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.
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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.
Ascent Resources LLC announced on Friday that it would acquire 113,400 net Utica Shale acres for $1.5 billion in a package of deals with multiple sellers, ballooning the company’s position in the play to more than 300,000 net acres and becoming one of the country’s largest private exploration and production (E&P) companies in the process.
Crescent Point Energy Corp. plans to sell some of its noncore assets in the Williston Basin for a total of C$280 million in a pair of transactions expected to close by the end of the month, the Calgary-based company said Tuesday.
California Resources Corp. (CRC) on Monday purchased the remaining interest in the historic Elk Hills oilfield in the San Joaquin Basin from Chevron Corp. for $460 million and 2.85 million common shares, giving it full ownership.
Fresh from closing on a pair of asset sales in the Appalachian Basin, Carrizo Oil & Gas Inc. said it will sell substantially all of its assets in the Denver-Julesburg (DJ) Basin to an undisclosed buyer for $140 million, the latest move in a divestiture program begun earlier this year.
Black Stone Minerals LP, one of the largest owners of oil and natural gas mineral interests in the United States, has entered into a farmout agreement to develop assets in trending plays in East Texas, and plans to acquire a package of properties spread across 20 states from Noble Energy Inc. for $340 million.
Rapid City, SD-based Black Hills Corp. has decided to sell what remains of its oil/natural gas business by the end of next year, CEO David Emery reported during a 3Q2017 earnings conference call on Friday. Included are San Juan Basin and Powder River Basin assets.
As operators use their capital for faster-to-market onshore prospecting, offshore exploration has declined and with it dealmaking, according to IHS Markit.
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.