Delaware Basin Archives - Page 7 of 8

Centennial Resource Development Equity Private Placements Now Total $910 Million

December 5, 2016

Centennial readies itself for a busy 2017 in the Permian Centennial Resource Development, Inc. and its affiliates (ticker: CDEV) has entered into agreements to issue and sell $910 million of equity securities to third-party investors in a private placement, including its previously announced agreement to issue and sell to an affiliate of Riverstone Holdings LLC (“Riverstone”) up to $500 million of equity securities. Centennial expects to use

Centennial Resource Development Acquires 35,000 Delaware Basin Acres

November 28, 2016

$855 million purchase gives Centennial about 77,000 acres in one of America’s hottest oil plays Denver-based Centennial Resource Development (ticker: CDEV) announced Monday that it has agreed to acquire 100% of the leasehold interests and related upstream assets from Silverback Exploration. Privately-held Silverback’s 35,000 net acres (44,000 gross) of Delaware Basin assets directly offset Centennial’s existing acreage, and are currently

Oil & Gas 360 - ConocoPhillips ups drilling program in Eagle Ford - Oil & Gas 360

Concho Resources Increases Delaware Acreage with $430 Million Acquisition

November 21, 2016

Concho Resources doubles long-lateral inventory with Red Hills bolt-on Concho Resources Inc. (ticker: CXO) announced Monday that the company has added approximately 24,000 gross (16,400 net) acres to its norther Delaware Basin assets through a $430 million deal with an undisclosed seller. The acquired acreage is producing approximately 2.5 MMBOEPD (69% oil) and doubles the company’s long-lateral drilling inventory in

WPX Energy Plans to Grow Oil Production Another 25% in 2017

November 4, 2016

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

The Shale Boom in the Permian Is Slowing Down - 360

RSP Permian Acquires Silver Hill Energy Partners for $2.4 Billion

October 14, 2016

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

DAPL Moves Towards Completion, “Keep it in the Ground” Gets Crazier

Hunters and Gatherers in the Hottest Oil Play in the U.S.

October 14, 2016

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)

Silver Run Jumps into the Delaware with Acquisition of 89% Interest in Centennial Resources

October 11, 2016

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 Adds to Permian Position with $135 Million Delaware Basin Acquisition

October 5, 2016

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

WPX Energy: Its Clear Vision is Paying Off in the U.S.A.’s Hottest Oil Play

September 28, 2016

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 Upsizes Offering to Fund $1.5 Billion Delaware Basin Entrance

September 9, 2016

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

Yates Petroleum Acquired by EOG for $2.5 Billion

September 6, 2016

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 Energy Leaps into the Delaware Basin with $1.5 Billion Deal

August 24, 2016

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

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