WPX Energy Inc., Tulsa, will exit the San Juan basin with an agreement to sell its Gallup oil play holdings for $700 million to an undisclosed buyer who will also assume the associated transportation commitments.WPX Energy Inc., Tulsa, will exit the San Juan basin with an agreement to sell its Gallup oil play holdings for […]

PetroQuest Energy has eliminated a $35.4 million undiscounted abandonment liability from future obligations by releasing certain oil and gas assets in the Gulf of Mexico to Northstar Offshore Ventures.   Source: News

Vine Oil & Gas and GEP Haynesville exchanged non-operated Haynesville basin working interests in the majority of Vine and GEP’s joint venture assets in Red River, DeSoto, and Sabine parishes in northwestern Louisiana.  Source: News

The US Bureau of Ocean Energy Management reported the award of 81 leases totaling nearly $110.9 million from all apparent high bids in the Gulf of Mexico region-wide Lease Sale 249 on Aug. 17, 2017. The leases were issued after BOEM completed the required evaluation to make sure the public received fair market value for […]

Newly formed Ridge Runner Resources LLC, Midland, Tex., plans to pursue partnerships with other exploration and production companies and acquire acreage positions across the Delaware basin with a line of equity financing of as much as $300 million from Warburg Pincus.  Source: News

IGP Methanol has let a contract to CB&I to provide front-end engineering design services for work related to construction of its proposed 7.2 million-tonne/year Gulf Coast Methanol Complex on a 140-acre parcel next to the Mississippi River near Myrtle Grove in Plaquemines Parish, La. Source: News

Light, sweet crude oil prices declined modestly Feb. 2 on the New York market as the US dollar strengthened. Oil trades are based in US dollars so a stronger dollar makes oil more expensive for buyers using other currencies. Source: News