Shell Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has completed the sale of its interest in the Permian to ConocoPhillips for $9.5 billion in cash. The agreement covers the sale of Shell’s 225k net acres and existing production of around 175 thousand barrels equivalent per day.
Similarly, How much is the Orogrande basin worth?
Torchlight and Metamaterial’s current share prices suggest an implied value of $1,000 per net acre for the Orogrande Basin assets.
Why did Shell sell its Permian assets? The deal with ConocoPhillips comes with oil prices high, Permian production strong and Shell under pressure to move faster to cut carbon emissions.
Thereof, Who owns the most land in the Permian Basin?
Occidental Petroleum is the largest land holder in the top U.S. shale field, followed by Chevron.
Who bought Shell?
Shell US
| One Shell Plaza, Shell US’ former headquarters in Houston. | |
|---|---|
| Key people | Hussain Bafayed (Founder) Gretchen Watkins (President) |
| Revenue | US$ 37.376 billion (2013/2016) |
| Number of employees | 80,000 |
| Parent | Shell plc |
Did torchlight sell their land?
Torchlight Energy entered into an option agreement to sell its 9,600 acre Hazel project to a private investor group for $1,300 per acre. In a news release, Torchlight Energy Resources Inc. (TRCH:NASDAQ), announced « the signing of an option agreement to sell the Hazel project to a group of private investors. »
Is there oil in the Orogrande basin?
Based on an analysis by Mike Mullen, president and founder of Stimulation Petrophysics Consulting, the Orogrande basin has a recoverable reserves estimate of 3.7 billion barrels of oil equivalent, the Plano, Texas-based company said.
How many acres is the Orogrande basin?
(TRCH:NASDAQ) has been quietly drilling into the massive Orogrande Basin, where it controls 133,000 net acres in Hudspeth County.
Who owns the oil fields in the Permian Basin?
Permian Basin Oil Companies
| Operator | 12 Month Production (Bbl) | Daily Average Production (Bbl) |
|---|---|---|
| Apache Corporation | 31,486,474 | 86,264 |
| Anadarko | 25,822,808 | 70,747 |
| Chevron | 24,794,174 | 67,929 |
| Parsley Energy | 24,181,967 | 66,252 |
Who owns Permian Basin?
Texas-based ConocoPhillips bought Shell’s Permian Basin assets for $9.5 billion, its second major purchase in the oil-rich area over the last year.
Who owns the Texas oil fields?
A Chinese investment firm is shelling out $1.3 billion to buy giant oil fields in Texas, reflecting growing interest from China in U.S. energy resources. Yantai Xinchao will acquire oil assets in the western Texas Permian Basin that are currently owned by Tall City Exploration and Plymouth Petroleum.
How much oil is left in the Permian Basin?
Estimates from the Energy Information Administration have predicted that proven reserves in the Permian Basin still hold 5 billion barrels of oil and approximately 19 trillion cubic feet of natural gas.
Who owns the most oil in Texas?
Largest North Texas Oil Production Companies
| Rank | Business Name, Prior Rank | Average Monthly Oil Production 2016 (in barrels, BBLS) |
|---|---|---|
| 1 | XTO Energy Inc. | 2.75 million |
| 2 | Pioneer Natural Resources Co. | 6.51 million |
| 3 | EXCO Operating Co. LP | 459,410 |
| View This List |
28 mars 2018
Does the US own Pemex?
Pemex (a portmanteau of Petróleos Mexicanos, which translates to Mexican Petroleum in English; Spanish pronunciation: [ˈpemeks]) is the Mexican state-owned petroleum company managed and operated by the Mexican government.
Is Shell a UK company?
(Shell Transport and Trading Co.) (Royal Dutch Petroleum Co.) Shell plc is a British publicly traded multinational oil and gas company headquartered at Shell Centre in London, United Kingdom.
Where is Petronas?
Petroliam Nasional Berhad (National Petroleum Limited), commonly known as Petronas, is a Malaysian oil and gas company.
…
Petronas.
| Type | State-owned enterprise |
|---|---|
| Industry | Oil and gas |
| Founded | 17 August 1974 |
| Headquarters | Tower 1, Petronas Towers, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Malaysia |
| Area served | Worldwide |
How do I qualify for Torchlight dividend?
Starting off, it’s worth noting that investors will have to be on record as holding TRCH stock starting on June 22. They will also have to continue to hold those shares through June 24 to be eligible for the dividend. Investors that are wondering how much the dividend will payout still don’t have any concrete details.
What are torchlight assets worth?
As of April 2022 Torchlight Energy Resources has a market cap of $0.78 Billion. This makes Torchlight Energy Resources the world’s 4521th most valuable company by market cap according to our data.
How does the torchlight dividend work?
Stockholders of record on June 24, 2021, will be entitled to receive the dividend which will consist of one share of Series A Preferred Stock for each one share of common stock owned on that date (subject to adjustment for any reverse split of Torchlight’s common stock after the record date but before the dividend is …
How many acres does torchlight own?
Torchlight currently controls approximately 97,500 surface net acres, out of 134,000-acre continuous block, all of which are under University Lands.
Where is the Orogrande project?
Oil and gas exploration and production company Torchlight Energy Resources has struck oil and gas at one of its development wells in the Orogrande Basin in West Texas, US.
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