that account for almost half of its oil and gas production for $510 million in cash to Houston-based ConocoPhillips. ; Conoco says the deal includes 140K net acres in … HOUSTON--(BUSINESS WIRE)--Aug 21, 2020--ConocoPhillips (NYSE: COP) today announced that it has completed the previously announced transaction to acquire additional Montney acreage in Canada from Kelt Exploration Ltd. Cash consideration for the transaction was approximately $390 million at current foreign exchange rates and is subject to customary post-closing adjustments. The deal assumed a cash consideration of around $390 million. ConocoPhillips (COP) expects the acquisition of liquid-rich Montney acreage in British Columbia, Canada, to close in third-quarter 2020. Moreover, the U.S. upstream energy major has agreed to assume around $30 million in financial obligations related to some of the infrastructure at the site. In 2019, ConocoPhillips received provincial government approval for a nonoperated 50 percent participating interest in the El Turbio Este exploration block in the Santa Cruz province of Argentina covering approximately 0.8 million gross acres. HOUSTON – ConocoPhillips (NYSE: COP) today announced it has signed a definitive agreement to acquire additional Montney acreage in Canada from Kelt Exploration Ltd. for cash consideration of approximately $375 million before customary adjustments, plus the assumption of approximately $30 million in financing obligations for associated partially owned infrastructure. conocophillips blueberry montney Uncategorized September 16, 2020 | 0 September 16, 2020 | 0 Commercial production from Surmont 1 began in 2007. The company announced this week it recently spent $120 million to acquire approximately 35,000 acres of additional lands located adjacent to its existing acreage. The acreage is adjacent to ConocoPhillips’ Montney assets. ConocoPhillips (NYSE: COP) today announced it has signed a definitive agreement to acquire additional Montney acreage in Canada from Kelt Exploration Ltd. for cash consideration of approximately $375 million before customary adjustments, plus the assumption of approximately $30 million in financing obligations for associated partially owned infrastructure. In July, ConocoPhillips agreed to buy land from Kelt Exploration Ltd. in Canada's Montney shale oil play, in a $375 million deal. ConocoPhillips expands Montney position with $375m deal Company's position to grow to 295,000 net acres in British Columbia 22 July 2020 22:03 GMT Updated 22 July 2020 22:07 GMT This role actively supervises the operation of the field wells and gathering systems under the direction of the Montney Field Operations Leader. Today’s top 12 Conocophillips jobs. Company Reports. ConocoPhillips will also assume certain financial obligations of up to $30 million related to associated partially owned infrastructure. The transaction follows an agreement signed by the company to acquire the liquids-rich Montney … Photo by LM Otero/AP Photo files CALGARY — Canada’s largely dormant merger and acquisitions segment this year perked up Wednesday with Kelt Exploration Ltd. selling a stake in its British Columbia assets for $510 million in cash to Houston-based ConocoPhillips. ConocoPhillips hit the lower Montney zone hard with high intensity completions in three of its wells at Blueberry, pumping up to 10 times the proppant tonnage and fluid volumes per well vs its competitors’ wells (figure 3). ConocoPhillips Canada is recruiting a Field Shift Lead to support our Montney Operations. Stock Information. ConocoPhillips' Montney acreage is located in the Blueberry region. that account for almost half of its oil and gas production for $510 million in cash to Houston-based ConocoPhillips. ConocoPhillips will also assume certain financial obligations of up to $30 million related to associated partially owned infrastructure. In a separate release, ConocoPhillips says the lands are adjacent to its existing assets and will increase its exposure to the core of the liquids-rich Montney resource. In a separate release, ConocoPhillips says the lands are adjacent to its existing assets and will increase its exposure to the core of the liquids-rich Montney resource. HOUSTON – ConocoPhillips (NYSE: COP) today announced it has signed a definitive agreement to acquire additional Montney acreage in Canada from Kelt Exploration Ltd. for cash consideration of approximately $375 million before customary adjustments, plus the assumption of