James McManus, Energen’s chairman and CEO, said proceeds from the sales exceeded the company’s expectations and strengthened its balance sheet. The company will now concentrate on drilling and developing its positions in the Midland and Delaware basins, where it estimates a remaining net resource potential of 2 Bboe. With the sale of its San Juan assets, Energen said it has completed its transition to a pure Permian Basin operator. That’s up about $75 million, or 20%, more at the midpoint of its previous guidance, said Jeffrey W. The company raised its 2016 capital spending to about $450 million. Most of the production sold is in the San Juan Basin, which is about 34% oil. Net oil production in April of 9 Mboe/d and.About 55,000 net acres in the Delaware Basin.The latest technologies, technical solutions and strategies in Exploration, Drilling, Production and more.Ĭonnecting upstream production to the downstream sector and putting midstream in the center of it all.Įnergen Corp.’s (NYSE: EGN) long slog to Permian pure player-a journey it began in 2009-is nearing the end with agreements to sell noncore assets in the Delaware and San Juan basins.Įnergen said it has closed or signed purchase and sale agreements with multiple undisclosed buyers for gross proceeds of $551.7 million. Meritorious Awards for Engineering Innovation (MEAs)Ī comprehensive source for coverage of the financial landscape of the oil and gas industry.Rextag database of energy infrastructure assets
Prices for top E&P stocks and commodities. Information on assets, buyers and sellers, deal values, and more.Ī searchable database of oil and gas debt and equity offerings.
0 kommentar(er)
