Top Story | Deals - Acquisition, Mergers, Divestitures
ConocoPhillips Seals Deal for Kelt's Montney Assets
ConocoPhillips has completed its $390MM acquisition of additional Montney acreage in Canada from Kelt Exploration Ltd.
The purchase price was increased to $390 million from $375 million when the deal was first struck.
The company also assumed approximately $30 million in financing obligations for associated partially owned infrastructure. The company now has 295,000 net acres in the Montney with 100 percent working interest.
Conoco COO Matt Fox said: "The liquids-rich Montney represents an attractive low cost of supply resource within our portfolio. By nearly doubling our net acreage position, this acquisition provides us with the scale to optimize development in an area where we are already seeing encouraging early results."
Production associated with the acquired asset was approximately 15 MBOED in the second quarter of 2020.
Category | 2023 | 2024Est. Initial | Updated 2024 Guidance | %Difference (2023 vs 2024) |
Total Capital Expenditure($mm) |
Production Daily Equivalent(boe/d) |
Related Categories :
Deals - Deal Close
More Deals - Deal Close News
-
Ring Energy Finalizes Acquisition of Stronghold Energy II
-
Centennial, Colgate Finalize $3.9B Merger; Debut as Permian Resources Corp.
-
Diamondback Seals Rattler Midstream Deal; Takes Company Private
-
Riverbend Finalizes $1.8B Sale of Portfolio Companies
-
Northern Oil Closes $158MM Bolt-On Deal for Williston Assets
Canada News >>>
-
Large Permian E&P Cuts Capex;Outlines New D&C Plans, 2024
-
Petrus Resources Ltd. First Quarter 2023 Results
-
Cardinal Energy Ltd. First Quarter 2023 Results
-
Headwater Exploration Inc. First Quarter 2023 Results -
-
Rubellite Energy Inc. First Quarter 2023 Results