The Permanent Offer bidding program covers 600 exploratory blocks, of which 527 are located in onshore basins.
Bankruptcy filings by U.S. energy producers so far this year have already nearly matched the total for the whole of 2018, law firm Haynes & Boone reported on Aug. 14.
The financing was provided by Anvil Capital, a New York-based firm aiming to be an alternative capital solution for E&Ps in the current capital-constrained environment.
Foothills Resources retained EnergyNet for the sale of an operated package of Texas Gulf Coast assets through a sealed-bid offering closing Sept. 5.
Cascade Acquisition Partners retained EnergyNet for the sale of an 880-well package with assets located throughout Kansas through an auction closing Aug. 27.
Peri Petroleum retained EnergyNet for the sale of operated Austin Chalk assets across four East Texas counties through a sealed-bid offering closing Aug. 28.
The divestiture of the East Texas Pipeline follows a strategy set forth by Martin Midstream last year to delever the balance sheet and simplify its portfolio through noncore asset sales.
Anadarko Petroleum was the only corporate deal Occidental Petroleum considered since the company’s current leadership has been in place, says CFO Cedric Burgher.