gulf

Fieldwood Energy Files Prepackaged Chapter 11 Cases and Announces Gulf of Mexico Acquisition

Fieldwood Energy LLC (together with its subsidiaries and certain affiliates, the “Company” or “Fieldwood”) announced today that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas as part of a “prepackaged” chapter 11 case. In connection with the filing, the Company entered into a Restructuring Support Agreement (“RSA”) with support from stakeholders

PetroQuest Energy Announces Sale of Gulf of Mexico Assets

PetroQuest Energy, Inc. (NYSE:PQ) today announced the sale of its Gulf of Mexico properties (the “Sold Assets”) on January 31, 2018, but effective as of December 1, 2017. As a result of the sale, the Company has eliminated an approximate $35.4 million undiscounted abandonment liability from its long-term obligations.  The Company received no proceeds from the sale of these properties and is required to contribute $3.75 million towards future abandonment

Successful Gulf of Mexico Lease Sale Yields $275 Million in High Bids on 913,542 Acres in Central Planning Area

U.S. Secretary of the Interior Ryan Zinke today announced that Lease Sale 247 for oil and gas parcels in the Gulf of Mexico garnered $274,797,434 in high bids for 163 tracts covering 913,542 acres in the Central Planning Area of the Outer Continental Shelf offshore Louisiana, Mississippi, and Alabama. A total of 28 offshore energy companies submitted 189 bids. The sum of all bids received totaled $315,303,884. “Today’s strong sale

Freeport-McMoRan Completes Sale of Deepwater Gulf of Mexico Properties

Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the previously announced sale of its Deepwater Gulf of Mexico (GOM) properties to Anadarko Petroleum Corporation (NYSE: APC) for $2.0 billion in cash, before closing adjustments. In connection with this transaction, FCX also settled a preferred stock obligation with its consolidated subsidiary, Plains Offshore Operations Inc., for $582 million. Under the terms of the agreement, FCX has the right to

Anadarko Closes Deepwater Gulf of Mexico Acquisition

Anadarko Petroleum Corporation (NYSE: APC) announced today it has closed the acquisition of Freeport-McMoRan Oil & Gas’s deepwater Gulf of Mexico assets. The transaction is effective Aug. 1, 2016. Anadarko also increased its oil-growth expectations and discussed plans to further accelerate its rig activity in the Delaware and DJ basins. In addition, the company provided an update on its deepwater drilling activities in the Gulf of Mexico, highlighted by successes

2016 Gulf Coast Land Institute- New Orleans, LA (webinar available) -  October 27-28, 2016

Location:  Palace Cafe 605 Canal St New Orleans, LA 70130-2307 Date:  October 27-28, 2016 Credits:  11.00 CEU                  1.00 CEU Ethics AAPL’s 2016 Gulf Coast Land Institute will be held this year in New Orleans, LA on October 27 – 28, 2016. This popular event consists of one-and-a-half days of excellent and topical presentations plus networking. CLE Approval: TBD Pricing for Live Attendance: Member: $275

Freeport-McMoRan Announces Agreement to Sell its Deepwater Gulf of Mexico Properties

Freeport-McMoRan Inc. (NYSE: FCX) announced today that its oil and gas subsidiary, Freeport-McMoRan Oil & Gas (FM O&G), has entered into a purchase and sale agreement with Anadarko Petroleum Corporation (NYSE: APC) for the sale of its Deepwater Gulf of Mexico (GOM) properties for total cash consideration of $2.0 billion and up to $150 million in contingent payments. The contingent payments would be received over time as Anadarko realizes future

Anadarko Announces $2 Billion Property Acquisition

Anadarko Petroleum Corporation (NYSE: APC) announced today it has entered into a definitive agreement to acquire the deepwater Gulf of Mexico assets of Freeport McMoRan Oil & Gas for $2.0 billion. The transaction, effective Aug. 1, 2016, is expected to close prior to year end. TRANSACTION HIGHLIGHTS Doubles Anadarko’s ownership in the Lucius development to approximately 49 percent Adds approximately 80,000 net barrels of oil equivalent (BOE) per day, more

2016 Texas Land Institute - Houston, TX (webinar available)

Location:  Petroleum Club Houston 1201 Louisiana St, 35th Floor Houston, TX 77002 Date:  September 26, 2016 Time:  8:00 AM – 5:00 PM Credits:  6.00 CEU  1.00 CEU Ethics Cost early registration: $250 for members, $375 for non-members; after 9/12 the price goes up $50. Cost early registration WEBINAR: $200 for members, $325 for non-members; after 9/12 the price goes up $50. Accreditation: 7 CPL/RPL/RL recertification credits, including 1 ethics credit