Constellation Energy Partners LLC, Baltimore, (NYSE: CEP) plans to acquire Amvest Osage Inc., a subsidiary of privately held, Charlottesville, Va.-based Amvest Corp., for $240 million. Amvest Osage owns producing and undeveloped properties in the Cherokee Basin in Oklahoma, including a 560,000-net-acre concession for coalbed-methane and shale rights from the Osage Native American Nation. The assets feature 370 producing wells with a general 100% working interest. Amvest Osage will become a subsidiary of Constellation. Net production is approximately 16 million cubic feet of gas equivalent per day. Proved reserves as of March 31 were 93 billion billion cubic feet equivalent.
Recommended Reading
US Offshore Driller Asks Judge to Block Insurers' Demands for $250MM Collateral
2024-12-12 - W&T Offshore has asked a federal judge to block insurance companies' demands for $250 million.
Biden Bans E&Ps from 625 Million Acres of Offshore Oil, Gas Leases
2025-01-06 - While the White House said the move doesn’t affect existing leases, oil and gas industry groups called excluding offshore waters “significant and catastrophic.”
Could Trump’s Ban on Wind Leasing Halt Similar Oil and Gas Sales?
2025-01-23 - A law signed during the Biden administration ties offshore wind lease sales to similar auctions for oil and gas rights on federal lands. It’s unclear whether President Trump’s Jan. 20 executive order to halt wind leasing could spill over into the E&P world.
Burgum: Yes to US Power Supply, Reliability; No on Sage Grouse
2025-01-16 - Interior Secretary nominee Doug Burgum said the sage grouse is neither endangered nor threatened; he'll hold federal leases as scheduled; and worries the U.S. is short of electric power and at risk of losing the “AI arms race” to China and other adversaries.
Biden to Ban Offshore Oil, Gas Drilling in Vast Areas Ahead of Trump Term
2025-01-06 - The ban is set to affect 625 million acres of ocean but mostly covers areas without important drilling prospects.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.