WPX focused on growing three prolific plays; projects 25% oil growth in 2017; 50% oil growth in 2018 WPX Energy released its Q3 numbers Wednesday, reporting a loss of $245 million, $238 million of which was due to the divestment of transportation contracts. The company continues to keep line-of-sight on growing its production, however, and is anticipating a 25% increase
RSP snags 15 MBOEPD of Permian Basin production RSP Permian (ticker: RSPP) today announced it has entered into definitive agreements to acquire Silver Hill Energy Partners, LLC (“SHEP I”) and Silver Hill E&P II, LLC (“SHEP II,” and together with SHEP I, “Silver Hill”) for $1.25 billion of cash and 31.0 million shares of RSP common stock in aggregate, implying a total purchase
The Delaware Basin is becoming an increasingly attractive asset, but takeaway could become an issue The Delaware Basin has become an extremely sought after asset since the decline of oil prices that began in 2014. Even at $50 oil, many operators feel the area offers good returns, and they’re willing to pay for them. The hunters PDC Energy (ticker: PDCE)
Former EOG CEO Mark Papa completes acquisition of Delaware Basin pure-play Centennial Resources Silver Run Acquisition Corporation announced today that it completed its acquisition of an 89% controlling interest in Centennial Resource Production, a pure-play Delaware Basin company with 42,500 net acres primarily in Reeves and Ward counties, Texas. Silver Run bought Centennial from an affiliate of Riverstone Holdings LLC.
Resolute’s new Delaware Basin acreage producing 1,200 BOEPD Resolute Energy (ticker: REN) announced that it has entered into a definitive agreement with Firewheel Energy LLC, a portfolio company of EnCap Investments, to acquire 3,293 acres of oil and gas properties located in Reeves County, Texas. The purchase price for the acquisition is $135 million, consisting of $90 million in cash
An Oil & Gas 360® Exclusive Interview with WPX Energy VP of Drilling and Completions Tom Hellman Since 2014, WPX Energy (ticker: WPX) has been neck-deep in a full speed turnaround. Its management team has completed more than $5 billion in transactions under the leadership of CEO Rick Muncrief, who joined the company after developing a reputation as one of
PDC Energy expects gross proceeds of $675 million to help fund a portion of its Delaware Basin acquisition PDC Energy (ticker: PDCE) announced Thursday that it upsized its public offering to 7.9 million shares of common stock for total gross proceeds of approximately $500 million and $175 million of its convertible senior notes due 2021. Originally, the company had planned
Acquisition of Yates increases number of EOG drilling locations with 30%+ IRRs by 40% EOG Resources (ticker: EOG) announced today that it will acquire Yates Petroleum Corporation, a privately-owned E&P headquartered in Artesia, New Mexico, for total consideration of approximately $2.5 billion. Under the terms of the deal, EOG will issue 26.06 million shares of common stock valued at $2.3
PDC expands inventory life by at least 15 years with Delaware acquisitions Denver-based PDC Energy (ticker: PDC) announced a $1.5 billion acquisition of two privately held companies with acreage in the core of the Delaware Basin. The privately negotiated transaction includes approximately 57,000 net acres in Reeves and Culberson Counties, Texas, with an average working interest of approximately 93%, according
On day three of EnerCom’s The Oil & Gas Conference® 21, a panel of experts talked about the Permian basin and the rapid growth in activity it has seen in the past three years. Panelists were Jeb Bachmann of Scotia Howard Weil, Will Green of Stephens Inc. and Bill Davis of Vaquero Midstream. Scott Rees, Chairman of Netherland Sewell, started things off
Resolute Energy presents at EnerCom’s The Oil & Gas Conference® During Resolute Energy’s breakout session, management was asked the following questions: With the sale of the midstream assets, what is that going to do to your LOE’s out of the Permian? What should we model for your LOE’s or operating costs out of the Permian? How do you think about
New Lobo II expansion of EnLink’s existing Lobo System in the Delaware basin is anchored by long-term commitments from major producers; expects to be operational by year-end 2016 Subsidiaries of EnLink Midstream (ticker: ENLK) and private equity fund NGP Natural Resources XI, L.P. have formed a strategic joint venture to operate and expand EnLink’s natural gas, natural gas liquids, and
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