Deal Gives Encana Exit From Louisiana Haynesville
After a decade in the Haynesville, the company shifted from natural gas to a broader asset base that included liquids. The company also gains relief from obligations to its midstream assets.
GE Will Cut More Jobs At Lufkin Oil Unit In Texas
Jobs across two sites of Lufkin oil unit in Angelina County, Texas, will be eliminated. GE plans to cut $600 million in oil and gas division costs, Reuters said.
Goodrich Petroleum CFO Resigns
Jan Schott will remain with Goodrich Petroleum through early September to assist the company during the initial transition phase.
Samson Resources Corp. Finalizes Restructuring Plan
Samson engaged Blackstone Advisory Partners as its investment banker and Alvarez & Marsal North America as its restructuring adviser. Samson’s restructuring counsel is Kirkland & Ellis, Reuters said.
America Resources Acquires Interest In Carthage Field Wells
ExxonMobil Corp.’s subsidiary XTO Energy Inc. operates both wells. In 2009, the Haynesville was estimated to have 75Tcf of recoverable gas, second only to the Marcellus Shale.
Freeport-McMoRan Cuts 2016-2017 Oil, Gas Budget
The 2016 and 2017 budget was cut by 31%, to $2 billion per year. Freeport's stock lost value this year on debt concerns and sliding copper prices, Reuters said.
White Marlin Closes Dune Energy Assets Acquisition
A July 10 bankruptcy court order approved the sale of Dune’s interests in 11 fields including Abbeville North. White Marlin paid $19 million for the assets.
Shales See Permits Decline By 13% In Second Quarter
The news comes on the heels of an anemic first quarter in which permits applications dropped 32% and gas play applications fell by 35%.
US Shale A Bright Spot For BHP Billiton
The diversified mining and petroleum company attributes its big boost in liquids production to significant improvements in drilling and completions efficiency in the Eagle Ford Shale and Permian Basin.
Samson Resources' Lenders Target Restructuring For $4.15 Billion Debt
Samson Resources Corp.’s lenders target restructuring deal for $4.15 billion debt. A $110 million interest payment on bonds is due Aug. 15, people with knowledge of private matter told Bloomberg.