Gulf Oil and Gas accountACCOUNT

Carrizo Oil & Gas to Sell its Marcellus Shale Assets

Source: www.gulfoilandgas.com 10/6/2017, Location: North America

Share |
Carrizo Oil & Gas, Inc. entered into an agreement to sell its assets in the Marcellus Shale to a subsidiary of Kalnin Ventures LLC for $84 million in cash, subject to customary closing terms and conditions. Additionally, Carrizo could receive contingent payments of up to $7.5 million in aggregate based on natural gas prices exceeding certain thresholds over the next three years. Net production from the assets averaged more than 40 MMcf/d of natural gas over the first nine months of 2017. The effective date of the transaction is April 1, 2017, and the transaction is currently expected to close by the end of November, 2017.

S.P. "Chip" Johnson, IV, Carrizo's President and CEO, commented, "With the announced sale of our Marcellus package, we have continued to execute on the divestiture program we outlined earlier this year. We expect to close the sale of both of our Appalachian packages during the fourth quarter and remain on track to reach our divestiture program goals. Our DJ Basin package is currently being marketed, and interest has been strong. We hope to be able to announce a sale of this asset later this quarter."

Shale Gas News in United States >>

United States >>  6/12/2018 - ASTM Internationalís committee on petroleum products, liquid fuels, and lubricants (D02) has created a new standard (soon to be released as D8185) tha...
United States >>  6/5/2018 - CGG has completed acquisition of its Chickasha 3D survey in Grady and Caddo Counties, Oklahoma. CGG has also purchased the rights to the Ft. Reno 3D s...

United States >>  5/30/2018 - Hanwha Q CELLS Korea Corporation (Hanwha Q CELLS Korea) announced that it will build a solar module manufacturing facility in the United States of Ame...
United States >>  5/30/2018 - Deep Down, Inc. (DPDW), a specialist in complex deepwater oil and gas distribution equipment and services, today announced that it has received an ord...

Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 |

More News

 

Oil & Gas Companies in United States >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.