In an announced joint venture with Spanish energy company Repsol YPF, SandRidge Energy Inc. (NYSE:SD) said it'll generate about $ billion in the oil acreage connected to the deal.
The Madrid, Spain-based Repsol subsidiary has agreed to acquire 25 percent interest in the Extension Mississippian play, and approximately a 16 percent interest in the Original Mississippian play.
Repsol's 25 percent interest is in about 250,000 net acres, and the 16 percent interest entails 113,636 net acres.
Sandridge will receive $250 million in cash and the remainder in the drilling carry, which includes completion and drilling costs.
Estimates by Sandridge are for the carry obligation to be completed within a period of three years.
The deal should close sometime in the first quarter.
Sandridge closed Thursday at $8.21, gaining $1.54, or 23.09 percent.
Showing posts with label Repsol. Show all posts
Showing posts with label Repsol. Show all posts
Friday, December 23, 2011
Monday, March 14, 2011
BHP (BHP) Gets Gulf Permit for Shenzi Well
BHP Billiton (NYSE:BHP) has received the second permit to resume drilling in the Gulf of Mexico since the oil spill from the BP (NYSE:BP) Macondo well. BP was a former partner in the well.
A BHP spokesman confirmed the announcement from the Bureau of Ocean Energy Management.
"We are very pleased to be resuming work," BHP spokesman Ruban Yogarajah said.
This follows the first permit issued since the accident, which was awarded to Noble Energy on February 28.
BHP is the operator of the well, with 44 percent ownership. Hess Corp and Repsol are partners, each with 28 percent ownership.
BHP closed Friday at $89.59, up $1.28, or 1.45 percent. Hess closed at $80.18, gaining $1.44, or 1.83 percent. BP was at $45.75, up $0.09, or 0.20 percent.
A BHP spokesman confirmed the announcement from the Bureau of Ocean Energy Management.
"We are very pleased to be resuming work," BHP spokesman Ruban Yogarajah said.
This follows the first permit issued since the accident, which was awarded to Noble Energy on February 28.
BHP is the operator of the well, with 44 percent ownership. Hess Corp and Repsol are partners, each with 28 percent ownership.
BHP closed Friday at $89.59, up $1.28, or 1.45 percent. Hess closed at $80.18, gaining $1.44, or 1.83 percent. BP was at $45.75, up $0.09, or 0.20 percent.
Friday, January 14, 2011
Marathon (NYSE:MRO), Repsol (NYSE:REP), Tesoro (NYSE:TSO), El Paso (NYSE:EP), Williams (NYSE:WMB) Finish Up on Strong Trading Day Thursday
The announcement by Marathon Oil (NYSE:MRO) that they were going to spin off their refining business helped pull up the overall industry, and others like Repsol (NYSE:REP), Tesoro (NYSE:TSO), El Paso (NYSE:EP) and Williams (NYSE:WMB) all finished Thursday positive.
Another early factor in Thursday energy trading was oil rising above $92 a barrel, but falling back later in the trading session, sending mixed signals, causing other companies to fall some, including Newfield Exploration (NYSE:NFX) and Murphy Oil (NYSE:MUR).
Marathon closed the day at $42.97, gaining $2.45, or 6.04 percent. Repsol ended the trading session at $29.89, gaining $2.00, or 7.17 percent. El Paso closed at $14.09, gaining $0.29, or 2.10 percent. Williams closed trading at $26.52, up $0.63, or 2.43 percent. Tesoro closed at $18.89, up $0.12, or 0.64 percent.
Another early factor in Thursday energy trading was oil rising above $92 a barrel, but falling back later in the trading session, sending mixed signals, causing other companies to fall some, including Newfield Exploration (NYSE:NFX) and Murphy Oil (NYSE:MUR).
Marathon closed the day at $42.97, gaining $2.45, or 6.04 percent. Repsol ended the trading session at $29.89, gaining $2.00, or 7.17 percent. El Paso closed at $14.09, gaining $0.29, or 2.10 percent. Williams closed trading at $26.52, up $0.63, or 2.43 percent. Tesoro closed at $18.89, up $0.12, or 0.64 percent.
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