(World Oil) – Tokyo Gas Co. will offload its stake in a Texas shale project, amid scrutiny from activist shareholder Elliott Investment Management, which has called for the utility to streamline its portfolio. The company will sell all the interests held by its subsidiary in the Eagle Ford shale gas project to Shizuoka Gas Co. for $130 million, the two firms
(World Oil) – Elk Range Royalties has announced its acquisition of Newton Financial Corporation, LP, Concord Oil Company, LP, and Mission Oil Company, (Newton/Concord) who collectively own a substantial mineral and royalty interest asset spanning the Permian and Eagle Ford basins. This strategic transaction expands Elk Range’s footprint across premier oil and gas producing regions in Texas. The acquisition includes approximately
Oil and Gas 360 Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technologies Series presenter replays for a limited time. Verdun is a privately-held oil & gas company primarily focused on the Eagle Ford shale and Austin Chalk trends in South Texas. Verdun was formed with equity commitments from management and
World Oil (WO) – Crescent Energy Company announced the closing of its acquisition of SilverBow Resources, Inc. The transaction was closed ahead of schedule. The SilverBow integration is well underway, with approximately $35 million of the previously announced $65 – $100 million in annual synergies captured to date through an improved cost of capital resulting in reduced interest expense. Crescent
BOE Report Spanish oil major Repsol plans to sell a minority interest in its Eagle Ford shale assets in South Texas, in a deal that could value the assets at up to $2 billion, three sources familiar with the talks told Reuters. The sources said Repsol has hired Scotiabank to assist with the process, and aims to bring in a partner or
World Oil (WO) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, has released new research that analyzes which oil and gas plays show the greatest rate of increase in drilling speeds and whether well costs correlate with drilling speeds. In addition, the report looks at how well designs are affecting drilling efficiencies. “Cost reduction efforts to improve capital efficiency
World Oil (WO) – APA Corporation announced the sale of non-core producing properties by Apache Corporation in two separate transactions for over $700 million. Combined, the properties represent estimated net production in the first-quarter 2024 of 13,000 boed, of which just over one-third is oil. “These transactions are consistent with our active management of the portfolio, and we will continue
World Oil (WO) – INEOS Energy has completed the acquisition of a portion of Chesapeake Energy’s oil and gas assets in the Eagle Ford shale, South Texas for $1.4 billion. The deal marks INEOS Energy’s entry as operator into the U.S. onshore oil and gas market, as it acquires 2,300 wells, producing net 36,000 boed. The acquisition, which includes production
Oil Price Over the last year, the Eagle Ford Shale play has seen a lot of renewed interest in investment as well as M&A activity. Just this November, Marathon Oil Company, (NYSE:MRO) announced in their quarterly earnings call they had acquired the Eagle Ford assets of privately held Ensign Natural Resources. For a sales price of ~$3.0 bn in a
World Oil (Bloomberg) — Chesapeake Energy Corp. said its assets in the Eagle Ford Shale have drawn a “tremendous amount of interest” as the U.S. company pursues a sale in order to become a pure-play natural gas producer. The company has fielded data requests from prospective buyers, and the process could result in all the assets being sold to a
Oil and Gas 360 HOUSTON, TX / ACCESSWIRE / June 30, 2022 / Ranger Oil Corporation (“Ranger” or the “Company”) (NASDAQ: ROCC) today announced additional bolt-on acquisitions of oil and gas assets in the Eagle Ford shale, bringing the total purchase price of transactions signed in the second quarter to approximately $110 million, subject to customary adjustments. The combined all cash
World Oil (Bloomberg) — The owners of Laredo Energy VI LP, a gas driller focused in the Eagle Ford Shale in South Texas, are considering a sale of the company worth up to $1 billion, according to people with knowledge of the situation. Houston-based Laredo leases 70,000 acres in a slice of the Eagle Ford just north of the Mexican
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