Denbury Resources has agreed to acquire 23% non-operated working interest in Salt Creek field located in Wyoming, US, from Linn Energy for $71.5m.
The Salt Creek field extends over an area of approximately 5,000 net acres of land. The net production from the field is estimated to be 2,100 barrels of oil equivalent a day (boed). The field holds net proven developed reserves of approximately nine million metric barrels of oil equivalent (mmboe).
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Linn Energy has appointed CIBC Griffis & Small and Jefferies as financial advisors, and Kirkland & Ellis as the legal advisor for the transaction.
Scheduled for completion in the second quarter of this year, the transaction will allow Denbury Resources to expand its oil and gas assets portfolio in Wyoming, US.
Cardinal Midstream III has secured a commitment from EnCap Flatrock Midstream for an equity investment of $250m.
Cardinal Midstream is engaged in the acquisition and development of midstream assets in both conventional and unconventional resource plays across North America.
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By GlobalDataThe investment enables the company to acquire midstream assets in North America.
Oil Search (PNG), a subsidiary of Oil Search, has agreed to acquire 30% stake in petroleum prospecting licenses (PPLs) 474, 475, 476, 477 and a production retention licence (PRL) 39 located in the Eastern Foldbelt of Papuan Gulf Basin, Papua New Guinea, from affiliates of Exxon Mobil Corporation (ExxonMobil).
The PPL 474 and 475 extend over an area of 1.1 million and 414,793 net acres respectively. PPL 476 covers an area of 955,320 net acres, while PPL 477 covers an area of 494,665 net acres. The PRL 39 extends over an area of 188,675 net acres.
The transaction will allow the company to expand its oil and gas assets portfolio in Papua New Guinea.
Armour Energy has completed the acquisition of the remaining 50% interest in ATP 647 located on the Roma Shelf, Surat Basin, Queensland, Australia, from QGC, a subsidiary of Royal Dutch Shell.
The deal enables Armour Energy to expand its oil and gas assets base in Surat Basin, Australia.
Lonestar Resources US has agreed to pay $116.6m for the acquisition of oil and gas properties located in Karnes, Gonzales, DeWitt, Lavaca and Fayette counties, Texas, US.
The purchase consideration will be funded by Lonestar Resources through a combination of cash and equity.
The properties include 70% working interest in the 21,238 net leasehold acres, and 115 net producing oil and gas wells.
The net estimated production from the properties was approximately 2,052boed during the first quarter of this year.
Lonestar Resources has appointed Intrepid Partners and Johnson Rice & Company as financial advisors, while Latham & Watkins is the company's legal advisor for the transaction.
Scheduled for completion later this month, the transaction will allow Lonestar Resources to expand its oil and gas assets portfolio in Texas, US.
