QEI), Tempe, Ariz., said it has secured land for the construction of a 20,000-b/d grassroots hydroskimming refinery in North D...

Hiland looks to expand Bakken crude pipeline

03/18/2014 Hiland Crude LLC has launched an open season to solicit shipper interest for crude oil transportation on an expanded version of its Double H Pipeli...

New York county puts freeze on Bakken crude

03/12/2014 Government officials in Albany County, NY, have issued a moratorium on Global Partners LP’s plans to increase the processing of Bakken crude oil at...

EIA: Harsh winter affected US heating expenditures, oil production

03/11/2014 Worldwide liquids fuels consumption will increased by 1.2 million b/d this year and by 1.4 million b/d in 2015, according to the latest outlook fro...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected