By November 20, 2018 0 Comments Read More →

QEP Resources Exits Haynesville In $735 Million Sale To Aethon Energy

QEP Resources Inc. (NYSE: QEP) said Nov. 19 it will exit the Haynesville Shale region in a divestiture set to finalize the company’s Permian pure-play strategy.

Aethon III, an affiliate of Dallas-based private investment firm Aethon Energy Management LLC, agreed to buy QEP’s Haynesville/Cotton Valley business in northwest Louisiana for $735 million. Aethon III is an investment vehicle formed to acquire onshore assets in North America in partnership with the Ontario Teachers’ Pension Plan and Redbird Capital Partners.

QEP’s Haynesville/Cotton Valley business covers about 49,700 net acres including 137 gross operated producing wells in Northwest Louisiana. Production during the third quarter averaged about 49,500 barrels of oil equivalent per day of production, 100% of which was dry gas. The company also owns and operates midstream infrastructure on a majority of its Haynesville assets.

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Posted in: LOGA News

About the Author:

The Louisiana Oil & Gas Association (known before 2006 as LIOGA) was organized in 1992 to represent the Independent and service sectors of the oil and gas industry in Louisiana; this representation includes exploration, production and oilfield services. Our primary goal is to provide our industry with a working environment that will enhance the industry. LOGA services its membership by creating incentives for Louisiana’s oil & gas industry, warding off tax increases, changing existing burdensome regulations, and educating the public and government of the importance of the oil and gas industry in the state of Louisiana.

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