BP Developments Australia (BP) has agreed to buy an 80% stake in WA-409-P exploration permit in the Carnarvon Basin, offshore Western Australia, from Cue Exploration.
Under the agreement, BP also has an option to acquire 42.5% equity in WA-359-P exploration permit.
The WA-409-P permit extends across an area of 565 gross acres of land and the work programme for the permit will be funded by BP.
Upon completion of the transaction, the WA-409-P permit will be owned by BP (80%) and Cue Exploration (20%).
Chevron Corporation plans to dispose its natural gas fields located in Bangladesh, for an estimated value of approximately $2 billion, according to sources.
The company operates Bibiyana, Jalalabad and Moulavi Bazar gas fields in Bangladesh. The fields produced 720 million cubic feet per day of natural gas and 3,000 barrels of oil per day of condensate in 2015.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe fields are currently operated under production sharing contracts (PSCs) with Ministry of Energy and Mineral Resources, and Bangladesh, Oil, Gas & Mineral Corporation.
Extraction Oil & Gas has announced pricing of its initial public offering (IPO) of shares. The company intends to raise $633 million through the issue of 33.3 million shares, at a price of $19 a unit. Underwriters to the offering have also been granted a 30-day option to buy up to five million shares.
The IPO is scheduled for completion on 17 October and the shares will be listed on NASDAQ under the ticker symbol 'XOG'.
The proceeds from the offering are intended to be used by Extraction to fully redeem some of the company’s convertible preferred securities, to repay borrowings under its revolving credit facility, and for general corporate purposes.
Luxe Energy has obtained commitment from NGP Natural Resources XI, for an equity investment of $524 million.
The investment allows the company to fund the acquisition of unconventional oil properties across the US.
Phillips 66 Partners (PSXP) has agreed to buy certain mid-stream assets in New Jersey, Montana, Texas and Oklahoma, US, from Phillips 66 Company.
The deal involves a purchase consideration of $1.3 billion, which will be funded by the company through a combination of debt and equity.
Scheduled for completion by the end of October, the transaction involves the sale of 30 assets, including crude pipelines, refined products, and natural gas liquids pipelines and terminals.
