Houston-based independent Magnum Hunter Resources Corp.’s Triad Hunter LLC unit has bought Marcellus Shale oil and gas properties and leasehold mineral interests in Wetzel County, WV, for $20 million, the company said. The assets acquired include 2,225 net contiguous acres containing 20 identified horizontal drilling locations, of which seven gross locations are currently booked as proved undeveloped. A company analysis conducted in December found that the assets contained total proved reserves of about 11.5 Bcfe (16% proved developed producing) with net production of 517 Mcfe/d (100% natural gas).
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Articles from Bought
Dynegy CEO, Directors Resign; Sale to Icahn Dropped
Houston-based Dynegy Inc. announced a senior management shakeup Tuesday at the same time it said it has terminated an offer to be bought by a unit controlled by billionaire Carl Icahn, a major shareholder in the company. CEO Bruce Williamson and CFO Holli Nichols resigned, effective March 11, and five board members will not stand for reelection.
February 23, 2011
Shale Midstream the Focus of El Paso, KKR Partnership
El Paso Midstream Group Inc. and private equity firm Kohlberg Kravis Roberts & Co. (KKR) on Tuesday announced a $1 billion-plus joint venture (JV) that would focus on domestic natural gas midstream projects in some of the big shale plays.
December 8, 2010
Baker Hughes Performance ‘Dominated’ by North America
Baker Hughes Inc., which bought onshore pressure pumping specialist BJ Services Inc. to boost its North American business, last week reported a huge jump in quarterly profits both from a year ago and sequentially, with most of the gains in unconventional basins in the United States and Canada.
November 8, 2010
Baker Hughes 3Q Profits Surge in North America
Baker Hughes Inc., which bought onshore pressure pumping specialist BJ Services Inc. to boost its North American business, on Monday reported a huge jump in quarterly profits from a year ago and sequentially, with most of the gains from unconventional basins in the United States and Canada.
November 2, 2010
Marketer Touting Marcellus Gas With ‘Buy Local’ Pitch
Two veteran energy executives are building a regionally focused gas marketing business in New York and Pennsylvania on the back of the Marcellus Shale. EnergyMark LLC recently bought New York and Pennsylvania assets of Constellation NewEnergy-Gas Division LLC, which is a subsidiary of Constellation Energy Group Inc.
February 22, 2010
Marketer Touting Marcellus Gas With ‘Buy Local’ Pitch
Two veteran energy executives are building a regionally focused gas marketing business in New York and Pennsylvania on the back of the Marcellus Shale. EnergyMark LLC recently bought New York and Pennsylvania assets of Constellation NewEnergy-Gas Division LLC, which is a subsidiary of Constellation Energy Group Inc.
February 19, 2010
Marketer Touting Marcellus Gas With ‘Buy Local’ Pitch
Two veteran energy executives are building a regionally focused gas marketing business in New York and Pennsylvania on the back of the Marcellus Shale. EnergyMark LLC recently bought New York and Pennsylvania assets of Constellation NewEnergy-Gas Division LLC, which is a subsidiary of Constellation Energy Group Inc.
February 19, 2010
DCP Midstream Buys Rockies NGL Pipeline From Buckeye Partners
DCP Midstream Partners LP has bought a Colorado-to-Kansas natural gas liquids (NGL) pipeline system from Buckeye Partners LP for $22 million in cash, the companies said Thursday. The partnership said the acquisition supports its expansion efforts that target growing producer demand.
January 29, 2010
DCP Midstream Buys Rockies NGL Pipeline From Buckeye Partners
DCP Midstream Partners LP has bought a Colorado-to-Kansas natural gas liquids (NGL) pipeline system from Buckeye Partners LP for $22 million in cash, the companies said Thursday. The partnership said the acquisition supports its expansion efforts that target growing producer demand.
January 29, 2010
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