American Energy to Buy $4.25 bln in U.S. Shale Assets

Posted by Joseph Keefe
Monday, June 09, 2014

Firm to buy assets in Texas for $2.5 bln; Ohio, West Virginia for $1.75 bln.

Aubrey McClendon's American Energy Partners LLP said it would acquire oil and gas assets in Texas, Ohio and West Virginia for $4.25 billion.

American Energy, started by McClendon after he was pushed out as chief executive of Chesapeake Energy Corp a year ago, said it would acquire about 63,000 net acres of production leases in Texas's Permian Basin from Enduring Resources LLC for $2.5 billion.

The properties in Southern Permian are expected to have net production of about 16,000 barrels of oil equivalent per day.

American Energy announced a separate deal to acquire about 27,000 net acres of production leases in Monroe County, Ohio, from East Resources Inc and an unnamed private company.

The company is also buying 48,000 net acres of production leases in West Virginia from East Resources and a private company.

The deals in Ohio and West Virginia are worth $1.75 billion.


Reporting by Anannya Pramanick

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

David Palacios is Director of Quality, Environment & Safety, SENER

The engineering and technology group SENER has brought together its Quality, Environment and Safety divisions into one unified Department. The move aims to reorganize

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised.

Rosneft says Exxon Still Continues to Work With it in Arctic

Russia's biggest oil producer Rosneft said on Saturday that Exxon Mobil was still continuing exploration drilling at their joint project in the Arctic Kara Sea.

Finance

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised.

Russia's Yamal LNG Project May Tap Wealth Fund in 2014

Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies.

ICC Conference Focuses on Platform to Settle Disputes

The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around

Energy

Significant Progress on Perth Wave Energy Project

Wave energy developer Carnegie Wave Energy Limited has provided an update on the recent progress of the Perth Wave Energy Project. Carnegie has made significant

Japan's Minister Says Energy Policy Without Nuclear Difficult

Japan would find it difficult to formulate an energy policy without nuclear power given its lack of energy resources and the high cost of utilities for companies and households,

Nigerian Oil Workers Call Off Strike After Talks with Government

Nigerian oil workers' unions have called off a four-day strike after reaching a deal with the government in a dispute over pensions, they said on Saturday. A

Mergers & Acquisitions

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Global Ship Lease to Acquire Containership

Global Ship Lease, Inc. hasĀ  announcedĀ  that it has agreed to acquire a 8,063 TEU containership from a leading container liner company for a purchase price of $55 million.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1652 sec (6 req/sec)