El Paso’s Eagle Ford Assets on the Market

El Paso Corporation and Kinder Morgan announced a $38 billion transaction where the later will acquire all of El Paso’s assets. The deal will create a pipeline and midstream company that is the 4th largest energy company in North America (Enterprise Value of >$90 Billion).

El Paso had plans to spin off its exploration and production business at the end of the year, but those plans are delayed until Kinder Morgan has full control of the assets. The company still plans to divest the E&P assets, but is more likely to sell individual assets instead of spinning off a new entity. That means there are Eagle Ford wells and acreage on the market. [Read more…]

Statoil – Talisman JV buys Enduring Resources Eagle Ford Acreage

Statoil agrees to 50/50 joint venture with Talisman Energy and moves to buy 97,000 acres from Enduring Resource’s for $1.325 billion (>$13,600 per acre). ┬áStatoil is expanding its US onshore operations outside of the Marcellus Shale and gaining exposure in the coveted Eagle Ford Shale. ┬áStatoil is also paying Talisman $180 million (~10,000 per acre) for a 50% interest in 37,000 acres currently held by Talisman. Talisman’s existing acreage was acquired through the acquisition of Common Resources’ acreage in early 2010 for $359 million (~$10,000 per acre). The partnership now holds 134,000 acres in the Eagle Ford Shale.

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