Partnerships

The Northern Ute Indian Tribe has officially launched a new exploration and production company, Ute Energy, which announced several partnerships Thursday with Questar, Bill Barrett Corp., Berry Petroleum and Fidelity Investors Management LLS. The new company will develop oil and gas resources on tribal lands in northeastern Utah

Petrohawk Energy Corp. closed a $425 million acquisition of Wynn-Crosby Energy Inc. and affiliated limited partnerships, which collectively hold about 200 Bcfe of proved reserves in the South Texas, East Texas, Permian, Arkoma and Midcontinent regions. The purchase brings Petrohawk’s total proved reserves to 233 Bcfe, 74% of which are natural gas. It average current production is 57 MMcfe/d. The company funded the transaction with proceeds from a $200 million private equity placement, $210 million in borrowings from its commercial bank group, and cash.

Petrohawk Energy Corp. closed a $425 million acquisition of Wynn-Crosby Energy Inc. and affiliated limited partnerships, which collectively hold about 200 Bcfe of proved reserves in the South Texas, East Texas, Permian, Arkoma and Midcontinent regions. The purchase brings Petrohawk’s total proved reserves to 233 Bcfe, 74% of which are natural gas. It average current production is 57 MMcfe/d. The company funded the transaction with proceeds from a $200 million private equity placement, $210 million in borrowings from its commercial bank group, and cash.