Puts

Chesapeake Energy Corp. on Friday agreed to sell an estimated 99,000 net acres in southwestern Pennsylvania, including 10 wells, to EQT Corp. for $113 million, which puts the sale price at roughly $876/acre.

Encana Corp. on Thursday struck a C$2.18 billion joint venture (JV) agreement to explore and develop close to half a million acres of its leasehold in the Duvernay Shale with a subsidiary of PetroChina International Ltd.

The strong resurgence in exploration and production (E&P) activity in the deepwater Gulf of Mexico (GOM) puts the offshore region well on its way to a “new equilibrium” in 2013, according to Wood Mackenzie.

The strong resurgence in exploration and production (E&P) activity in the deepwater Gulf of Mexico (GOM) puts the offshore region well on its way to a “new equilibrium” in 2013, according to new research by Wood Mackenzie.

Investors apparently approved of Philadelphia-based Atlas Resource Partners LP’s deal to acquire 277 Bcfe of proved reserves, including undeveloped drilling locations, in the Barnett Shale from Carrizo Oil & Gas. Atlas shares closed up 32% Friday following the deal’s announcement.

A Pennsylvania township has filed lawsuit against its county board of elections, arguing that a referendum put forth by an environmental group that would ban hydraulic fracturing (fracking) in the township violates several state laws and could expose the municipality to legal action by the industry and others.

Former Quebec Premier Lucien Bouchard, who now serves as president of the Quebec Oil and Gas Association (QOGA), said the organization welcomed the provincial government’s response to a report on hydraulic fracturing (hydrofracking) in the Utica Shale play.

Petrohawk Energy Corp. has sold its natural gas assets in the Fayetteville Shale to XTO Energy Inc., a subsidiary of ExxonMobil Corp., for $575 million, the company said. The deal puts ExxonMobil at No. 2 in the Fayetteville leaseholder pack.

ExxonMobil Corp. unit XTO Energy Inc. is picking up the Fayetteville Shale natural gas assets of Petrohawk Energy Corp. for $575 million. The deal puts ExxonMobil at No. 2 in the Fayetteville leaseholder pack.