BHP Billiton Ltd., whipsawed by sharp impairments and activist investors that want the company to train its development solely on conventional oil and mining, is actively marketing its U.S. onshore portfolio, an 800,000-plus leasehold that runs through the Permian Basin, Haynesville, Eagle Ford and Fayetteville shales.
Articles from Assets
Oklahoma City-based independent White Star Petroleum LLC has sold its midstream gathering system and associated assets in the state’s stacked reservoirs to 4 AM Midstream, a cross-town operator, for an undisclosed amount.
Houston’s Silver Run Acquisition Corp. II, helmed by former Anadarko Petroleum Corp. chief Jim Hackett, agreed late Wednesday to combine with Oklahoma-focused producer Alta Mesa Holdings LP and Kingfisher Midstream LLC.
Continental Resources Inc. CEO Harold Hamm said he would use asset sales and reduce activity in the Midcontinent, including the Springer Shale, to pare down long-term debt, which stood at $6.56 billion at the end of June.
Energy Transfer Partners LP (ETP) said Tuesday it has nearly completed a takeover of fellow Dallas-based partnership PennTex Midstream Partners LP.
Encana Corp. on Friday agreed to sell its natural gas assets in Colorado’s Piceance Basin, including 550,000 net acres and 3,100 operated wells to Denver-based Caerus Oil and Gas LLC in a deal valued at $735 million.
Linn Energy Inc. is completing its exit from California with the sale of some properties in the Los Angeles Basin to an undisclosed buyer for $100 million.
The general partner ofPennTex Midstream Partners LP has recommended that its unitholders accept a tender offer of $20/unit from Energy Transfer Partners LP (ETP) for all of the partnership’s outstanding common units. PennTex has assets in North Louisiana. Last fall, ETPannounced a $640 million deal to acquire an interest in the assets, which serve Range Resources Corp., among other producers. PennTex received the unsolicited offer from ETP last month.
SM Energy Co. said it has indefinitely postponed plans to sell its assets in Divide County, ND, after receiving bids that were lower than the company’s expectations.