Eagle Ford Shale pure-play Penn Virginia Corp. has agreed to buy Lonestar Resources Inc. in a deal that would expand its South Texas leasehold. Once completed, the Houston-based independent would control 143,000 net acres within the Eagle Ford, including Lonestar’s 53,000 net acres. Total sales volumes would be around 38,000 boe/d, up by about 13,000. …
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Energy Transfer Boosts Permian NGL Takeaway with Lone Star Expansion
Energy Transfer LP (ET) on Tuesday said a 400,000 b/d expansion of the Lone Star Express Pipeline has been completed, boosting eastbound natural gas liquids deliveries from the Permian Basin. The 352-mile, 24-inch diameter pipeline, completed ahead of schedule and on budget, originates in Winkler County, TX, and connects to the existing Lone Star Express…
Lonestar Adds 30,000 South Texas Acres For $117M
Lonestar Resources US Inc. said Tuesday it is acquiring more than 30,000 gross (21,238 net) acres in the Eagle Ford Shale in South Texas for a total purchase price of $116.6 million.
Briefs — SM Energy
Denver-based SM Energy Co. has hired Petrie Partners to sell noncore assets in the Williston Basin’s Bakken Shale to focus additional capital on the Permian Basin and Eagle Ford Shale. According to the company, about 54,500 net acres are being marketed, consisting of the Raven/Bear Den acreage and leases outside the Divide County, ND, development.