Acquisitions and Divestitures (A&D)

Shell Collects its First $3.0 Billion from Asset Sale

Shell Collects its First $3.0 Billion from Asset Sale

Shell completes sale of North Sea blocks to Chrysaor

Shell (ticker: RDSA) has completed the sale of a package of UK North Sea assets to Chrysaor for a total of up to $3.8 billion, including an initial consideration of $3.0 …

Armstrong Energy Sells Alaska Interests

Armstrong Energy Sells Alaska Interests

Current sale involves half of interests, can be expanded to all

Denver-based private E&P Armstrong Energy is selling its interest in its Alaskan properties, where it made a massive discovery earlier this year—the largest conventional onshore discovery in 30 …

Rosehill Doubles Size with Delaware Acquisition

Rosehill Doubles Size with Delaware Acquisition

Rosehill secures 4,565 acres in Pecos County

Rosehill Resources (ticker: ROSE) announced a significant Delaware Basin acquisition today, doubling the size of the company in a single transaction.

Rosehill will buy 4,565 net acres in northwestern Pecos County, for a …

Bakken Deal Flow is Alive: $2.5 Billion in A&D in 2017

Bakken Deal Flow is Alive: $2.5 Billion in A&D in 2017

As far as companies buying and selling acreage and assets in the Williston basin, nearly $2.5 billion has changed hands in the Bakken this year. There are two more months of 2017, but already deal flow in the region is …

Hess Announces $2.6 Billion Offshore Asset Sales

Hess Announces $2.6 Billion Offshore Asset Sales

Equatorial Guinea, Norway blocks depart Hess

Despite the current focus on onshore operations, offshore A&D activity is not dead. Hess (ticker: HES) recently announced two major offshore sales, totaling over $2.6 billion.

The first transaction, announced Monday, involves Hess interest …

LINN Energy Sells Bakken Properties

LINN Energy Sells Bakken Properties

8 MBOEPD for $285 million

LINN Energy (ticker: LNGG) continues to concentrate its operations, announcing the sale of its Williston Basin properties today. The buyer was not disclosed.

LINN is selling about 20,000 net acres in North Dakota, South Dakota …

Cenovus Inks CAD $1.3 Billion Deal to Sell Palliser Assets to Schlumberger, Torxen

Cenovus Inks CAD $1.3 Billion Deal to Sell Palliser Assets to Schlumberger, Torxen

Current production of 54,000 BOEPD – SLB, Torxen plan 1,600 well program starting in 2018

Cenovus Energy Inc. (ticker: CVE) said it will sell its Palliser crude oil and natural gas assets in southeastern Alberta to privately held Torxen Energy …

Exxon Buys its First Crude Oil Terminal in the Permian 

Exxon Buys its First Crude Oil Terminal in the Permian 

Terminal is anchored by Exxon Permian assets acquired in January

 

Exxon Mobil Corporation (ticker: XOM) acquired a crude oil terminal in Wink, Texas from Genesis Energy LP to handle Permian basin crude oil and condensate for transport to Gulf …

Lilis Adds Permian Acreage: What a Deal

Lilis Adds Permian Acreage: What a Deal

Acquires 4,000 net Delaware basin acres from private seller at rock-bottom prices

Despite a recent leveling off of drilling activity in the U.S., money continues to pour into the Permian basin.

Last week Lilis Energy (ticker: LLEX) announced that it …

Kalnin Ventures Adds Marcellus Acreage

Kalnin Ventures Adds Marcellus Acreage

Carrizo, Reliance sell their JV

Kalnin Ventures continues to grow in the Marcellus, announcing a pair of deals today for a combined $210 million.

The first deal involves the purchase of much of Carrizo’s (ticker: CRZO) Marcellus Shale assets. According …

LINN Energy Sells Washakie Properties for $200 Million, Increases Share Buyback to $400 Million

LINN Energy Sells Washakie Properties for $200 Million, Increases Share Buyback to $400 Million

LINN Energy, Inc. (ticker: LNGG) entered an agreement to sell its interest in properties located in Wyoming to an undisclosed buyer for a contract price of $200 million, the company said in a press release.

The properties to be sold …

Matador Resources Prices $210 Million Common Stock Offering; Cash Will Expand Delaware Basin Ops

Matador Resources Prices $210 Million Common Stock Offering; Cash Will Expand Delaware Basin Ops

Matador Resources Company (ticker: MTDR) priced an underwritten public offering of 8,000,000 shares of its common stock. The total estimated gross proceeds of the offering, before estimated offering fees and expenses, are approximately $210.8 million. The offering is expected to …

Penn Virginia Closes $205 Million Acquisition with Devon, Increases Borrowing Base

Penn Virginia Closes $205 Million Acquisition with Devon, Increases Borrowing Base

Penn Virginia Eagle Ford acquisition puts drill bit on contiguous acreage for extended reach laterals

Penn Virginia Corporation (ticker: PVAC) closed its previously announced acquisition of Eagle Ford assets located primarily in Lavaca County, Texas on September 29, 2017. Penn …

Laredo Sells Medallion Midstream Pipeline

Laredo Sells Medallion Midstream Pipeline

Private Global Infrastructure Partners will acquire major Midland pipe system

Laredo Petroleum (ticker: LPI) announced today the sale of its interest in the Medallion Midstream pipeline system.

Privately-held Global Infrastructure Partners will pay $1.825 billion in cash for total ownership …

Halcon Completes Shift to Delaware, Puts Williston in the Rearview Mirror

Halcon Completes Shift to Delaware, Puts Williston in the Rearview Mirror

Final 2,280 BOEPD sold for $110 million

Halcon Resources (ticker: HK) announced the sale of its non-operated Williston basin assets today, completing its shift to a pure-play Delaware operator.

Halcon currently holds interests in several non-operated Williston basin properties that …

Sabinal Energy Jumps into Permian

Sabinal Energy Jumps into Permian

Sabinal gets 66,500 acres in northern Permian from Chevron

Privately-held Sabinal Energy announced its first acquisition on Tuesday, diving into the Permian Basin.

Sabinal will purchase about 66,5000 net acres in the Central Basin Platform and the Northern Shelf from …

Tellurian is sharply cutting the equity buy-in for potential partners in a bid to make its business model to finance construction of its proposed Driftwood LNG export terminal more attractive.

Future LNG Exporter Tellurian Acquires 1.3 Tcf of NatGas Resource Potential

Will buy 9,200 acres in the Haynesville for $85.1 million

Tellurian Inc. (ticker: TELL) announced an acquisition in the Haynesville, bringing a convenient source of natural gas production to the LNG exporter that is in the permitting and planning phases …

Canadian Natural Resources Raises $527 Million with Cold Lake Pipeline Sale

Canadian Natural Resources Buys Assets from Cenovus for $975 Million

Canadian Natural Resources Limited (ticker: CNQ) has entered into an agreement to acquire heavy oil assets in the Greater Pelican Lake region and other miscellaneous assets in northern Alberta from Cenovus Energy Inc. (ticker: CVE), for gross cash consideration of …

5 EnerCom Presenters Report Q2

5 EnerCom Presenters Report Q2

Oil & Gas Conference® presenters Lonestar, Resolute, