Enervest

TGP Pace Energy Holdings Corp., led by former Occidental Petroleum Corp. (Oxy) CEO Stephen Chazen, on Tuesday clinched a partnership with EnerVest Ltd. to form South Texas pure-play Magnolia Oil & Gas Corp.

Houston-based EnerVest Ltd., one of the largest privately held onshore exploration operators in the United States, is working with its investors and lenders to recapitalize over-leveraged equity funds and may sell more assets to ensure it is in compliance. However, one of the funds is not about to be taken over by one of the lenders, a spokesman told NGI.

An affiliate of Jericho Oil Corp. has clinched its fifth deal since early 2015 to add acreage in Oklahoma, this time with EnerVest Ltd.

EnerVest Ltd. has agreed to pay $1 billion for two separate packages of onshore, unconventional properties, including one in the Eagle Ford Shale, where the Houston-based operator has been particularly acquisitive.

In a second investigation into a drilling waste injection well and its potential link to seismic activity, Railroad Commission of Texas (RRC) examiners said in a proposed decision that a “preponderance of the evidence” does not support a “likely” link between waste injections and small earthquakes.

EnerVest Ltd. reported Monday that it is on target to clear more than $1 billion in oil and natural gas asset acquisitions within the United States for the fourth year in a row. In 2013 the company is adding to its Midcontinent, Barnett Shale and San Juan Basin acreage, in addition to snapping up its first piece of the Uinta Basin in Utah.

EV Energy Partners LP (EVEP) is working on “several other opportunities” in the Utica Shale, where it is continuing a dual strategy of offering its wet gas acreage for sale while also looking for joint venture (JV) partners to help de-risk the play’s oil window.

Gulfport Energy Corp. smashed its natural gas, oil and liquids production records in 2Q2013 with total output at 815,300 boe, with the Utica Shale the outstanding contributor. A year earlier the operator produced a total of 663,300 boe.

EnerVest Ltd., the second biggest leaseholder in the Utica Shale after Chesapeake Energy Corp., should complete the sale of a big chunk of its leasehold by the end of the year, CEO John Walker said Friday. The property sale could fetch as much as $6 billion for the privately held Houston operator and publicly traded arm EV Energy Partners (EVEP).