After several months of negotiations with nearly three-quarters of its creditors, Triangle USA Petroleum Corp. (TUSA) and two of its affiliates voluntarily filed for Chapter 11 bankruptcy protection in Delaware on Wednesday.
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A unit of Chevron Corp. and affiliates of Argentina’s state-controlled YPF SA have struck a long-sought agreement for the U.S. major to provide an initial $1.24 billion to further development of shale oil and gas resources from the Vaca Muerta formation in Argentina’s Neuquen province.
Exco Resources Inc. is paying Chesapeake Energy Corp. $1 billion for something wet and something dry: about 55,000 acres in the liquids-rich Eagle Ford Shale of Texas and about 9,600 acres in the drier Haynesville Shale in North Louisiana.
Constitution Pipeline Co. LLC has filed its long-awaited application with FERC seeking approval to construct a pipeline to carry natural gas from northern Pennsylvania’s Marcellus Shale to Northeast markets, the company said Friday, and Iroquois Gas Transmission has filed an application to build a key interconnect project.
Summit Investments has agreed to acquire Bear Tracker Energy LLC for $513 million from affiliates of GSO Capital Partners LP and Bear Tracker Investments LLC. Midstream company Bear Tracker is focused on oil and natural gas in North Dakota and Colorado.
Japan’s Sumitomo Corp. agreed Wednesday to pay Devon Corp. $1.4 billion for a 30% stake in 650,000 net acres in the Permian Basin’s Cline and Midland-Wolfcamp shales.