Dune Energy Inc., Houston, (Amex: DNE) plans to acquire Houston-based Goldking Energy Corp., for $302.5 million in cash and $18 million in stock in a total deal valued at $320.5 million. Goldking has properties on more than 65,000 net acres onshore the Gulf Coast of Louisiana and Texas. Proved reserves are 112 billion cubic feet of gas equivalent. Pro forma, Dune will have proved reserves of approximately 142 billion cubic feet equivalent (41% proved developed, 63% gas).
Recommended Reading
Baker Hughes: US Drillers Add Oil, Gas Rigs for Third Week in a Row
2025-02-14 - U.S. energy firms added oil and natural gas rigs for a third week in a row for the first time since December 2023.
Exxon Seeks Permit for its Eighth Oil, Gas Project in Guyana as Output Rises
2025-02-12 - A consortium led by Exxon Mobil has requested environmental permits from Guyana for its eighth project, the first that will generate gas not linked to oil production.
VoltaGrid to Supply Vantage Data Centers with 1 GW of Powergen Capacity
2025-02-12 - Vantage Data Centers has tapped VoltaGrid for 1 gigawatt of power generation capacity across its North American hyperscale data center portfolio.
Chevron Completes Farm-In Offshore Namibia
2025-02-11 - Chevron now has operatorship and 80% participating interest in Petroleum Exploration License 82 offshore Namibia.
E&P Highlights: Feb. 10, 2025
2025-02-10 - Here’s a roundup of the latest E&P headlines, from a Beetaloo well stimulated in Australia to new oil production in China.
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.