Acquisitions and Divestitures (A&D)
National security review stalls sale of Shell U.S. refinery to Mexican state oil firm
HOUSTON – A national security review has delayed the sale of Royal Dutch Shell’s controlling interest in a Texas refinery to Mexico’s national oil company Petroleos Mexicanos (Pemex), Shell said on Tuesday.
Shell in May disclosed a sale of …
Paloma Partners to acquire Goodrich Petroleum Corporation for $23.00 per fully diluted share for a total of approximately $480 million, including assumption of the company’s first lien debt
HOUSTON, Nov. 22, 2021 /PRNewswire/ — Goodrich Petroleum Corporation (NYSE American: GDP) (“Goodrich” or the “Company”) today announced that it has entered into a definitive merger agreement pursuant to which a subsidiary
Southwestern Energy to acquire GEP Haynesville for $1.8 billion
SPRING, TX – Southwestern Energy Company announced that it has entered into a definitive agreement with the third largest private Haynesville producer – GEP Haynesville, LLC under which it will acquire GEP for approximately $1.85 billion.
The …
Chesapeake Energy Corporation completes acquisition of Vine Energy Inc.
KLAHOMA CITY, Nov. 1, 2021 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ:CHK) today announced it has completed its previously announced acquisition of Vine Energy Inc. (NYSE: VEI). The transaction was approved by Vine stockholders at a …
Phillips 66 to buy remaining stake in partnership for $3.4 billion
Phillips 66 said on Wednesday it will buy the remaining units of Phillips 66 Partners it does not already own for $3.4 billion, as the refiner aims to simplify its governance and corporate structure.
Phillips 66 Partners was formed …
Crestwood Equity to boost U.S. shale footprint with $1.8 bln deal
Oil and gas pipeline operator Crestwood Equity (NYSE:) Partners LP will buy Oasis Petroleum (NASDAQ:) Inc’s midstream unit in a $1.8 billion deal to expand its footprint in U.S. shale basins.
The cash-and-stock deal comes as oil and …
EXCLUSIVE U.S. slows down oil and gas mergers-sources
NEW YORK/WASHINGTON – U.S. antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden’s administration scrutinizes deals in a bid to tackle soaring …
Northern Oil and Gas, Inc. announces Williston Basin Bolt-on acquisition
- $154 million bolt-on acquisition of proved producing properties in the Williston Basin
- >4,500 Boe per day of production (2-stream, ~65%
Fundare Resources closes the acquisition of the Redtail Assets from Whiting Petroleum Company
Publisher’s Note: EnerCom worked with Fundare on logo development, branding and website design ahead of the closing the acquisition.
DENVER, Sept. 28, 2021 /PRNewswire/ — Fundare Resources Company, LLC (“Fundare”), a Denver based, independent exploration and production …
ConocoPhillips says Shell deal lowers emissions intensity
HOUSTON (Bloomberg) –ConocoPhillips’s $9.5 billion deal to buy shale assets from Royal Dutch Shell Plc will boost the amount of carbon the company pumps into the atmosphere. Yet the company says the pact will actually allow it to …
Shell exits Permian with $9.5 bln Texas shale sale to ConocoPhillips
Royal Dutch Shell said on Monday it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, an exit from the largest U.S. oilfield for the energy major shifting its focus to the clean energy …
Proxy advisor ISS recommends Cimarex shareholders vote for Cabot merger
NEW YORK – Influential proxy advisory firm Institutional Shareholder Services (ISS) has cautiously recommended that shareholders of Cimarex Energy Co XEC.N vote for its proposed merger with Cabot Oil & Gas Corp COG.N, according to a statement seen …
Chesapeake doubles down on Haynesville shale gas with Vine Energy buy
Chesapeake Energy Corp said on Wednesday it would buy Haynesville basin-focused rival Vine Energy Inc for $615 million, betting on the shale field’s proximity to the U.S. Gulf Coast export hub.
