- Tight Gas & Oil
- Gas Hydrates
QEP Resources Inc. (QEP) looks to be a survivor amid the downturn, carefully conserving its cash but willing to make a deal on the order of $1 billion or more when the time is right.
Buying or selling for most E&Ps deals come down to less than ideal timing. Whiting Petroleum Corp. (WLL) still wants to cross off at least $800 million in assets, but the market hasn’t quite cooperated.
Parsley Energy Inc. (PE) is still waiting for a clear signal on whether to keep its Delaware Basin assets, which it has continued to add, or jettison them.
Ending the second quarter of 2015, QEP had $446 million in cash, another $150 million coming in from a tax clawback and an unsecured revolver through 2018 of $1.8 billion that won’t be affected by bank redeterminations – and also has zero balance.
RSP Permian said it has signed a letter of intent to buy about 4,000 net Midland acres from a company owned by RSP affiliates while simultaneously opening up millions of shares for purchase.
Denver’s Resolute, battling back debt, could gain $158- to $237 million from the sale of its acreage in the Gardendale area of West Texas, an analyst said.
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