Southwestern Energy Company has entered an agreement to sell its Fayetteville shale exploration and production (E&P) assets and associated midstream properties in Arkansas, US, to Flywheel Energy for $1.865bn.
The assets include approximately 915,000 net acres, 4,033 producing wells and 3.7 trillion cubic feet (tcf) of proven reserves.
Flywheel Energy will also acquire $438m of future contractual liabilities, provided certain obligations are retained by Southwestern Energy.
In addition, Flywheel Energy will take over 2019 production of 225bcf-230bcf and associated midstream infrastructure.
Flywheel Energy is a private exploration and production company, while Southwestern Energy Company is an independent energy company. Both the companies are based in the US.
The funds raised from the divestment will be used by Southwestern Energy to reinvest into the company’s assets located in West Virginia.
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By GlobalDataHelios Investment Partners has signed a deal with China Harbour Engineering Company to develop a $350m liquefied natural gas (LNG) terminal at the Tema port in Ghana.
China Harbour Engineering Company will construct the marine facilities for the terminal, while Jiangnan Shipyard of China will build the floating regasification facility, as per the agreement.
Planned to be built in 18 months, Tema LNG terminal will be the first regasification terminal in the Sub-Saharan region. It will be transferred to the Ghana Government after 12 years of operation.
Tema LNG Terminal Company has entered an agreement with the Ghana Ports and Harbours Authority (GPHA) requesting the permit the development and operation of the facility within the Tema port.
China Harbour Engineering Company is an engineering contractor and a subsidiary of China Communications Construction Company, while Helios Investment Partners is a private equity and venture capital firm based in the UK.
Canadian Natural Resources (CNRL) has entered an agreement with Total to purchase the Joslyn oil sands project for C$225m ($172.4m).
The acquisition will involve a cash consideration including an initial fee of C$100m ($76.62m) and cash payments of C$25m ($19.15m) a year for the next five years.
The Joslyn project is located south of the Horizon oil sands mining and upgrading project in Alberta, Canada.
The acquisition is expected to strengthen CNRL’s portfolio of assets. It will also create lease-line development opportunities between the Horizon and Joslyn projects.
Based in France, Total is an integrated oil and gas company, while Canadian Natural Resources is involved in the production, development and marketing of hydrocarbons.
Petro-Victory Energy Corp has acquired production and working interests in four oil fields situated within three onshore basins in Brazil for $1.6m.
The assets comprise a 100% operating interest in the Andorinha and the Alto Alegre oil fields located in the Potiguar Basin, a 50% non-operating interest each in the Carapitanga and São João oil fields in the Sergipe-Alagoas Basin in the Barreirinhas Basin, respectively.
Based in the US, Petro-Victory Energy Corp is involved in the financing and development of petroleum and natural gas assets in Latin America.
