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Swift Energy Co. has signed a purchase and sales agreement with a private oil and gas company to sell its interests in six fields in South Louisiana, two in Texas, and one in Alabama for about $53.5 million.
Talisman Energy Inc., Calgary, agreed to sell 16,000 boe/d of noncore North American assets to multiple, unidentified buyers for a total of $815 million.
Pogo Producing Co. plans to divest nonstrategic oil and gas properties in the Gulf of Mexico, south and east Texas, south Louisiana, the Permian basin and Texas Panhandle areas, and western Canada.
Urals Energy, which has its operating assets in Russia, reported plans to sell certain oil assets in Russia's Komi Republic for $93.5 million.
Devon Energy Corp., Oklahoma City, plans to divest its Gulf of Mexico and international assets in a move toward focusing on high-growth US and Canadian onshore assets, the company reported Nov. 16.
Occidental Petroleum Corp. is headed for a sweeping restructuring under Ray R. Irani, newly installed as chairman, president, and chief executive officer. Formerly president and chief operating officer, Irani was named to his new posts upon the death last month of Armand Hammer, Oxy chairman and ...
coaster ride that crude oil prices have taken during the last 2 years has been the sale of noncore assets by many companies. One company's noncore assets become core assets of another. As seen in OGJ's exclusive biennial enhanced oil recovery
2014). "Over the past 3 months, we continued to see companies looking to realign their portfolios and divest noncore assets , which provided opportunities for acquirers with cash and access to capital," said Doug Meier, PwC's US energy
2014 ). “Over the past 3 months, we continued to see companies looking to realign their portfolios and divest noncore assets , which provided opportunities for acquirers with cash and access to capital,” said Doug Meier, PwC’s US energy
2011). John Richels, Devon president and chief executive officer, commented, "With the sale of our remaining noncore assets , the portfolio transformation that we announced late last year is now complete." Devon has made significant changes