Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) announced today that it has entered into definitive agreements to acquire non-operated oil and natural gas assets in the SCOOP and STACK plays in central Oklahoma (the “Acquisitions”) from Red Sky Resources III, LLC, Red Sky Resources IV, LLC, and Coriolis Energy Partners I, LLC. The combined purchase price of the Acquisitions is $43.5 million in cash, subject to customary closing adjustments, with an effective date of November 1, 2023, and an expected closing date in mid-February during the Company’s third quarter of fiscal 2024. Evolution expects to fund the acquisition with cash on hand and borrowings from EPM’s revolving credit facility.
Berkshire Hathaway (BRKa.N) has acquired nearly 10.5 million shares of Occidental Petroleum (OXY.N) so far this week for about $588.7 million, according to a filing at the U.S. Securities and Exchange Commission on Wednesday.
Addressing Occidental Petroleum’s (OXY) purchase of CrownRock for US$12 billion, Robert Clarke, Vice President of Upstream Research at Wood Mackenzie said, “This transaction cements an absolute banner year in Permian acquisitions and divestments spend.
It should be an advance considered a breakthrough in computational chemistry research.
About 80 contractors in the oil and gas industry have received training to enhance their capacity and commitment in occupational safety to prevent injury