Entered

Wrapping up a busy Tuesday of transactions with an overarching theme of cooperation on different continents, an ExxonMobil Corp. subsidiary has entered a farm-out agreement with a subsidiary of Canada-based Americas Petrogas for the exploration and potential exploitation of shale in Americas Petrogas’s Los Toldos blocks (163,500 gross acres) located in Neuquen, Argentina.

Seeds from the North American shale gas revolution have been carried around the globe and planted, and it’s only a matter of time before many countries have their own where natural gas is concerned, longtime energy industry executive Chuck Watson told a Houston audience Thursday.

Houston-based independent Lucas Energy Inc. has entered a joint venture with Marathon Oil (East Texas) LP, a unit of Marathon Oil Corp., to develop the Eagle Ford and Buda formations in Wilson County, TX. Marathon Oil has acquired 50% of the leasehold interest rights, representing about 1,000 net acres (below the base of the Austin Chalk formation) held by Lucas in a majority of Lucas’ leases in Wilson County. Marathon Oil will be the operator, but Lucas will still own and operate rights above the Eagle Ford, primarily in the Austin Chalk, Lucas said. Lucas has a variety of working interests in Wilson County, which is south of San Antonio, ranging from 20% up to 100%. The Austin Chalk formation (and above), the current well bores and equipment, and the current production from the Austin Chalk and above are not included in the Marathon transaction. Financial details were not disclosed.

The U.S. exploration and production (E&P) sector has entered an energy “supercycle” as the market begins to realize the magnitude of “real” asset growth from the abundance of onshore reserves and the potential from liquids and natural gas shales, said FBR Capital Markets analysts last week.

The U.S. exploration and production (E&P) sector has entered an energy “supercycle” as the market begins to realize the magnitude of “real” asset growth from the abundance of onshore reserves and the potential from liquids and natural gas shales, said FBR Capital Markets analysts.

Clayton Williams Energy Inc. (CWEI), an independent energy company based in Midland, TX, has entered into an agreement with Chesapeake Exploration LLC in the Delaware Basin oil play. Under the terms of the agreement, CWEI can earn 75% interest in leases held by Chesapeake on about 75,000 net acres in southern Reeves County, TX. CWEI will drill at least 20 earning wells in the first year and have an option to drill an additional 20 wells per year during the next four years to earn all of Chesapeake’s acreage. CWEI will also carry Chesapeake for one-quarter of the costs in earning wells, which will earn CWEI a 75% interest in 640 net acres. Subsequent wells in an earned area will be drilled on a heads-up basis. CWEI will receive credit towards its annual drilling obligations for drilling more than 20 earning wells in any year.

Marathon Oil Corp. said Wednesday it will spend up to $1 billion this year on three of its highest “growth assets,” all U.S. shale projects: North Dakota’s Bakken play, the Eagle Ford in Texas and the Anadarko Woodford in Oklahoma.

Seal Beach, CA-based Clean Energy Fuels Corp. announced Wednesday that it has entered a securities purchase agreement to acquire fueling technology provider Wyoming Northstar Inc. for $10.9 million in cash.

Fort Worth, TX-based Quicksilver Resources Inc. has entered into a confidentiality agreement with a group of investors that includes Quicksilver CEO Glenn Darden, Chairman Thomas Darden and the Darden family-controlled Quicksilver Energy LP. The group may seek to take Quicksilver private.