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Fri, Oct. 3, 9:00 AM
- Linn Energy (LINE, LNCO) has struck deals to sell oil production assets in the Texas panhandle and western Oklahoma for $2.3B to repay debt it took on to finance its acquisition of Devon Energy assets in August.
- Linn will sell all its Granite Wash and Cleveland properties to affiliates of investment group EnerVest (OTC:EOSOF) for $1.95B, and is selling related midstream facilities.
- Additionally, the company will sell about 7,200 net acres in the Wolfberry field in Texas's Permian Basin to Fleur de Lis Energy for $350M.
- Linn expects to close the transactions in Q4, after which it would be left with 6,600 net acres producing 8M bpd in the Midland Basin.
- Previously: Linn Energy said to tap banks for $2B oil asset sale
- LINE +1.4%; LNCO +0.5% premarket
Nov. 5, 2013, 5:45 PM
- SM Energy (SM) agrees to sell all its properties in the Anadarko Basin, including its Granite Wash interests, to various affiliates of EnerVest (EOSOF) for $343M.
- Q3 production from the assets totaled ~8,500 boe/day, ~6% of SM's total production for the quarter.
- SM says the deal provided an opportunity to monetize a non-core asset to develop higher return assets.
Sep. 6, 2013, 8:38 AM
- EV Energy Partners (EVEP) and certain institutional partnerships managed by EnerVest (EOSOF) agree to acquire Barnett Shale natural gas properties from Carrizo Oil and Gas (CRZO) for ~$285M.
- The acquisition, first announced by CRZO on Wednesday, is comprised of 82 wells and ~9,500 net acres which are 100% held by production.
Aug. 16, 2013, 11:27 AM
- Aubrey McClendon is back with a vengeance in Ohio's Utica shale: His new American Energy Partners reportedly put up the high bid for 50K acres offered by Shell (RDS.A, RDS.B), and also is believed to have acquired 22K Utica acres from EnerVest (EOSOF.PK), one of Chesapeake’s (CHK) partners in Ohio.
- McClendon may be able to reassemble much of his old team; this week, CHK announced the immediate departures of four execs including operating chief Steve Dixon, while longtime general counsel Henry Hood and public affairs chief Tom Price left in May.
May. 21, 2013, 8:37 AMLaredo Petroleum (LPI) says it is selling all its Anadarko basin assets and properties to EnerVest (EOSOF.PK) for $438M. During Q1, LPI's Anadarko production was ~4.9B cubic feet of liquids-rich natural gas and ~49.6K barrels of crude oil and condensate; estimated proved reserves were 162B cubic feet of natural gas and 1.5M barrels of crude. | Comment!
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