EPE deals away its assets in Louisiana and East Texas for $420 million as another private equity company delves into natural gas.
The assets being sold generated $3.4 million of royalty revenues in 2015 and do not include NRP's nonoperated Bakken interests or the VantaCore aggregates operations.
View Large MapCompanyNet AcreageChesapeake Energy387,000Anadarko210,000BHP Billiton200,000EOG Resources143,000All Top Acreage Holders
The acreage swap will allow the company to increase the number of its Haynesville Shale drilling inventory by 39 locations, including 33 extended reach lateral locations.
Matthew H. Fleeger, CEO of Gulf Coast Western, said the transaction included certain data for the company’s 42-sq mile Bonanza Project in Evangeline and St. Landry parishes.
For several days during the last week of the year, much of the Delaware Basin production was shut in due to winter storms in West Texas and New Mexico. This production is currently back online, Matador added.
Cynthia Jaggi was promoted to senior vice president of engineering and operations services, and Michael LeBlanc was promoted to senior vice president of liquids business unit operations.
People familiar with private matter said that Freeport-McMoRan's board retained Lazard to advise on possibly selling all oil and gas interests, which may be worth more than $3 billion, Reuters reported.
The partners said they would take a final investment decision on the project, expected to export around 15 million metric tonnes of LNG a year.
UpCurve will initially focus on leveraging its expertise in both horizontal recompletions and unconventional development in prolific shale formations such as the Eagle Ford, Haynesville and Bakken.