Dealmaking in the oil and gas sector has …
Petrobras says hires JPMorgan as adviser to sell Braskem stake
SAO PAULO – Brazilian state-run oil firm Petroleo Brasileiro SA PETR4.SA has hired JPMorgan Chase & Co JPM.N as adviser to sell its stake in petrochemical company Braskem SA BRKM5.SA, three sources familiar with the matter said.
Earlier …
Pioneer CEO stays on the sidelines of latest shale M&A round
HOUSTON –With more consolidation brewing in the largest U.S. oil patch, the boss of one of the largest independent shale producers says he’s not interested, and warned that investors are still skittish about deals.
“There’s no more reason …
Callon Petroleum’s Primexx acquisition sends its shares lower
HOUSTON (Bloomberg) –Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch.
The Houston-based oil explorer agreed to buy closely held Primexx Energy Partners Ltd. …
Razor Energy Corp. announces strategic light oil consolidation acquisition in Swan Hills, Alberta enhancing oil & gas, geothermal power, carbon capture, and hydrogen production opportunities
Publisher’s Note: FutEra Power will be presenting at EnerCom’s The Oil & Gas Conference on Tuesday, August 17, 2021 at 10:30am MST.
CALGARY, Alberta – Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased …
Analysis: Riding the oil price rebound: Gulf states to accelerate asset sales
DUBAI – Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy assets, capitalising on a rebound in crude …
Shell courts multiple suitors for its $10B Permian shale portfolio
(Bloomberg) –Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter …
Kinder Morgan to purchase renewable natural gas developer Kinetrex Energy
$310 million acquisition includes two small-scale, domestic LNG production and fuel…
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Brookfield sweetens offer for Canada’s Inter Pipeline to $6.85 billion
Brookfield Infrastructure Partners raised its hostile offer for Inter Pipeline Ltd for a second time to about C$8.58 billion ($6.85 billion) as it battles a rival bid from Pembina Pipeline Corp.
Pembina has made an all-stock bid of about …
Dominion Energy, Warren Buffett’s Berkshire Hathway Energy terminate Questar Pipeline sale
Dominion Energy and Warren Buffett’s Berkshire Hathaway Energy have agreed to terminate a planned sale of Questar Pipelines.
Dominion cited “ongoing uncertainty associated with achieving clearance from the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of …
Japanese oil producer eyes Canada divestment as M&A picks up
Japanese state-backed oil producer Japan Petroleum Exploration Co (Japex) is seeking a buyer for its 75% stake in the Hangingstone oil sands facility in Canada, two sources with direct knowledge of the matter told Reuters.
Several global oil majors …
Eni to buy Italian wind portfolio from Glennmont in green drive
MILAN – Eni ENI.MI has agreed to buy one of the largest onshore wind portfolios in Italy from fund manager Glennmont Partners as part of plans to expand its green energy business.
The Italian energy group will buy a …
Enverus acquires marginal unit to address power congestion, predictability and price impact
Austin, Texas (June 29, 2021) — Enverus, a leading global energy data and SaaS technology company, announced today that it has acquired Marginal Unit Inc., a power market analytics firm that helps users understand the …
Shell buys BP’s stake in North Sea field, scrapping previous deal
LONDON – Royal Dutch Shell RDSa.L said on Friday it had agreed to acquire BP’s BP.L 27.5% stake in the Shearwater North Sea gas field, raising its stake in the field to 55.5%.
Shell, which operates the Shearwater …
BHP divests oilfield stake in Gulf of Mexico for undisclosed sum
Miner BHP Group BHP.AX sold its 35% stake in Neptune field in Gulf of Mexico to EnVen Energy Corp ENVN.N for an undisclosed sum, making the independent oil and gas company one of the largest operators of a major …
Private equity firm Hellman & Friedman acquires majority stake in Enverus
April 13 – U.S. private equity firm Hellman & Friedman agreed to buy a majority stake in energy data and analytics provider Enverus from Genstar Capital, the companies said.
The deal values Enverus at $4.25 billion including debt, according …
