“We are fundamentally resetting Chesapeake’s capital structure and business to address our legacy financial weaknesses and capitalize on our substantial operational strengths,” CEO Doug Lawler said in a statement.
Though specific terms of the transaction were not disclosed, Empire Pipeline said in a statement on June 25 it acquired the Gibson termianl from affiliates of Royal Dutch Shell.
Wolfcamp-Spraberry Trend wells completed by Earthstone Energy in the Permian Basin plus four strong Haynesville Shale discoveries from two separate pads in Louisiana’s Sabine Parish top this week’s drilling activity highlights from around the world.
The Ingleside Pipeline, a 24-mile, 24-inch oil pipeline, has a capacity of 600,000 bbl/d with up to 380,000 bbl/d supplied by the existing Harvest Eagle Ford pipeline systems.
More than half of the 160 energy executives surveyed in the top U.S. oil and gas producing region sought federal aid as a cushion against the economic downturn.
Crude oil inventories also hit another record high on the U.S. Gulf Coast, where the bulk of the nation's refining capacity is located.
Here’s a snapshot of recent energy deals including a ‘tactical’ bolt-on acquisition in the U.S. Gulf of Mexico Shelf by Talos Energy.