Canadian Overseas Petroleum has announced an extension to the previously announced Purchase Agreement to acquire the United States assets of Cuda Energy.
Pipestone Energy Corp. successfully increased its Reserve Based Loan (“RBL” or “Credit Facility”) to $280 million, from $225 million previously. The Credit Facility upsize is driven by Pipestone’s efficient execution of its organic development program, resulting in a significant increase to its proved producing reserve value during 2021. The larger.
Seplat Plc.âs Earnings Bounced Back Strongly on Higher Oil Prices
eplat Petroleum Development Company (Ticker: SEPLAT) Plc.âs earnings bounced back strongly on higher oil prices as the global economy heals gradually following the pandemic, analysts maintain buy rating due to strong upside potential.
Profit margin had hit the bottom following the outbreak of coronavirus pandemic in the financial year 2020 when oil prices slide strongly due to lack of demand.
In its first quarter (Q1) of 2021, the indigenous oil exploration and production company saw its profit after tax payment expanded from loss position to profitability.
âWe like that the company grew PAT by over two-fold in the period under review, a development triggered by higher oil price-induced expansion in revenue , rising 6.8% quarter on quarterâ, Chapel Hill Denham said in a report.
Pipestone Energy Corp Announces it Has Successfully Renewed Its $225 Million Reserve Based Loan einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.
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EP Energy Announces Agreement to Divest of Southern Midland Basin Assets
December 11, 2020 GMT
EP Energy Corporation. (PRNewsFoto/EP Energy Corporation)
HOUSTON, Dec. 11, 2020 /PRNewswire/ EP Energy Corporation (“EP Energy” or the “Company”) announced today that it has entered into a Purchase and Sale Agreement with an undisclosed buyer to divest of EP Energy’s assets located in the Southern Midland Basin. The transaction is expected to close by the end of January 2021.
Pro forma for the divestiture, EP Energy will own approximately 410,000 gross (275,000 net) acres in Northeastern Utah and the Eagle Ford. Average daily net production for the third quarter 2020 pro-forma for the transaction was 48,400 barrels of oil equivalent per day and 31,600 barrels of oil per day. The Company intends to use the proceeds to reduce borrowings under its Reserve Based Loan facility. Pro forma