Minneapolis-based Avalon Oil and Gas Inc. has formed a limited partnership (LP) with Drax Holdings N.A. with the intention of purchasing non-operated oil and gas properties currently producing in Oklahoma and Texas.
Articles from Avalon
Gastar Exploration Ltd.said it is closing on the sale of its East Texas properties toCubic Energy Inc., a transaction that was delayed multiple times to accommodate the financing needs of Cubic (seeShale Daily,Sept. 25). Gastar said it expects to receive $39.2 million in proceeds in addition to the $4.7 million deposit previously paid by Cubic by Oct. 2. The deal was announced in April (seeShale Daily,April 23).
Atlas Pipeline Partners LP stepped deeper into the Eagle Ford Shale in South Texas on Tuesday with a $1 billion cash agreement to buy privately held Teak Midstream LLC, a natural gas gathering and processing operator.
Endurance Resources Holdings LLC announced Monday that Lime Rock Partners, a global energy-focused private equity firm, had committed $100 million for Endurance to acquire oil-focused assets and additional opportunities in two Southeast New Mexico counties that overlay the Bone Spring formation.
Anadarko Petroleum Corp. said Tuesday four core U.S. onshore operating plays — the Wattenberg Field in Colorado, the Greater Natural Buttes in Utah, and the Marcellus and Eagle Ford shales — eclipsed production records in November, with each one exceeding a gross processed production milestone of 100,000 boe/d.
Crestwood Midstream Partners Monday said it has completed the acquisition of gathering and processing assets from subsidiaries of Devon Energy Corp. for $87.1 million, which is $2.9 million less than the originally reported acquisition price (see Shale Daily, July 25).
Crestwood Midstream Partners LP late Monday agreed to pay $90 million to buy some of Devon Energy Corp.’s midstream assets in the Barnett Shale and to process the producer’s natural gas output from 20,500 dedicated acres, now estimated at 95 MMcf/d, over a 20-year period.
DCP Midstream LLC plans to build a 75 MMcf/d gas processing plant in Glasscock County, TX, and an associated low-pressure gathering system to service producers focused on the Wolfberry play in the Permian Basin of West Texas.
Shale gas resources — and growing output from shale oil — will offset declines in other U.S. supplies through 2035, the Energy Information Administration (EIA) reported Thursday.