Tag: acreage
Parsley Energy grows wild in Permian Basin of West Texas
Last month, Parsley paid US$19,800 per acre for additional Midland basin acreage Following last month’s acquisition of nearly 18,000 net acres in the Midland basin, Parsley Energy this week purchased Double Eagle Energy’s assets, adding 71,000 net acres with 3.6 mboe/d of production, according to Wood Mackenzie. The addition of these assets will nearly double […]
Permian Basin acreage hotter than 4th of July in Midland; $20 Billion spent – IHS
Permian Basin M&A activity accelerates as companies seek profitability at current prices Driven by the potential for profit at current oil prices, oil and gas companies are clamoring for more acreage in the Permian Basin and its sub-plays, spending close to $20 billion year-to-date in 2016, according to new analysis from IHS Markit. The spending […]
EQT increases core Marcellus acreage position with $683 million acquisition
Over past 4 years, EQT acquired 230,000 core Marcellus acres and developed 44,000 acres EQT Corporation says it signed definitive agreements to acquire additional core Marcellus acreage, consisting of 42,600 net acres and current natural gas production of approximately 42 MMcfe per day from Trans Energy, Inc. and entities affiliated with Republic Energy, according to a press release. […]
Concho Resources completes $1.62 billion acquisition of Midland Basin assets
Concho Resources acquires 10 million boe/d in deal, 67% comprised of oil MIDLAND, Texas – Concho Resources Inc. completed acquisition of 40,000 net acres in the core of the Midland Basin from Reliance Energy for approximately $1.625 billion. The acquired assets, which are located in Andrews, Martin and Ectorcounties in Texas. Concho is currently running one rig […]
SM Energy Cores up in Midland Basin with simultaneous transactions
SM Energy funding majority of $1.1 billion portion of acquisition with proceeds from Williston Basin asset sale DENVER – SM Energy Company announced it entered into a purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas, expanding the company’s Midland Basin footprint to approximately 82,450 net acres. The acquired acreage […]
Mexco Energy announces sale of Permian acreage to Parsley Energy
Mexco Energy Corporation, based in Midland, Texas, announced the sale of certain oil and gas properties in Glasscock County, Texas. Mexco received approximately $2.187 million in cash from a sale of working interests to Parsley Energy, Inc. covering 50 net acres located in Glasscock County, Texas in the horizontal Wolfcamp trend of the Permian Basin in […]
Permian Basin: a bright spot for the industry and for Texas
Permian Basin a major player in financial fortunes of Texas for a century now, since completion of first Westbrook Field well in 1921 By David Blackmon, EnergyInDepth The last two years have been a challenging period for the domestic exploration and production industry, as the global price for crude oil collapsed and has been slow […]
SM Energy acquires 24,783 Permian Basin net acres
Purchase price of Permian Basin acreage is $980 million and the seller is Rock Oil Holdings LLC DENVER – SM Energy Company has announced a purchase agreement to acquire 24,783 net acres in Howard County, West Texas, expanding the company’s Midland Basin footprint to approximately 46,750 net acres. The acquired acreage position is largely contiguous and […]
EQT acquires 62,500 core Marcellus acres for $407 Million
Acquisition includes drilling rights on an undeveloped 53,000 net acres for the deep Utica PITTSBURGH – EQT Corporation today announced that it has signed a definitive agreement to acquire 62,500 net acres, and current natural gas production of 50 MMcfe per day from Statoil USA Onshore Properties, Inc. (Statoil), $407 million, subject to customary closing conditions. […]
Luxe Energy acquires 18,000 net acres in core of Delaware Basin
18,000 net acres, majority operated with high average working interest As oil prices continue to drop, more and more companies are crowding into the Permian Basin, including Austin-based Luxe Energy, which recently acquired acreage in the Delaware. Luxe Energy LLC announced Tuesday that it had acquired undeveloped acreage and producing oil and gas properties located […]
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