More Companies News

Chesapeake, RKI E&P agree on Powder River acreage exchange

Chesapeake Energy Corp. and RKI Exploration & Production LLC (RKI), both of Oklahoma City, have agreed to exchange nonoperated interests in 440,000 gross acres in the Powder River basin in southeastern Wyoming.

Algorithm provides new EUR estimates for US shale plays

Since the early 2000s, US shale gas production has grown exponentially and reached a production level of 26 bcfd in 2013, 40% of total US gas output according to the US Energy Information Administration (EIA). This growth was driven by technological advances in horizontal drilling, multistage hydraulic fracturing, and a favorable price environment.

Apache planning exit of LNG projects in Australia, Canada

In a move “consistent” with its “ongoing repositioning for profitable and repeatable North American onshore growth,” Houston independent Apache Corp. reported July 31 during its quarterly earnings statement that it would exit completely its holdings in the Wheatstone LNG project in Western Australia and the Kitimat LNG project in Bish Cove, British Columbia.

AEP unit completes $2.5-billion Permian acquisition

American Energy–Permian Basin LLC, an affiliate of Oklahoma City-based American Energy Partners LP, has completed its acquisition of 63,000 net acres and associated gathering assets in the southern Permian basin from affiliates of Denver-based Enduring Resources LLC for $2.5 billion.

Osum completes purchase of Orion project from Shell

Osum Production Corp., a wholly owned subsidiary of Osum Oil Sands Corp., Calgary, has completed its purchase of the Orion oil sands project in the Cold Lake region of Alberta from Shell Canada for $325 million (Can.).

SM Energy to acquire North Dakota assets from Baytex

SM Energy Co., Denver, has agreed to acquire 61,000 net acres in Divide and Williams Counties, ND, from Baytex Energy Corp., Calgary, for $330.5 million, effective July 1. The deal is expected to close toward the end of the third quarter.

Golden Pass partners let contract for LNG export facility

Golden Pass Products LLC (GPP), a Houston-based joint venture of units of Qatar Petroleum International and ExxonMobil Corp., has let a front-end engineering design services contract to CB&I and partner Chiyoda Corp. for a proposed LNG export project at an existing import terminal in Sabine Pass, Tex.

Eni signs PSCs for onshore Myanmar blocks

Eni SPA has signed production-sharing contracts for two blocks in Myanmar with the country’s Ministry of Energy.

PwC: 2Q oil and gas M&A activity strongest in 5 years

The US oil and gas industry experienced a substantial rise in mergers and acquisitions during the second quarter, according to a quarterly report by PwC US Energy Practice.

Rosneft, PDVSA sign agreements for offshore projects

OAO Rosneft and Petroleos de Venezuela SA (PDVSA) have signed a cooperation agreement for offshore projects in the Rio-Caribe and Mejillones blocks, the second stage of the Mariscal Sucre gas project

Oando completes purchase of Nigeria assets from ConocoPhillips

Oando Energy Resources (OER), a Calgary-based subsidiary of Oando PLC, has completed its acquisition of the Nigeria upstream business of ConocoPhillips for $1.5 billion.

Hess looks to form Bakken midstream MLP

Hess Corp. reported that it will pursue the formation and initial public offering of a midstream master limited partnership (MLP) that would support the company’s production growth in the Bakken shale.

Templar Energy to acquire Granite Wash assets for $588 million

Templar Energy LLC, Oklahoma City, has agreed to purchase Granite Wash assets from Newfield Exploration Co., Houston, for $588 million, effective July 1. The deal is expected to close in the third quarter.

WoodMac: Wolfcamp spending could surpass that of Bakken by 2017

Activity in the Wolfcamp shale is expanding and, by as early as 2017, could overtake the Bakken in tight oil spending, according to analysis on the West Texas play from Wood Mackenzie.

Study examines return-investment balance

Europe and Africa are the regions under greatest scrutiny by major oil and gas companies trying to tighten capital discipline in response to pressure to improve shareholder returns, concludes a new report by Wood Mackenzie.

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January 26, 2015
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