Assets

U.S. independents Cimarex Energy Co. and Cabot Oil & Gas Corp. have completed their closely watched merger, bringing together more than 700,000 net acres across the Marcellus Shale and the Permian and Anadarko Basins. The previously announced transaction was completed on Friday after both companies’ shareholders approved it earlier this week. The combined company operates…

A recently launched Lower 48-focused energy firm has received a $500 million investment from private equity giant Kayne Anderson Capital Advisors LP. Santa Clarita, CA-based Black Knight Energy LLC was formed earlier this year “to pursue the acquisition and development of large, cash flowing oil and natural gas assets” across the Lower 48, the company…

Basic Energy Services Inc. is once again seeking voluntary bankruptcy protection and plans to sell off a substantial portion of its Lower 48 assets. Hit by the oil price rout in 2015 and 2016, the Fort Worth, TX-based oilfield services operator successfully emerged from voluntary bankruptcy five years ago. After Covid-19 bashed energy demand last…

U.S. independent Contango Oil & Gas Co. plans to boost its natural gas production by more than half later this year with the acquisition of ConocoPhillips’ conventional assets in Wyoming’s Wind River Basin for $67 million. The assets are estimated to have a net production run rate of about 78 MMcfe/d as of July 1.…

ExxonMobil on Friday fired back in response to a report that it was under federal investigation for overvaluing its Permian Basin assets. According to a story published on Friday by The Wall Street Journal, the Securities and Exchange Commission is investigating ExxonMobil following a whistleblower complaint filed last fall. The complaint, said the newspaper, claims…

Eagle Ford Shale midstreamer Southcross Energy Partners LP, which filed for Chapter 11 restructuring earlier this year, has been given approval to sell some natural gas pipeline and infrastructure assets in South Texas to a unit of Kinder Morgan Inc.

Houston-based Spur Energy Partners LLC, formed earlier this year, has partnered up with sponsor KKR to buy some Permian Basin assets and acquire other properties across the Lower 48.

SandRidge Energy Inc. said it plans to continue developing its assets in Colorado, the Mississippian Lime and the Midcontinent after the board determined that multiple offers for a merger or a sale fell short of expectations.

BP plc late Thursday confirmed the rumors and agreed to pay $10.5 billion to acquire nearly all of BHP’s massive U.S. onshore portfolio, giving it entry into the Permian Basin in West Texas and substantial acreage in the Eagle Ford and Haynesville shales.