Net production is approximately 16 million cu. ft. of gas equivalent per day with net proved reserves of 78.1 billion equivalent, and net probable-plus-possible reserves of 110 billion equivalent.
• Petroleum Development Corp., Bridgeport, W.Va., (Nasdaq: PETD) has acquired substantially all the Exco Resources Inc., Dallas, (NYSE: XCO) assets in Wattenberg Field, Colorado, for $132 million. The assets cover approximately 30,108 net acres in the D-J Basin. Production is 7 million cu. ft. of gas equivalent per day with proved reserves of 49 billion cu. ft. equivalent (74% proved developed).
• EV Energy Partners LP, Houston, (Nasdaq: EVEP) plans to acquire gas properties in Michigan, including related hedges, for $71.6 million from certain institutional partnerships managed by EnerVest Management Partners Ltd.
The properties include 341 producing wells in Otsego and Montmorency counties, Mich.; proved reserves of approximately 56 billion cu. ft. (89% proved developed producing); and net daily production of approximately 6.85 million cu. ft. of gas.
• Energen Resources Corp., the E&P unit of Energen Corp., Birmingham, Ala., (NYSE: EGN) has acquired assets in the San Juan Basin in New Mexico from Dominion Resources Inc., Richmond, Va., (NYSE: D) for $30 million. The assets are in the Caracas Canyon and include estimated proved-plus-probable reserves of 30 billion cu. ft. of gas.
• Whiting Petroleum Corp., Denver, (NYSE: WLL) has sold its interests in several noncore properties in the U.S. and Canada to various undisclosed buyers for a total of $24.6 million in cash. The assets include interests in the Permian Basin, the Cessford Field in Alberta and the Ashley Valley Field in Uintah County, Utah. Net production sold is 413 BOE per day.
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