Memorial Resource Development consolidates into North Louisiana territory after trade of its East Texas and non-core Louisiana assets.
Cash flow from operations and credit borrowings will fund the 2015 budget.
The transactions will complement the company’s Cotton Valley, Haynesville and Bossier assets.
Analysts say they expect the M&A market to cool down as we move into 2015 and anticipate less than $2 billion in the first half of 2015.
The combination creates one of the largest gathering and processing systems in the Haynesville and Cotton Valley plays.
Pioneer puts proceeds from a Barnett sale to work in the Spraberry/Wolfcamp.
Larry Prado, Hart Energy's activity editor, summarizes some of the recent activity in the shales.
Complementary acreage positions create an upstream industry leader in East Texas.
The project is designed to support Haynesville and Cotton Valley oil and gas producers by providing enhanced access to the world’s largest NGL fractionation complex, located in Mont Belvieu.
The acquisition increases FTSI’s wireline capacity more than tenfold.