Double Eagle Energy Holdings and private equity firm Apollo Global Management have formed a partnership to invest in oil and natural gas properties in Oklahoma, focusing primarily on the Anadarko and Ardmore basins. Fort Worth, TX-based Double Eagle already has more than 500,000 acres across Texas and the Midcontinent, according to Co-CEO Cody Campbell. The partnership with Apollo “will provide a great opportunity to expand and continue our land-centered approach to oil and gas asset acquisition, which has proven successful over the last several years,” he said. Last year, Apollo led a consortium of private equity investors in a $7.15 billion leveraged buyout of El Paso Corp.’s exploration and production business, which included an array of liquids-rich U.S. unconventional property extending across Texas, Louisiana, the Raton Basin and the Rocky Mountains (see Shale Daily, Feb. 28, 2012).
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Articles from Rocky
Cash, Futures Dance Lower; May Still Holding $4
The natural gas cash market worked lower by 9 cents on average Tuesday for Wednesday delivery with all market and producing areas declining. Rocky Mountain points were hit hard, but locations in the Midwest were weak as well. Most major trading hubs lost anywhere from a nickel to a dime. At the close of futures trading the May natural gas contract had fallen 6.5 cents to $4.017 and June was off 6.1 cents to $4.057. May crude oil rose 84 cents to $94.20/bbl.
Gas Ignored in Replacing Idle California Nuke, Report Finds
Natural gas is little more than an afterthought in a recent Rocky Mountain Institute (RMI) report that recommends a combination of distributed generation and demand-side resources be applied as soon as possible to make up for the continuing outage at the 2,200 MW San Onofre Nuclear Generating Station (Songs) along the Southern California coast.
Piceance Sale Makes Antero an Appalachia Pure Play
Antero Resources is selling all of its natural gas and pipeline assets in the Piceance Basin for $325 million in cash plus assumption of its Rocky Mountain firm transportation obligations in order to focus more on the Marcellus and Utica shales.
Shell, Chevron Grab Chesapeake Permian Stakes
Chesapeake Energy Corp. on Wednesday clinched multiple agreements to sell most of its prized Permian Basin properties to heavyweights Royal Dutch Shell plc and Chevron Corp. and its remaining midstream properties to Global Infrastructure Partners (GIP), which together with other asset sales would give the cash-strapped producer total net proceeds of $6.9 billion.
Noble Continues Noncore Sales, Ramps up Denver-Julesburg
Noble Energy Inc. has agreed to sell oil and natural gas properties in Kansas, including about 250 producing wells on approximately 14,000 net acres, to an affiliate of Citation Oil & Gas Corp. for $140 million as part of an ongoing divestiture plan, the Houston-based company said Monday.
Voyager, Emerald Combo Strengthens Rockies Unconventional Focus
Denver-based explorer Voyager Oil & Gas Inc. on Tuesday agreed to buy a unit of Australia’s Emerald Oil & Gas NL in a deal that would create a U.S.-based Rocky Mountains operator focused on established and emerging unconventional oil and natural gas plays.
El Paso Completes Historic $8B Pipeline Backlog, Takes Loss on Ruby
Natural gas pipeline giant El Paso Corp. on Wednesday reported a one-time quarterly loss for its investment in the Ruby Pipeline, which is carrying Rocky Mountain gas to West Coast markets, but the company completed a historic $8 billion pipeline backlog and continues to add new projects to meet customers’ infrastructure needs, said CEO Doug Foshee.
Shale Gas, Oil Creating New World Order, Says IHS CERA’s Yergin
IHS CERA chairman Daniel Yergin, whose expertise about all things energy has made him a go-to authority, said Tuesday the world’s energy supply and demand picture is less clear today than it was a year ago.
Bentek: Marcellus Takeaway Capacity to Double by 2013
Marcellus Shale natural gas pipeline takeaway capacity will jump to 8.5 Bcf/d by 2013, more than double its current level, according to Bentek Energy LLC.
