Looming mergers and acquisitions is a popular debate in the sub-$60 oil market, and Spain’s Repsol (ticker: REPYY) made the first splash with the US$13.0 billion acquisition of Talisman Energy (ticker: TLM) on December 16, 2014. The deal includes $8.3 billion in shares, acquired entirely through cash, and the assumption of TLM’s debt of $4.7 billion. The deal includes a
Chesapeake Energy Corporation (CHK) announced today that it closed on a new five-year, $4.0 billion senior unsecured revolving credit facility. The new facility replaces the existing $4.0 billion senior secured revolving credit facility that was scheduled to mature in December 2015. The aggregate commitments may be increased up to an additional $1.0 billion, and the new credit agreement matures December
Apache Corporation (ticker: APA) announced on December 15, 2014, that it has agreed to sell its interest in two liquefied natural gas (LNG) projects to Australian E&P Woodside Petroleum Ltd. (ticker: WPL). The deal includes the accompanying upstream oil and gas reserves, along with APA’s interest in the LNG projects. Woodside paid US$2.75 billion for a 13% interest in the
Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN): TOTAL COMPANY PRODUCTION Samson net production for 2014 is as follows: Q1 Q2 Q3 October November OIL, BO 29,408 50,553 35,576 6,016 17,619 GAS, MCF 48,518 50,928 46,710 12,086 9,363 BOE 37,494 59,041 43,361 8,030 19,180 BOEPD 416 656 481 260 639 The North Stockyard field saw an increase in
Encana Corporation (ticker: ECA) has announced a 2015 capital budget of $2.7 to $2.9 billion, with approximately 80% directed to four of its highest margin growth plays; the Montney and Duvernay in Canada, as well as the company’s Permian and Eagle Ford assets in Texas. Encana is one of the few E&Ps to increase its budget compared to 2014, when
Oil Price Volatility May Become Commonplace Already, another day has dawned bringing more volatility in oil prices. WTI is trading at about $55.25 following an early low of $53.60; and Brent, which had traded as low as $58.55 this morning, is trading at $59.50. What do the experts think? Late yesterday, CIBC World Markets’ Macro Strategy Research team sent out its research report entitled
