Being Acquired

Home>Topics>Being Acquired
Refine Results
  1. All
  2. Online Articles
  3. Magazine Articles
  1. Lower Cook Inlet Cosmopolitan leases being acquired

    Buccaneer Energy Ltd., Sydney, will acquire a 25% operated  working interest in the two main productive leases in the former Cosmopolitan Unit in Alaska’s Lower Cook Inlet from Pioneer Natural Resources Alaska Inc. Cosmopolitan is an undeveloped oil and gas discovery in 50 ft of water just off Anchor Point on the Kenai Peninsula. Buccaneer said the acquisition will hike the company’s proved and probable reserves in Alaska 79% to 31.1 million bbl of oil equivalent. BlueCrest Energy II LP, private Fort Worth independent, is to acquire the other 75% working interest in Cosmopolitan, said Buccaneer. Closing is planned by Mar. 30, 2012. Buccaneer noted that Apache Corp. acquired leases surrounding and adjoining Cosmopolitan at the June 2011 state lease sale. Buccaneer said Cosmopolitan, “as a more advanced project with an existing well and some infrastructure already in place …  provides nearer term oil and gas production potential than our two other Cook Inlet offshore projects which will still be developed in parallel.” Buccaneer said development involves two separate plans, a gas development at 3,000-4,000 ft to be drilled with a jack-up and an oil development at 6,000-8,000 ft that can be exploited with wells drilled directionally from shore. An offshore well using Buccaneer’s Endeavour jack-up rig is planned for late 2012 that will further quantify both zones. Development will begin in the 2012 northern hemisphere winter and continue through to 2014. The preliminary development plan includes drilling and producing oil wells from the existing onshore production site and drilling offshore water injection wells for reservoir pressure maintenance. Separately, offshore gas wells will be drilled and tied back to the existing land site and connected to ENSTAR Corp.’s recently completed gas pipeline. The acquisition will allow the use of Endeavour to provide a more efficient development plan than was previously available to Pioneer, Buccaneer said. Without access to a jack-up, all wells including water injection wells needed to be drilled as extended reach directional wells from shore. Further, the shallower gas reserves could only be reached by offshore rig. Because southern Cook Inlet is ice-free, Cosmopolitan will enable Buccaneer to use Endeavour when ice floes preclude drilling in northern Cook Inlet in November-March. Cosmopolitan was first drilled in 1967, and the unit was created in 2001. Various wells have tested hydrocarbons from the Tyonek and Hemlock formations.

    Online Articles

    Online Articles

    Thu, 2 Feb 2012

  2. Argentina: North San Jorge block being acquired

    Crown Point Ventures Ltd., Vancouver, BC, plans to close in mid-January 2011 acquisition from an undisclosed seller of a 100% interest in a 25.57 sq km exploitation concession in Argentina’s northern Golfo San Jorge basin in Chubut Province.

    Online Articles

    Online Articles

    Fri, 7 Jan 2011

  3. DEEP REFLECTION SEISMIC BEING ACQUIRED OVER ITALIAN PENINSULA

    Giuseppe Bolondi AGIP SpA Milan A knowledge of the structure of the earth's deep crust, down to 3040 km is at the basis of our understanding of the geological processes that have given rise to the formation of mountain chains and sedimentary basins and to such phenomena as volcanoes and ...

    Magazine Articles

    Magazine Articles

    Mon, 25 May 1992

  4. PXP plans southern Piceance gas drilling

    Plains Exploration & Production Co., Houston, plans to drill 100 wells/year initially in Colorado's southern Piceance basin on properties being acquired from Laramie Energy LLC, a private Denver independent.

    Online Articles

    Online Articles

    Thu, 19 Apr 2007

  1. OGJ Newsletter

    Magazine Articles

    Magazine Articles

    Mon, 31 Aug 2015

  2. Mexico’s CNH approves Gigante multibeam, coring, geochemical survey

    Mexico’s National Hydrocarbons Commission (CNH) has authorized the acquisition of multibeam, coring, and geochemical analysis data over a 600,000 sq km area in Mexican waters. TGS-NOPEC Geophysical Co. (TGS) will conduct the work.

    Online Articles

    Online Articles

    Mon, 24 Aug 2015

  3. OGJ Newsletter

    International news for oil and gas professionals

    Magazine Articles

    Magazine Articles

    Mon, 13 Apr 2015

  4. Williams to buy more of Utica East

    Williams Partners LP agreed to buy an additional 21% interest in Utica East Ohio Midstream LLC from EV Energy Partners LP for $575 million.

    Online Articles

    Online Articles

    Mon, 6 Apr 2015

  5. OGJ Newsletter

    International news for oil and gas professionals

    Magazine Articles

    Magazine Articles

    Mon, 11 Nov 2013

  6. OGJ Newsletter

    company's lease position in the area to more than 34,000 net acres. PostRock estimates that the net proved reserves being acquired total 574,000 boe, 95% oil and 60% developed. The Woodford is believed to be 200-300 ft thick at 4,500

    Magazine Articles

    Magazine Articles

    Mon, 21 Oct 2013

  7. PostRock to acquire central Oklahoma properties

    PostRock Energy Corp., Oklahoma City, will acquire 22,000 net acres of leasehold in central Oklahoma that has current oil production and more than 10 million bbl of oil equivalent of potential in multiple reservoirs including the Woodford shale.

    Online Articles

    Online Articles

    Tue, 15 Oct 2013

  8. Chaparral to acquire Cabot’s Anadarko Marmaton assets

    Chaparral Energy Inc., Oklahoma City, will double its holdings in the Oklahoma Panhandle Marmaton play with acquisition from Cabot Oil & Gas Corp. of 66,000 net acres and 2,000 b/d of oil equivalent production for $160.1 million.

    Online Articles

    Online Articles

    Thu, 17 Oct 2013

Get More Results
Stay Connected