Canada’s Baytex Adding Eagle Ford Heft in $2.5B Ranger Oil Acquisition

Canada’s Baytex Adding Eagle Ford Heft in $2.5B Ranger Oil Acquisition

Calgary’s Baytex Energy Corp. has agreed to acquire Eagle Ford Shale pure-play Ranger Oil Corp. in a cash, stock and debt deal valued at about $2.5 billion. The merger, slated to close by the end of June, would see Baytex acquire 741 net undrilled locations with inventory life of 12-15 years, management said. These include…

March 1, 2023

Ranger Energy Gets Takeover Offer from CSL, Bayou Well

Houston-based oil services firm Ranger Energy Services announced that it has received a nonbinding offer from investment firm CSL Capital Management LP and service company Bayou Well Holdings Company LLC to acquire the outstanding shares of common stock in a cash transaction for $6.00/share.

March 18, 2020

Matador Bullish on Permian’s Bone Spring Results in New Mexico

Dallas-based Matador Resources Co. flagged initial test results from three Permian Basin wells in Lea County, NM, which in aggregate over 24 hours flowed 7,856 boe/d, consisting of 7,172 b/d of crude and 4.1 MMcf/d of natural gas.

February 3, 2017

Ranger Energy Expanding U.S. Onshore Workover Business with OFS Tie-Ups

Houston-based Ranger Energy Services LLC agreed Wednesday to acquire privately held Bayou Workover Services LLC, a combination that would expand the customer base and its offerings in the U.S. onshore workover services market.

October 12, 2016

Triangle’s E&P Unit Reaches Deal With Creditors, Files For Chapter 11

After several months of negotiations with nearly three-quarters of its creditors, Triangle USA Petroleum Corp. (TUSA) and two of its affiliates voluntarily filed for Chapter 11 bankruptcy protection in Delaware on Wednesday.

June 30, 2016

Transportation Notes

Pacific Gas & Electric issued a customer-specific high-inventory OFO for Tuesday but did not keep it in effect for Wednesday. The OFO, which was not posted to the Pipe Ranger bulletin board until Monday afternoon, affected 13 customers.

July 9, 2008