Range Resources, through its subsidiary Range Resources HK, has agreed to acquire a 60% stake in PT Hengtai Weiye Oil and Gas for $3.2m. The purchase consideration will be funded by the company through its existing cash resources.
PT Hengtai Weiye Oil and Gas owns interest in Perlak Field, which is located in north-east Sumatran Basin, Indonesia, and extends over an area of approximately 10.4km². It has estimated oil in place of up to 500mmbbls.
Range Resources will hold 23% working interest in the Perlak Field upon completion of the transaction.
The acquisition will allow Range Resources to extend its oil and gas business to Indonesia.
American Midstream Partners has completed the acquisition of 33.3% stake in Main Pass Oil Gathering (MPOG) and 40% interest in American Panther (AmPan), located offshore the Gulf of Mexico, US, from Panther Asset Management.
The deal involves a purchase consideration of $52m, which was funded by American Midstream through a combination of cash and equity.
MPOG offers crude oil transportation services across the Main Pass, Viosca Knoll and Mississippi canyon areas located in the Gulf of Mexico. The company operates approximately 98 miles (157.7km) of large and mid-diameter pipelines tied to four offshore platforms.
AmPan provides crude oil and natural gas transportation services between the South Marsh Island area and an onshore station near Henry Hub in Vermilion Parish, Louisiana, US.
Midstream owns 100% interest in MPOG and AmPan, upon completion of the transaction. The acquisition allows American Midstream to fortify its midstream business in the Gulf of Mexico.
Petrodorado Energy has agreed to acquire Western Atlas Resources in a reverse take-over transaction.
The transaction involves the amalgamation of Western Atlas and Petrodorado’s wholly owned subsidiary 1128014 B.C. to form a combined company called Amalco.
Western Atlas’ former stakeholders will hold approximately 57.4% of the current issued and outstanding Petrodorado shares or approximately 50.7% on a partially diluted basis, upon completion of the transaction.
Petrodorado will exit from the oil and gas exploration operations and change its name to Western Atlas.
Goodnight Midstream has completed the acquisition of Wyatt Water Solutions.
The transaction was funded by Goodnight Midstream through its credit facility, operating cash flows, and equity investments from Tailwater Capital.
The acquisition allows Goodnight Midstream to extend its operations in the Eagle Ford shale, Permian and Williston basins.