The U.S. Bureau of Land Management (BLM) in Utah is planning to offer 75 oil and gas parcels within 94,000 acres in Duchesne, Uintah and Emery counties in an online December quarterly lease sale. BLM said the leases would contain stipulations and best-management practices aimed at addressing air quality and water resources and ensuring the “safe and environmentally responsible” development. BLM also may modify the stipulations to accommodate site-specific resources. Last year, leasing on BLM lands in Utah contributed $1.7 billion to the economy, supporting 9,700 jobs, according to the federal agency.
Carrizo Oil & Gas Inc. has reached an agreement with an undisclosed buyer to sell for $62 million all of its Utica Shale assets in Guernsey County, OH, where it has nearly 26,000 net acres. The transaction is expected to close by the end of October. Carrizo earlier in 2017 said it would sell its Appalachian properties as they didn’t compete for capital with the core assets in the Eagle Ford Shale, the Permian’s Delaware sub-basin and the Niobrara formation. The company still has 16,000 net acres in the Marcellus Shale.
A Delaware bankruptcy court has approved Sempra Energy’s proposed $9.45 billion acquisition of Energy Future Holdings Corp. (EFH), the indirect owner of 80% of Texas-based Oncor Electric Delivery Co. The enterprise value of the utility deal, expected to close in 2018, is estimated at $18.8 billion, including debt. Approvals still are required by the Texas Public Utilities Commission, Federal Energy Regulatory Commission and U.S. Department of Justice.
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