Quicksilver to Spin off Certain Barnett Shale Assets

Quicksilver Production Partners LP (QPP), a wholly-owned subsidiary of Quicksilver, has filed for an initial public offering (IPO) to raise upto $250 million. In connection with the IPO, Quicksilver will contribute certain of its Barnett Shale assets and related derivatives to QPP. JP Morgan and Credit Suisse are acting as lead book-running managers for the proposed offering. Continue reading here..

Majors willing to risk Iraqi contracts for Kurdistan riches?

Hussain Shahristani (Iraq’s Deputy Prime Minister for Energy) has warned Total would have to face “full consequences” if it signs oil deals with semi-autonomous Kurdistan (KRG). This warning follows Total’s statement which says that it is considering possible investments in Kurdistan. Continue reading here..

Viridas Acquired 23.7% Stake in Leed Petroleum

Viridas Plc acquired 23.7% stake in Leed Petroleum Plc from Old Church Street Holdings Limited and Lighthouse Investments Limited for £…0.47 million (US$0.73 million) on December 22, 2011. The offer price per share is £…0.0008 and the number of shares acquired by Viridas are 592.6 million. Viridas Plc also receive 166.6 million warrants to subscribe for new ordinary shares in Leed at a subscription price of 0.15 pence per share. Continue reading here..

Encana targets Tuscaloosa Shale play

The Tuscaloosa Marine shale play, which covers approximately 2.7 million acres across central Louisiana and southwest Mississippi, could emerge as the next big shale play. In west-central Louisiana, the target shale in this new play is referred to as the Louisiana Eagle Ford by some industry peers, who note that it is similar in age and lithology to the highly productive, liquids-rich Cretaceous-age Eagle Ford interval in Texas. Continue reading here..

White Deer Acquires 23% Stake in PostRock Energy for $7.5M

White Deer Energy LP has acquired 2,180,233 common shares (~23% stake) at $3.44/share of PostRock Energy Corp (PEC) for a total consideration of $7.5 million. Continue reading here..

Talisman Energy to Divest Shaunavon Asset

Talisman Energy Inc has initiated a process to divest its Shaunavon assets in southwest Saskatchewan and has retained FirstEnergy Capital Corp as its exclusive financial advisor. This package is a part of company’s 2012 divestiture program which was announced in Jan-2012. Continue reading here...

Shell has signed a definitive agreement to acquire 50% interest in Blocks 2-3, Albania from Petromanas Energy Inc in exchange for payments and carried costs up to $50.3 million. Petromanas will remain as the operator with 50% interest. Continue reading here..