Continental Resources, Inc. today announced the sale of its eastern STACK water gathering and recycling system in Blaine County, Oklahoma for $85 million to Lagoon Water Solutions.
Along with the divestiture, Continental has entered into a long-term arrangement with Lagoon to provide water sourcing, gathering and disposal services for Continental's future development in the area.From shale to offshore: Rigzone article here.
Japan bets big on US shale boom: Bloomberg via Rigzone. Data points:
- Osaka Gas Co
- first purchase of a US shale gas driller by a Japanese company
- will acquire: Sabine Oil & Gs Corp, a unit of Sabine Oil & Gas Holdings
- price; $160 million
- 175,000 net acres; east Texas in the Haynesville and Cotton Valley formations
- about $900/acre
- Osaka's biggest purchase; surpassed its $532 million purchase back in 2008 -- APA GasNet Australia Investment Ltd
- "earnings fall flat" for 2Q19
- EPS: $1.40
- generated free cash flow of $1.7 billion
- seventh consecutive quarter of generating free cash flow
- raised CAPEX from $6.1 billion to $6.3 billion
- to add another rig in the Eagle Ford [a week ago, Z4 Research declared the Eagle Ford to be "in permanent decline" -- I guess that's why COP felt compelled to add another rig]
- more exploration and appraisal drilling in Alaska
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