Newfield Exploration Shutters Offices In Denver, Houston
The company is aggressively looking to cut costs after it reported a $10 million severance expense in the first quarter of 2015 as it cut staff by 15%.
Japan’s Itochu Loses Money On Samson Investment Co. Buyout
Tokyo-based trader Itochu Corp. lost 38 billion yen (US$317 million) on low energy prices from its 25% stake in KKR’s 2011 buyout of Tulsa, Okla.-based Samson Investment Co., Bloomberg said.
Sabine’s Lenders Might Reduce Credit Line
The fully drawn $1 billion revolving credit line, drawn March 15, could be cut due to low oil prices, Reuters said. Sabine had about $327 million in cash on hand.
Midcontinent Operator Osage Exploration Sees 300% Increase In Daily Production
The McNally 1-29MH, a horizontal Mississippian well in Section 29-17N-2W, has reached a one-day production rate of 695 boe.
JV Pays $2 Billion For Linn’s Granite Wash, Cleveland Play Stakes
The joint venture (JV) between FourPoint Energy LLC and EnerVest Ltd. has already spent $1.2 billion in gross capital.
Linn Energy Announces $2.3 Billion Of Asset Sales, Including Granite Wash And Cleveland Plays
Proceeds from these sales are expected to finance the company's $2.3 billion acquisition of assets from Devon Energy Corp., which closed in August 2014.
Newfield Exploration Closes On $588 Million Sale Of Granite Wash Assets
Proceeds will be used to call Newfield's 71/8 % senior subordinated notes due 2018.
Newfield Exploration Cashes Out Of Granite Wash
The sale should more than offset Newfield’s expected funding gap in 2014.
Newfield To Sell Granite Wash Assets For $588 Million
Proceeds to be used to reduce long-term debt.
EnerVest, FourPoint Energy Announce $275 Million In Joint Venture Oil & Gas Acquisition
The deal includes acreage and producing wells in the Granite Wash formation.