World Oil (WO) – Crescent Point Energy Corp. has entered into an agreement with a private operator to sell its North Dakota assets for $500 million in cash. This transaction allows Crescent Point to bring forward the expected future value of the assets, as the proceeds equate to over five years of the cumulative excess cash flow that was expected
Oil Price Exxon, Hess, and CNOOC are preparing to launch a sixth offshore oil project in Guyana, with $12.93 billion earmarked for its development. This is according to a filing by the Guyanese government cited by Reuters, which also revealed the new project, dubbed Whiptail, will be operational in four years. Earlier this year, the Guyanese government also greenlit another multi-billion-dollar development proposed by
World Oil (WO) – Prairie Operating Co. announced the results of a comprehensive independent third-party evaluation of its non-producing position in Weld County, Colorado. The reserve report reflects the quality and scale of the company’s 37,000 gross acre position, establishing a possibles reserves basis of approximately 285.3 MMboe with a PV10 value of roughly $2.4 billion. The reserves are
Nasdaq BOGOTA – Colombia’s majority state-owned oil company Ecopetrol on Thursday reported a new oil and gas discovery in Putumayo province. The Alqamari-2 well was drilled to a depth of 9,287 feet and saw daily flow of 1,800 barrels of oil, Ecopetrol said in a statement. The oil is a light hydrocarbon. The rate of associated gas that the well
World Oil (WO) — Chevron Corporation announced that its acquisition of PDC Energy, Inc. has been completed following approval by PDC Energy shareholders. “We’re pleased to welcome PDC Energy into Chevron,” said Bruce Niemeyer, Chevron’s president for Americas Exploration & Production. “Our companies have similar cultures, with a focus on safe and reliable operations, teaming to deliver results, and
World Oil (WO) – Bolivia’s state-run oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) made a natural gas discovery at the Remanso-X1 well. The new reservoir will generate approximately $5 billion in gas revenue for the country. “The well is undergoing condensate production tests (48° API). These results will allow it to be classified as the discoverer of a new hydrocarbon
World Oil (Bloomberg) – ExxonMobil Corp. and Chevron Corp. are both on course to grow production from the Permian basin by 10% this year, more than double the rate of their smaller rivals. Exxon produced about 620,000 bpd in the second quarter from the world’s largest shale basin, which straddles Texas and New Mexico, while Chevron’s output increased to 772,000
Oil and Gas 360 Highly Accretive Transaction in Delaware Basin Meaningfully Increases Scale THE WOODLANDS, Texas, June 15, 2023 (GLOBE NEWSWIRE) — Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “our”, or “we”) today announced that it has entered into an agreement (the “Agreement”) to acquire Novo Oil & Gas Holdings, LLC (“Novo”), a privately-held Delaware Basin focused E&P company
World Oil (WO) – Ovintiv Inc. closed the previously announced acquisition of core Midland Basin assets, adding approximately 1,050 net 10,000 foot well locations and approximately 65,000 net acres of largely undeveloped land adjacent to Ovintiv’s existing Permian operations. The company has acquired all the leasehold interest and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra
BOE Report U.S.-based oil major Chevron will invest more than $500 million to develop the Trapial block in western Neuquen province, home to the massive Vaca Muerta shale basin, Argentina’s economy ministry announced on Friday. The announcement followed a meeting between Economy Minister Sergio Massa and company officials, according to a ministry statement. The new spending plan is scheduled to start before
Oil and Gas 360 Transactions solidify Company’s Permian focus and accelerate achievement of debt milestone Company to launch $300 million share buyback at closing HOUSTON, May 3, 2023 /PRNewswire/ — Callon Petroleum Company (NYSE: CPE) (“Callon” or the “Company”) today signed two definitive agreements that streamline and focus Callon’s operations, accelerate the achievement of its debt reduction target and allow for the
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
