Russia announced that they still intend to resume work on the final stretch of the Nord Stream 2 Gas Pipeline before year-end 2020, with just 120km of the 1,230km pipe remaining. No details were given on when or how they planned to get back to work on the line.
Contango Oil & Gas has reached a deal to purchase an oil & gas asset package in the Big Horn, Permian and Powder River Basin for $58 million, which includes 7.5 Mboe/d (>55% liquids) in production spread across 182,000 net acres. The assets have 18.3 MMboe in PDP reserves and are 100% held by production. The deal was made via a bank-owned liquidation of assets.
The acreage includes positions in the Elk Basin Field (Big Horn Basin) with 2 Mboe/d in production and the Permian Basin with 3.8 Mboe/d in production. Closing is planned for December 31, 2020.