By Tyler Losier, Energy Reporter, Oil & Gas 360 NGL Energy Partners sells TransMontaigne Product Services for $300 million NGL Energy Partners LP (stock ticker: NGL), a vertically integrated midstream company, has signed a definitive agreement to sell TransMontaigne Product Services and its associated assets to an undisclosed buyer for approximately $300 million. Proceeds from the transaction will be used
By Tyler Losier, Energy Reporter, Oil & Gas 360 Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture (JV) with Colombia-based Ecopetrol S.A. (stock ticker: EC) to develop 97,000 net acres of Occidental’s Midland Basin properties, subject to
From The Houston Chronicle Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award. A U.S. appeals court ruled on Monday that Crystallex International Corp. may seize U.S.-based stock of Citgo’s parent, which is part of Venezuela’s state-owned oil company, to cover
By Tyler Losier, Energy Reporter, Oil & Gas 360 Contura Energy selects David J. Stetson as its new CEO and as a member of its board of directors Contura Energy (stock ticker: CTRA), a Tennessee-based coal supplier, has unanimously elected David J. Stetson as the company’s new chief executive officer, as well as a member of its board, effective July
WPX Energy (ticker: WPX) has closed the San Juan Basin oil play sale to Enduring Resources IV, LLC for $700 million. A significant portion of the proceeds are slated for debt reduction, WPX said, and the company now believes it can reduce its net debt/EBITDAX to a target level of 1.5x during 2019. The transaction completes WPX’s exit from operations
Eclipse Resources Corporation (ticker: ECR) had a net income for 2017 of $8.5 million, or $0.03 per share. For reference, the company had a net loss of $206.7 million, or $(0.86) per share for 2016. The fourth quarter of 2017 showed a net loss of $13.1 million, or $(0.05) per share. In Q4 2016 the company had a net loss
Vermilion Energy Inc. (ticker: VET) has entered into an arrangement to acquire all of the issued and outstanding common shares of a private southeast Saskatchewan producer for total cash consideration of $90.8 million. The purchase price will be funded from Vermilion’s existing credit facilities, the company said in a press release. The deal is expected to close on or about
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