Sundance Energy Australia Ltd. (NASDAQ: SNDE) said March 2 it entered an agreement to sell its Anadarko Basin assets in Oklahoma.
An undisclosed buyer agreed to pay $18.5 million to acquire about 18,500 net acres. The acquisition also includes 68 gross (29.3 net) operated and nonoperated producing wells.
Sundance's Anadarko assets target the Mississippian Lime and Woodford Shale formations and are located in Garfield, Logan, Noble and Oklahoma counties, Okla., according to the company's website.
The effective date of the acquisition is Aug. 1, 2016. The transaction is expected to close in May.
Recommended Reading
E&P Highlights: Aug. 1, 2022
2022-08-01 - Here’s a roundup of the latest E&P headlines including company updates from the past week in the upstream oil and gas industry.
Noble Inks $375 Million Deal to Divest Five Jackup Rigs
2022-06-23 - The rig divestment aims to address potential “issues related to lessening of competition created by the business combination” between Noble Corp. and Maersk Drilling initially announced last November.
How Shale Producers Can Deliver Oil and Gas for the Future
2022-06-28 - Because oil and gas will still be part of the energy mix, executives said it also makes sense to incentivize lower-carbon basins like the Bakken.
How Schlumberger is Helping E&Ps Reduce their Carbon Footprint
2022-06-30 - Schlumberger recently gave Hart Energy an inside look at the company’s creative solutions and technologies that help oil and gas producers reduce carbon and methane emissions.
Sembcorp Delivers World’s First 8th-gen Ultradeepwater Drillship
2022-06-29 - The world’s first eighth-generation drillship, the Deepwater Atlas, is expected to begin operations at the Shenandoah project in the Gulf of Mexico later this year, according to a Transocean release.