Skip to main content
  1. Home
  2. Drilling & production
  3. 20 Jun 19
  4. Chisholm Oil and Gas and Gastar Exploration to merge

Chisholm Oil and Gas and Gastar Exploration to merge

Published by , Editor
Oilfield Technology,

Chisholm Oil and Gas, LLC (Chisholm) of Tulsa, Oklahoma, US, and Gastar Exploration LLC (Gastar) of Houston, Texas, US, have entered into definitive agreements to effect a merger between the two companies. The combined company, which will operate under the name Chisholm Oil and Gas and be headquartered in Tulsa, will have net production of approximately 20 000 boe/d and a combined acreage position of approximately 165 000 net acres, primarily in Kingfisher County, Oklahoma.

Chisholm is currently running three rigs and has a frac crew. The parties believe that the Gastar assets will be highly synergistic to their upstream operations as well as to Chisholm’s ownership stake in Great Salt Plains Midstream Holdings, LLC and its wholly-owned salt water disposal subsidiary, Cottonmouth SWD, LLC.

The transaction is expected to close in 3Q19, subject to satisfaction of customary closing conditions.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/20062019/chisholm-oil-and-gas-and-gastar-exploration-to-merge/

You might also like

 
 

Embed article link: (copy the HTML code below):

 

This article has been tagged under the following:

Upstream news Exploration news US upstream news Oil & gas news