Apache acquired shelf assets from Devon Energy
Apache Corp. (NYSE:APA) announced today they're acquiring the shelf assets of Devon Energy (NYSE:DVN) in the Gulf of Mexico for $1.05 billion.
Shelf assets refers to gas and oil that is located in shallower waters. Apache said they're going to fund the acquisition, for the most part, with short-term obligations and cash.
Once the deal is closed, estimates are the properties will generate about 55 million cubic feet of gas on a daily basis, as well as 9,500 barrels of oil a day.
Net proven and probable reserves are estimated to be around 83 million of barrels of oil equivalent as of the end of 2009.
The deal is slated to be closed in June 2010.
Showing posts with label Gas Reserves. Show all posts
Showing posts with label Gas Reserves. Show all posts
Monday, April 12, 2010
Monday, April 5, 2010
Will Halliburton (NYSE: HAL), Baker Hughes (NYSE:BHI) Benefit from More Oil and Gas Exploration?
Halliburton and Baker Hughes
This is a no brainer of course, there is no doubt the decision to allow more drilling off the Coasts of the U.S. by Obama will be a big boost to exploration companies like Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI).
Oil drilling companies like Atwood Oceanics (NYSE:ATW) and Transocean (NYSE:RIG), and others like them, should benefit as oil and gas resources are discovered.
Assuming they were part of the action, other types of companies which would probably profit from it are Devon Energy (NYSE:DVN) and EOG Resources (NYSE:EOG).
Some are trying to say certain parts of the coastlines being released for drilling won't produce much in the way of oil and gas, but that's simply speculation and wishful thinking.
We have no idea how much may be out there, and until the exploration and drilling takes place, we won't have an answer.
These are of course long-term plays, but something to keep in mind as the exploration and drilling gets underway in the years ahead.
This is a no brainer of course, there is no doubt the decision to allow more drilling off the Coasts of the U.S. by Obama will be a big boost to exploration companies like Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI).
Oil drilling companies like Atwood Oceanics (NYSE:ATW) and Transocean (NYSE:RIG), and others like them, should benefit as oil and gas resources are discovered.
Assuming they were part of the action, other types of companies which would probably profit from it are Devon Energy (NYSE:DVN) and EOG Resources (NYSE:EOG).
Some are trying to say certain parts of the coastlines being released for drilling won't produce much in the way of oil and gas, but that's simply speculation and wishful thinking.
We have no idea how much may be out there, and until the exploration and drilling takes place, we won't have an answer.
These are of course long-term plays, but something to keep in mind as the exploration and drilling gets underway in the years ahead.
Thursday, March 18, 2010
Exxon Mobil (NYSE:XOM), Marathon Oil (NYSE:MRO) and Shale Gas in Europe
Shale Gas in Europe
Exxon Mobil (NYSE:XOM), Marathon Oil (NYSE: MRO) and Royal Dutch Shell (NYSE: RDS-A) are spreading throughout the European landscape in search of shale gas which could be the future of European energy needs, or at least a large part of it.
Shale gas has become huge in America, and energy companies are just starting to search Europe for natural gas found in the shale.
To show the potential in Europe, shale gas reserves, or unconventional gas reserves are estimated to stand at about 1,200 trillion cubic feet, about five times the proven reserves in Europe at this time.
Although this is an important bit of information to know for long-term investors in these companies, it will probably take somewhere near a decade to bring the natural gas to the market and generate revenue for the companies and region.
One small detail does remain, and that is the geology still must be proven before this can be a for sure thing. But if results are anywhere near that in America, it should be a great boon.
Shale Gas in Europe
Exxon Mobil (NYSE:XOM), Marathon Oil (NYSE: MRO) and Royal Dutch Shell (NYSE: RDS-A) are spreading throughout the European landscape in search of shale gas which could be the future of European energy needs, or at least a large part of it.
Shale gas has become huge in America, and energy companies are just starting to search Europe for natural gas found in the shale.
To show the potential in Europe, shale gas reserves, or unconventional gas reserves are estimated to stand at about 1,200 trillion cubic feet, about five times the proven reserves in Europe at this time.
Although this is an important bit of information to know for long-term investors in these companies, it will probably take somewhere near a decade to bring the natural gas to the market and generate revenue for the companies and region.
One small detail does remain, and that is the geology still must be proven before this can be a for sure thing. But if results are anywhere near that in America, it should be a great boon.
Shale Gas in Europe
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