ConocoPhillips acquires Niobrara acreage from Lario Oil & Gas

Looking for Niobrara acreage, ConocoPhillips (NYSE:COP) has entered into an agreement to acquire up to 46,000 net acres of leasehold from Lario Oil & Gas Co. in the Colorado counties of Arapahoe, Adams, Elbert and Douglas. Terms of the deal were not disclosed.

"ConocoPhillips is pleased to have this opportunity to participate in the emerging Niobrara exploration and development play," said Larry Archibald, senior vice president of Exploration  and Business Development at ConocoPhillips. "Building on the strong relationships developed by Lario, we look forward to working with all local stakeholders as a first step in demonstrating our commitment to act as a steward of this region’s natural resources.”

ConocoPhillips, who recently announced plans to spin-off into two separate public companies, will serve as operator of the leases and expects to begin exploration efforts as soon as possible with the acquisition of a 3D seismic survey and drilling of test wells.

“Lario Oil & Gas Company is pleased to make this significant transaction with an industry leader
such as ConocoPhillips,” said Mike O’Shaughnessy, president and CEO of Lario. “As demonstrated by ConocoPhillips’ safe and successful history of developing unconventional plays, the project will be operated with the greatest regard for the local residents and environment, and for the benefit of all parties concerned.”

Lario Oil & Gas Co. is a privately owned independent oil and gas company with interests and operations in the Permian Basin of West Texas and New Mexico, the Greater Green River Basin of Wyoming, the Williston Basin of Montana and North Dakota, the Denver Julesburg Basin, the Mid Continent Region (Oklahoma and Kansas), the Arkoma Basin (Eastern Oklahoma), South Texas, the Sacramento Basin of California, and internationally in the Canadian provinces of Alberta and Saskatchewan.

Related Articles

Energen sells natural gas utility to become a pure play in the E&P space

04/07/2014

Energen Corp. has signed a definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corp. (Alagasco), to The Laclede Group Inc.

Welch appointed EVP, CFO of JP Energy Partners

04/03/2014

JP Energy Partners LP has appointed Patrick Welch as the company’s executive vice president and CFO. Welch has been serving as the interim CFO for the company since November of last year.

Rosetta Resources increases borrowing base to $950 million

04/03/2014 Rosetta Resources Inc. reports the amendment of its senior revolving credit facility to increase its borrowing base. Effective April 2, the company's borrowing base increased from $800 million to $...

Crestwood Midstream expands Permian Delaware Basin project

04/02/2014 Crestwood Midstream Partners LP reports a further expansion of its Willow Lake Project in the Permian Delaware Basin, which includes the conversion of a portion of its Las Animas natural gas gather...

Bolton joins Energen Resources as VP-Land

04/02/2014

David Bolton has been elected by the Energen Corp. board of directors as vice president, Land, for the company’s oil and gas exploration and production unit, Energen Resources Corp.

More Oil & Gas Financial Articles

Energen sells natural gas utility to become a pure play in the E&P space

Mon, Apr 7, 2014

Energen Corp. has signed a definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corp. (Alagasco), to The Laclede Group Inc.

Welch appointed EVP, CFO of JP Energy Partners

Thu, Apr 3, 2014

JP Energy Partners LP has appointed Patrick Welch as the company’s executive vice president and CFO. Welch has been serving as the interim CFO for the company since November of last year.

Rosetta Resources increases borrowing base to $950 million

Thu, Apr 3, 2014

Rosetta Resources Inc. reports the amendment of its senior revolving credit facility to increase its borrowing base. Effective April 2, the company's borrowing base increased from $800 million to $950 million.

Crestwood Midstream expands Permian Delaware Basin project

Wed, Apr 2, 2014

Crestwood Midstream Partners LP reports a further expansion of its Willow Lake Project in the Permian Delaware Basin, which includes the conversion of a portion of its Las Animas natural gas gathering system into rich gas service and the construction of an initial cryogenic natural gas processing plant.

Bolton joins Energen Resources as VP-Land

Wed, Apr 2, 2014

David Bolton has been elected by the Energen Corp. board of directors as vice president, Land, for the company’s oil and gas exploration and production unit, Energen Resources Corp.

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