Abraxas Petroleum Corporation has reached an agreement with an undisclosed company to dispose Brooks Draw assets located in Converse County of the Powder River Basin in Wyoming, US.
The deal involves the sale of approximately 14,229 net acres for a consideration of approximately $11.3m.
Scheduled for completion on 15 December, the transaction will allow the company to reduce borrowings under its credit facility.
Sunoco Logistics Partners and Exxon Mobil Corporation have agreed to form a joint venture named Permian Express Partners.
The crude oil logistics network of the new joint venture will include Sunoco Logistics’ Permian Express Partners.
Under the terms, Sunoco Logistics will contribute its Permian Express 1, Permian Express 2 and Permian Longview and Louisiana Extension (PELA) pipelines, as well as ExxonMobil’s Longview to Louisiana and Pegasus pipelines, Hawkins gathering system in southern Oklahoma, and Patoka terminal in Illinois.
Sunoco Logistics and Exxon Mobil will hold 85% and 15% stakes in Permian Express Partners, respectively.
The transaction will enable the partners to improve their crude oil transport capabilities in the Permian Basin.
White Oak Energy, through its affiliate White Oak Resources VI, has announced plans to dispose operating and non-operating working interests in oil and gas assets in north Texas, US.
The deal includes the sale of working interests in 86 operated wells and 76 non-operated wells in Jack and Wise counties of the Fort Worth Basin.
White Oak Energy has retained EnergyNet.com for the divestment of the assets through a bidding process, due for closure on 16 November.
U.S. Silica Holdings has announced thepricing of nine million shares to raise $416.25m in a public offering. The underwriters have also been granted a 30-day option to buy up to 1.35 million shares.
Morgan Stanley & Co. and Barclays Capital are the joint book-running managers, while Kirkland & Ellis is the legal advisor to the company for the issue, scheduled for completion on 16 November.
The amount raised from the offering is intended to be used by the company for general corporate purposes.
VTX Energy has retained EnergyNet.com to dispose oil and gas assets located in White, Wabash, and Posey counties of Illinois Basin, Illinois, US.
The transaction includes the sale of 100% gross working interest in ten wells, which extend across an area of 1,150 gross leasehold acres.
The bidding process is scheduled for closure on 16 November.