Deals this week: Premier Oil, Double Eagle Development, BHP Billiton
Premier Oil plans to dispose of its 33.8% working interest in Wytch Farm oil field located in Dorset, UK, for $275m.
The field produced approximately 5,000boed, net to Premier Oil, in the first half of this year.
The proceeds from the sale are intended to be used by Premier Oil for the repayment of its debt.
Double Eagle Development and Apollo Global Management have formed a new joint venture (JV) named Double Eagle Energy Holdings III.
The JV is intended to acquire and develop oil and gas assets in the Permian Basin.
BHP Billiton plans to dispose its shale oil and gas assets located in Eagle Ford, Permian Basin, Haynesville / Bossier, and Fayetteville regions in Texas, US.
The assets extend over an area of more than 838,000 net acres.
Shot Hollow Partners has secured the commitment from Carnelian Energy Capital for an equity investment.
Shot Hollow is engaged in the acquisition, operation and development of upstream oil and gas assets in select onshore basins in North America.
The investment allows Carnelian Energy to expand its oil and gas investment portfolio.
Target Oil & Gas Drilling plans to dispose of its oil and gas assets located in Kern county in the San Joaquin Basin, California, US.
The transaction includes the transfer of 100% working interest in 30 wells and a 6.25% overriding royalty interest in the Atkinson 18 well. The six-month average eight / eighths production from the assets is estimated at 36 barrels a day.
Target Oil & Gas has appointed EnergyNet.com for the sale. The bid is scheduled for closure on 24 August.