From the western Anadarko to the Arkoma Basin, these E&Ps—Tecolote Energy, Canyon Creek Energy and Presidio Petroleum—are drilling and delineating. Hear their results and plans.
Midstates Petroleum announced the sale earlier this year with proceeds of $58 million earmarked to pay down debt.
Proceeds from the sale of a 50% stake in Unit’s midstream affiliate will be used to accelerate the drilling program of its E&P in the Midcontinent and Texas Gulf Coast regions.
The investment, which is the New York-based firm’s first since closing Blue Wolf Capital Fund IV LP at its hard cap of $540 million in September 2017, is expected to facilitate rapid expansion at Petrosmith.
The acquisition in the Texas Panhandle will bring FourPoint’s production to more than 530 million cubic feet equivalent per day and give it control of 300 miles of pipe.
Les Austin has more than 23 years of energy finance and leadership experience. He replaces David T. Merrill, who held the position of CFO at Unit until he was promoted to COO in August.
Black Stone’s single largest deal to date expands its Permian presence with 15,500 net royalty acres in the Midland and Delaware basins.