Assets

Lower 48 E&P Venture, Led by Former California Resources Team, Gets $500M Backing from Kayne Anderson

Lower 48 E&P Venture, Led by Former California Resources Team, Gets $500M Backing from Kayne Anderson

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…

August 20, 2021
Basic Energy Seeking Chapter 11 Protection, Looking to Unload Lower 48 Assets

Basic Energy Seeking Chapter 11 Protection, Looking to Unload Lower 48 Assets

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…

August 20, 2021
Contango Snags ConocoPhillips’ Gassy Wind River Assets for $67M

Contango Snags ConocoPhillips’ Gassy Wind River Assets for $67M

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.…

July 9, 2021
ExxonMobil Decries ‘Demonstrably False’ Report Regarding Permian Valuation

ExxonMobil Decries ‘Demonstrably False’ Report Regarding Permian Valuation

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…

January 15, 2021
Kinder Morgan Snaps Up South Texas Natural Gas System from Southcross

Kinder Morgan Snaps Up South Texas Natural Gas System from Southcross

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.

November 7, 2019

KKR Saddles Up with Spur Energy to Prospect in Permian and Beyond

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.

May 14, 2019

SandRidge Rejects Offers, Chooses to Develop Assets Instead

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.

September 12, 2018
BP Builds Lower 48 Heft, Enters Permian with $10.5B Takeover of BHP Assets

BP Builds Lower 48 Heft, Enters Permian with $10.5B Takeover of BHP Assets

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.

July 27, 2018
BP’s $10.5B Leap into Lower 48 Onshore with BHP Buy ‘Transformational’

BP’s $10.5B Leap into Lower 48 Onshore with BHP Buy ‘Transformational’

BP plc late Thursday 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, doubling its Haynesville Shale position and adding attractive acreage in the Eagle Ford Shale.

July 27, 2018

Brief — QEP Divestiture

QEP Resources Inc. has agreed to sell some of its Uinta Basin assets to Middle Fork Energy Partners LLC for $155 million. The divestiture, subject to customary purchase price adjustments, includes 605 Bcfe of proved reserves and production of 54 MMcfe/d in 1Q2018, consisting of 23% liquids. The properties are located in Duchesne and Uintah counties in eastern Utah. QEP also operates in the Haynesville Shale, and the Williston and Permian basins.

July 10, 2018
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