The Houston Exploration Co., Houston, (NYSE: THX) plans to sell the Texas portion of its Gulf of Mexico assets to a private company for $220 million in cash in a transaction that is expected to close by the end of March. At year-end 2005, the assets included in this sale include proved reserves of approximately 58.5 billion cubic feet of gas equivalent. As announced in November 2005, Houston Exploration is in the process of implementing a strategic shift in its operations to focus its efforts in onshore U.S. basins. Wachovia Securities is financial advisor to The Houston Exploration Co.
Recommended Reading
Darbonne: The Geologic, the Man-made and the Political of Uinta Basin Outcrops
2024-10-01 - The oily western Uinta features layers of sedimentary deposits on view for visitors, mostly uninterrupted by man-made features but having an unseen pall of federal interference.
Baseline Energy Opens New Uinta Basin Power Generator Facility
2024-09-24 - Baseline Energy Services’ facility in the Uinta Basin plans to support the region’s mobile power generator fleet with a range of maintenance and repair services.
Now, the Uinta: Drillers are Taking Utah’s Oily Stacked Pay Horizontal, at Last
2024-10-04 - Recently unconstrained by new rail capacity, operators are now putting laterals into the oily, western side of this long-producing basin that comes with little associated gas and little water, making it compete with the Permian Basin.
US Drillers Add Oil, Gas Rigs for First Time in Four Weeks
2024-10-11 - The oil and gas rig count rose by one to 586 in the week to Oct. 11. Baker Hughes said the total count was still down 36 rigs or 6% from this time last year.
US Drillers Cut Oil, Gas Rigs for Third Week in a Row
2024-10-04 - The oil and gas rig count fell by two to 585 in the week to Oct. 4.
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.