Archrock’s acquisition of Elite Compression Services also included a $30 million sale with Harvest Midstream plus the addition of Hilcorp Founder Jeffery Hildebrand to its board.
The Fort Worth, Texas-based independent reported June 24 average test rates of about 2,500 barrels of oil equivalents per day (boe/d) for its Horned Frog F #A1H and F #B1H in La Salle County, Texas.
Alliance Resource Partners agreed to acquire assets from NGP-backed Wing Resources as the coal producer continues to grow its oil and gas minerals segment, particularly in the Permian Basin.
ConocoPhillips is currently operator of the block, with a 54% participating interest. Repsol and Indonesian national upstream company Pertamina own 36% and 10%, respectively.
Representing a new generation of nimble entrepreneurs, Ameredev CEO Parker Reese had quick success in his first private-equity outing. With the E&P playing field shifting, can he do it again?
Maverick Natural Resources retained EnergyNet for the sale of oil and gas assets in Northern Louisiana through an auction closing June 26.
Booming oil and gas production, particularly from the Permian Basin, has made the industry reliant on foreign markets to continue its growth.
Nine Point Energy says the financing will support continued growth of development in the Williston Basin, where the company holds roughly 53,000 net acres.
Companies added one oil rig in the week to June 21, bringing the total count to 789, Baker Hughes, a GE company, said in its weekly report.
There’s lots of oil out there, but the industry needs to improve recovery rates to gain the full benefit.
