(Oil & Gas 360) – After ten years and tens of millions of dollars, Uinta Basin oil producers are hoping to end 2024 on a positive note when the Supreme Court will review an earlier lower court ruling by the U.S. Court of Appeals finding that inadequate environmental analysis should preclude construction of a nearly 90-mile rail line to deliver oil
World Oil (Bloomberg) – Ovintiv Inc. is considering a possible sale of its operations in the Uinta basin, which could fetch as much as $2 billion, people with knowledge of the matter said. Denver-based Ovintiv is working with an adviser to gauge buyer interest in the asset, the people said, asking not to be identified discussing confidential information. Ovintiv’s operations
Oil and Gas 360 DENVER, June 27, 2024 /PRNewswire/ — SM Energy Company (the “Company” or “SM Energy”) (NYSE: SM) today announces that it has entered into an agreement to acquire the Uinta Basin oil and gas assets owned by certain entities affiliated with XCL Resources, LLC (“XCL”), a private company backed by EnCap Investments L.P. (“EnCap”) and Rice Investment Group (“Rice”),
Oil and Gas 360 HIGHLIGHTS SM Energy Company (“SM”), with NOG as its non-operated partner, purchasing the Uinta Basin assets (the “XCL Assets”) of XCL Resources, LLC, an EnCap Portfolio Company, for a combined unadjusted purchase price of $2.55 billion in cash NOG to acquire a 20% undivided stake in the XCL Assets (the “Acquired Assets”) for $510.0 million in
EP Energy Corporation (ticker: EPE) reported its Q3 results and held its earning call yesterday. Improvements with completions and new Eagle Ford & Permian Assets EP has renamed its position in the Uinta Basin to Northeastern Utah or NEU. In the third quarter of 2018, the company produced 17.5 MBoe/d, including 12.0 MBbls/d of oil, a four percent decrease from the third
Crescent Point Energy Corp. (ticker: CPG) said its Q1 2018 production and cash flow from its U.S. assets have grown year-over-year by approximately 60% and 175%, respectively. Additionally, the company said its land position in the east shale Duvernay light oil resource play now totals over 355,000 net acres ($315/acre), or 555 net sections. “Our U.S. assets continue to grow
Colorado-based Bill Barrett Corporation (ticker: BBG) reported Q4 and year-end results today. For the fourth quarter of 2017, the company reported a net loss of $77.8 million, or $(0.94) per diluted share. For 2017 as a whole, the company reported a net loss of $138.2 million, or $(1.80) per diluted share. BBG entered 2018 with $314 million of cash and
LINN Energy, Inc. (ticker: LNGG) has signed a definitive agreement to sell its interest in properties located in the Altamont Bluebell Field to an undisclosed buyer for a contract price of $132 million. The properties to be sold consist of approximately 36,000 net acres in Utah with Q3 net production of approximately 1,450 BOEPD, proved developed reserves of ~5.8 MMBOE(1) and
Uinta HZ inventory climbs to 850 net locations Crescent Point Energy Corp. (ticker: CPG) expects to generate annual average production of 183,500 BOEPD and exit production of 195,000 BOEPD in 2018. The increase will be fueled from its $1.8 billion CapEx spending budget for 2018. Crescent Point had a 2017 exit rate of 183,000 BOEPD, which represented year-over-year production growth
Bill Barrett Corporation (ticker: BBG) has built a core position in the Northeast Wattenberg field in Colorado’s Denver-Julesberg (DJ) Basin, where it holds 71,900 net acres. The company also has producing acreage within the Uinta Basin in Utah, numbering approximately 24,000 acres. Debt load 1/3 of what it once was Bill Barrett Corporation has steadily reduced net debt levels to
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