approximately $30 million in financing obligations for associated partially owned infrastructure. Fox said the early wells are “performing according to our projections and plans.” He added that lessons learned from drilling and completing in the US are being imported northward to improve recovery factors in the Montney. Headquartered in Calgary, Albert ConocoPhillips Canada is recruiting a Field Shift Lead to support our Montney Operations. Exploration and appraisal activity on the Blueberry-Montney acreage began in 2009 and appraisal drilling continued in 2019. US oil major ConocoPhillips has signed a definitive agreement to buy land from oil and gas firm Kelt Exploration in Canada’s Montney shale oil play. ConocoPhillips will acquire 140,000 net acres in the liquids-rich Inga-Fireweed asset, located adjacent to its existing Montney lands, containing 1,000 high-quality well locations. HOUSTON--(BUSINESS WIRE)-- ConocoPhillips (NYSE: COP) today announced that it has completed the previously announced transaction to acquire additional Montney acreage in … In return, ConocoPhillips noted in a written statement that it will add 140,000 net acres in the liquids-rich Inga-Fireweed asset Montney zone directly adjacent to its existing Montney position. Vendor Invoice Status. This role actively supervises the operation of the field wells and gathering systems under the direction of the Montney Field Operations Leader. ConocoPhillips, an exploration and production company, has completed the acquisition of the Montney acreage from a Canadian oil and gas company, Kelt Exploration for about $390m. The company announced this week it recently spent $120 million to acquire approximately 35,000 acres of additional lands located adjacent to its existing acreage. University Recruitment. The company drilled a 13-well test pad in 2018 that is currently in progress. In July it agreed to buy land from Kelt Exploration Ltd in Canada's Montney shale oil play, in a $375 million deal. “It is not known whether ConocoPhillips is an outlier or a harbinger,” Chapman wrote. Kelt says its production will drop from about 30,800 barrels of oil equivalent to 16,500 boe/d when the transaction is completed. ConocoPhillips reported Wednesday that it has agreed to acquire acreage in the Montney formation in Western Canada from Kelt Exploration Ltd. Investor Presentations. ConocoPhillips’s current Montney development only ramped up this year with the operator’s first multiwell pad. ConocoPhillips Announces Agreement to Acquire Liquids-Rich Montney Acreage from Kelt Exploration Ltd. Stockhouse.com use cookies on this site. ... Montney COVID-19 Safety Plan. This deal The deal assumed a cash consideration of around $390 million. ConocoPhillips says it has increased its land position in the Montney play by 32 percent. At Blueberry Montney, located in a remote corner of northeastern British Columbia, Ramesh was part of an integrated team from ConocoPhillips that completed a water recycling and reuse pilot project – the first for the company in Canada. ConocoPhillips expands its Montney asset base. In April 2016, ConocoPhillips announced that funding was approved for additional wells and associated on-pad infrastructure to increase production at CD5. HOUSTON - ConocoPhillips (NYSE: COP) today announced that it has completed the previously announced transaction to acquire additional Montney acreage in Canada from Kelt Exploration Ltd.. Cash consideration for the transaction was approximately $390 million at current foreign exchange rates and is subject to customary post-closing adjustments. Leverage your professional network, and get hired. ConocoPhillips executive vice-president and chief operating officer Matt Fox said: “The liquids-rich Montney represents an attractive low cost of supply resource within our portfolio. In turn, these plants have delivered approximately 20 million barrels of recycled water in the past 20 months. ConocoPhillips COP recently agreed to acquire liquid-rich Montney acreage in British Columbia, Canada, from Kelt Exploration Ltd. for $375 million in cash.The acreage under consideration is adjacent to ConocoPhillips’ Montney assets. The deal assumed a cash consideration of around $390 million. Our world-class portfolio includes the Surmont oil sands project in the Athabasca region of northeastern Alberta and exciting opportunities in the liquids-rich Montney play in northeast British Columbia.
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