Divestiture

With a private equity (PE) infusion, Abraxas Petroleum Corp. is ready to restart oil and natural gas development in the Permian Basin as a Delaware pure-play, the San Antonio, TX-based independent said Monday. The company, which has faced financial issues over the last couple of years, said it completed a strategic review to consider its…

BreitBurn Energy Partners LP is adding to its Permian Basin portfolio after agreeing to pay about $860 million for stakes in Whiting Petroleum Corp.’s Postle and North East Hardesty oilfields in Oklahoma.

Rosetta Resources Inc. has agreed to pay Comstock Resources Inc. $768 million for a package of Permian Basin oil and liquids-rich assets, giving it entry into the West Texas basin.

SM Energy Co. raised its guidance for 2011 and introduced plans for 2012 that surpass what analysts were expecting as company executives emphasized a sharpened focus on the Eagle Ford Shale in South Texas.

Petrohawk Energy Corp. has gone west in pursuit of oil and liquids-rich gas production from the Permian Basin, adding to its established holdings in the Eagle Ford and Haynesville shales.

To meet its $30 billion divestiture target by the end of 2011 BP plc will continue to sell properties, including in the United States and Canada, the producer said in its annual report.

To meet its $30 billion divestiture target by the end of 2011 BP plc will continue to pare its assets with sales in the United States, Canada and the United Kingdom, the producer said in its annual report, which was released on Thursday.

ExxonMobil Corp. has a bundle of natural gas-heavy properties in Texas and Canada up for sale, according to Indigopool.com, Schlumberger’s acquisition and divestiture website.

ExxonMobil Corp. has a bundle of natural gas-heavy properties in Texas and Canada up for sale, according to Indigopool.com, Schlumberger’s acquisition and divestiture website.