A&D- Titan Energy enters restructuring agreement to sell Eagle Ford - June 2020Fort Worth-based Titan Energy entered a restructuring support agreement May 26 with key stakeholders for the sale of its Eagle Ford assets to an undisclosed buyer. The divestment, which would comprise substantially all of Titan’s assets, is expected to generate $8.5 million in net proceeds. Titan placed its operated Eagle Ford assets on the market in September, when it hired Intrepid Partners to assist in the sale of 10,162 net acres (10,855 gross) in the heart of the black oil window...
Jun 12, 2020
Williston buy crystallizes SPAC enthusiasmVantage Energy Acquisition Corp.’s $1.65 billion acquisition of QEP Resources’ Williston portfolio marks the fifth US upstream SPAC deal since the oil price downturn began in late 2014 and the third such deal of 2018. Notably, these blank-check companies have given some of the most highly regarded and proven industry executives a chance to build a company per their vision from the ground up. Vantage is no exception to this rule, as it is led by Roger Biemans, formerly president of...
Nov 21, 2018
Titan divests non-op Rangely interest for $105 millionTitan Energy LLC is selling its 25% non-op WI in the Rangely field in Colorado for $105 million to an undisclosed buyer. Q1 production from the Chevron-operated CO2 flood field was 2,486 bbl/d (90% oil, 10% liquids). The move follows the disposal of Titan’s Appalachian Basin assets to Diversified Gas & Oil in a $84.2 million deal announced last month. Both disposals support Titan’s debt reduction strategy and Eagle Ford focus, where it holds 10,500 net acres in Atascosa County,...
Jun 14, 2017
Diversified buys Marcellus assets for $84 million from TitanAppalachian pure-play Diversified Gas & Oil plc has entered into a conditional sale and purchase agreement with Titan Energy LLC to acquire Appalachian Basin assets for $84.2 million. The deal is expected to close in June, with an effective date of April 1, 2017.According to the seller, Diversified is getting 8,400 wells, 7,300 of which are producing, across Pennsylvania, Ohio, Tennessee, New York and West Virginia, along with associated infrastructure. As of 2016, the assets were...
May 23, 2017
Titan Energy puts Appalachian Basin portfolio up for saleFollowing its emergence from bankruptcy last September, Titan Energy plans to exit the Appalachian Basin and has hired Detring Energy Advisors to assist with the sale. The company formerly known as Atlas Resource Partners is offering a 100% HBP leasehold of 494,229 net acres (528,583 gross) across Ohio, Pennsylvania and five other Eastern states. There are 7,900 active wells (86% operated) on this acreage with net production of 45 MMcfe/d (95% gas, 95% operated) and a low annual decline rate of...
Feb 08, 2017
Atlas LP now restructuring $900MM into corp equitySeeking to extinguish about $900 million in debt from its balance sheet, Atlas Resource Partners filed for Chapter 11 protection in the US Bankruptcy Court for the Southern District of New York on July 27. The partnership entered court with a plan under which it would swap debt for equity—80% of senior bondholders have approved the deal—and existing unitholders would see their units canceled with no recovery. Under the terms of the agreement, two sets of bondholders would swap $668...
Jul 25, 2016
South Texas Quick News - July 22, 2016• There are 43 rigs, 33 oil and 10 gas, running in the South Texas region this issue, down from 115 YOY. • There are five rigs running in Webb County, down from 15 YOY. • Houston-based Annova LNG has filed its application seeking federal approval to take natural gas from the Eagle Ford Shale and export it from a proposed terminal in the Port of Brownsville. The company is asking for the agency to approve the application by March 30, 2018. • Atlas Resource Partners has...
Jul 22, 2016
Atlas Resource Partners sold it non-operated County Line CBM assets - March 4, 2016Atlas Resource Partners sold its non-operated County Line coalbed methane assets in Wyoming during Q4. Located in Johnson County, the County Line property covers 5,832 net acres. Atlas reported that County Line contributed just 1% of 1Q15 corporate production, which would peg output at around 2.7 MMcf/d. Coalbed methane continues to provide an important part of Atlas’ production mix from the Raton Basin assets on the New Mexico/Colorado border and from the Black Warrior Basin in Alabama....
Mar 04, 2016
Equity - November 17, 2015• Atlas Resource Partners announced Nov. 13 that it entered into a distribution agreement with MLV & Co. and FBR Capital Markets to sell up to $100 million of its Class D 8.625% and Class E cumulative redeemable perpetual preferred units from time to time in negotiated transactions or “at the market” transactions. The new agreement replaces one terminated a week earlier for the sale of units under the same conditions but just with MLV under which $98.8 million of the units went unsold....
Nov 17, 2015
A&D - What's On The Market Briefs - April 03, 2019In the Williston Basin, Crescent
Point Energy is marketing a package of
9,200 net undeveloped acres in Williams
County, North Dakota, including the Alamo
prospect. The company holds an average
operated 57% WI across the entire position
and an average 90% WI across two areas.
Leases will start expiring from next year
through 2022, with half of the acreage
having two-year extension options. The
assets include 10 drilling spacing units.
See PLS Listing No. L 1812DV. Titan Energy LLC...
Apr 03, 2019
Equity Briefs - January 27, 2016• Atlas Energy Group and its related partnership, Atlas Resource Partners, ,both announced they were notified by the NYSE that their respective equity issues had fallen below the exchange’s continued listing standards by closing below $1.00 on average for a consecutive 30-trading-dayperiod. The Atlas entities said they would submit acknowledgements to the NYSE within 10 business days from the receipt of the notices, which came on Jan. 7 for Atlas Energy Group and Jan. 12 for the LP, of their...
Jan 27, 2016
Equity Briefs - January 6, 2016• Atlas Energy Group said Dec. 30 that it had been notified by the NYSE that the company fell below the exchange’s continued listing standards for a $50 million market capitalization and total stockholders’ equity for a 30- day trading period. The Atlas LLC, which owns interests in the midstream MLP Atlas Resource Partners and Atlas Growth Partners, can submit a plan to regain compliance with the standards within 45 days of being notified. The NYSE can review whether conditions have been met...
Jan 06, 2016
People Briefs - December 15, 2015Atlas Energy Group and Atlas Resource Partners named Matthew Skelly investor relations VP. Skelly served in the same role for Atlas Pipeline Partners from 2010 until this year’s merger with Targa Resources. He previously worked in the bank and thrift sector at JP Morgan and on cross-border IR consulting and capital markets intelligence at Taylor Rafferty. He replaces Brian Begley, who has served as IR VP at Atlas Energy and its predecessors since 2006 and is now joining an investment management...
Dec 15, 2015
People & Companies Briefs - December 08, 2015Atlas Energy Group and Atlas Resource Partners named Matthew Skelly VP of investor relations, succeeding Brian Begley, who resigned. Skelly was VP of investor relations for Atlas Pipeline Partners from 2010 until its merger with Targa Resources earlier this year. Bakken Resources elected Solange Charas and Douglas A. Williams as independent directors as well as CFO Dan Anderson to fill vacancies on its board. Charas has more than 25 years of institutional experience and is currently CEO...
Dec 08, 2015
People & Companies Briefs - December 03, 2015Atlas Energy Group and Atlas Resource Partners named Matthew Skelly as investor relations VP. Skelly served in the same role for Atlas Pipeline Partners from 2010 until its merger with Targa Resources earlier this year. He previously worked in the bank and thrift sector at JP Morgan and on cross-border IR consulting and capital markets intelligence at Taylor Rafferty. He replaces Brian Begley, who has served as IR VP at Atlas Energy and its predecessors since 2006 and is now joining an...
Dec 03, 2015