Carrizo Oil & Gas Inc has agreed to acquire oil and gas properties located in Delaware Basin in the Reeves and Ward counties, Texas, US, via its wholly owned subsidiary Carrizo (Permian) LLC from ExL Petroleum Management LLC and ExL Petroleum Operating Inc (together ExL).
The deal involves a purchase consideration of up to $773m, including a cash payment of $648m and contingent payment of up to $125m.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The properties include 70% average working interest across 23,656 gross acres of land comprising 11 gross producing horizontal wells, as well as seven wells that are currently in the process of drilling, completion, or flow-back. The wells currently produce approximately 8,000boed.
Carrizo Oil has appointed Citigroup Inc as financial advisor and Baker Botts LLP as legal advisor for the transaction.
The transaction will allow Carrizo Oil to expand its oil and gas asset portfolio in Delaware Basin, and is scheduled for completion in mid-August.
Beach Energy Limited has agreed to buy 10% participating interest in the Udacha block located in Cooper Basin, Australia, from Rawson Oil and Gas Limited for a purchase consideration of $0.38m.
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 block currently produces at an approximate rate of 1.6Mmscfd.
Beach Energy will own 100% stake in the block, upon completion of the transaction.
LINN Energy Inc and Citizen Energy II LLC have agreed to form a joint venture company named Roan Resources LLC.
Both parties will have equal ownership of the company and have contributed approximately 70,000 net acres each to the development, which are located in the Canadian, Carter, Cleveland, Garvin, Grady, Kingfisher, McClain and Stephens counties in Oklahoma, US.
Roan Resources will accelerate the development of the prolific Merge / SCOOP / STACK play in the Anadarko Basin.
It will own a total of five rigs, while 58 gross wells are planned to be drilled in 2017. The assets also include more than 1,500 net drilling locations.
Jefferies LLC is the financial advisor to LINN, while Citigroup is the financial advisor to Citizen Energy for the transaction.
Latham & Watkins LLP and Thompson & Knight LLP are the legal advisors to LINN and Citizen Energy respectively.
The transaction is scheduled for completion by the end of the third quarter of this year.
Viva Energy REIT Limited has completed the acquisition of eight service stations in Australia for a purchase consideration of $67.52m.
The service stations are situated in Victoria, Queensland, New South Wales and the Northern Territory.
The transaction will allow Viva Energy to expand and diversify its existing assets portfolio in Australia.
Getty Realty Corp has agreed to pay $123m for the acquisition of fee simple interests in 49 convenience store and gasoline station properties from Empire Petroleum Partners LLC.
Financing for the purchase consideration will be provided by Getty Realty through funds available under its credit agreement.
The properties are spread across metropolitan markets in the states of Arizona, Colorado, Florida, Georgia, Louisiana, New Mexico and Texas.
The transaction also involves the provision of lease-back funding by Getty Realty to Empire Petroleum in order to facilitate its acquisition of properties from Circle K Stores Inc.
It will enable Getty Realty to continue its commitment to the convenience store industry and is scheduled for completion before the end of the third quarter of 2017.
