Encana Corp. is making its way into the oil and natural gas-rich Permian region of Texas after it announced its plan to buy Athlon Energy, an online Calgary Herald report stated on September 29.
Encana plans to buy the Texas-based energy firm for a little less than $6 billion and to assume its debt worth more than $1 billion. With this deal, the company envisions producing 250,000 barrels of oil per production day by 2017, which is five times what it produced last year. The company also believes the acquired land provides the company with around 5,000 possible new drilling spots.
Selling your mineral rights to healthy and well-footed companies in the oil production sector is a guaranteed way to ensure that you get the best value out of your property. The professionals at The Mineral Auction can provide you a wide portfolio of businesses who can buy your rights when you call our office at (512) 698-2802 today.
The current oil and gas boom in Texas drove employment way up. The state’s job growth in these industries experienced a 10.7 increase from May 2013 to May 2014. General industrial employment grew for the third year in a row, increasing the employed to 1.2 million, the San Antonio Business Journal reported.
However, workers and manufacturers are not the only stakeholders benefiting from this flourishing industry. Mineral rights owners in Texas are also taking advantage of the growth. By getting in touch with the right oil and gas mineral rights buyer, a seller would be able to capitalize on his assets at a time when the value of mineral properties is high.
Selling your mineral rights at the height of the State’s growing energy industry would help you get the most out of your deal. Consult with our team at The Mineral Auction if you plan to sell your mineral rights for the highest value possible. Call us at (512) 698-2802 today to discuss your options.
An online report by Energy Global on Monday, June 23, revealed a multi-billion dollar acquisition has been concluded by Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of North American energy producer Encana.
Encana Oil & Gas (USA) Inc. recently sealed a $3.1 billion buyout of 45,000 net acres of the Eagle Ford Shale from mineral producer Freeport-McMoRan. The property, which is situated in the southern counties of Wilson, Karnes, and Atascosa in Texas, produced approximately 53,000 barrels of oil equivalent per day (boe/d) during the first quarter of this year.
Encana CEO Doug Suttles stated that with the property’s current production and drilling inventory, the company is positive in generating bigger cash flows and creating a wider portfolio of oil resources.
When it comes to shale gas exploration and production, Texas is indeed the ideal place to be. If you want to make the most out of this flourishing industry by selling your mineral rights, our team at The Mineral Auction is willing to guide you in finding the best value for your property. Call us at (512) 698-2802 to learn more about how we can help you.
A lawyer and Texas A&M assistant professor shared her knowledge about how to protect one’s surface property during mineral rights negotiations at the Grayson County courthouse on June 12, Fox Texoma reported.
In light of a burgeoning oil and gas industry in the state, the lawyer, assistant professor and extension specialist at Texas A&M Tiffany Dowell offered residents valuable tips to protect the surface estate during oil and gas leases. She advised landowners to ensure the inclusion of detailed rules on a lease to specify how the surface land should be used. If not, oil and gas companies can take advantage of the contract and not respect the land.
She further stated that consulting with an attorney before coming to an agreement with the oil company is a good way to protect landowners’ interests.
Whether you are trying to sell or lease your mineral rights, our team at The Mineral Auction is here to help you make an informed decision. To seek assistance, call us at (512) 698-2802 today.
Oil and gas service provider Paradigm Oil and Gas Inc. announced its acquisition of 50 new oil wells in Texas, thereby expanding their reach into oil and gas production, SYS-CON Media reported on June 2.
In a press statement, the company said more than 20 of the 50 newly acquired oil wells are already producing oil and yielding income. The purchases cover about 4,000 acres of land in the Houston and Dallas areas, obtained by acquiring the leases previously held by Bitter Creek Petroleum, Blackjack Services, and Magnum Oilfield Services.
Paradigm Oil and Gas CEO Vince Vellardita said that with its increased production capability, the company expects to earn a six-digit monthly revenue by the last quarter of this year.
Our highly resourceful and knowledgeable brokers at The Mineral Auction help mineral rights sellers in Texas take advantage of the state’s current energy boom and may also help you. Call us at (512) 698-2802 to learn more about how we may assist you in finding the right buyer.
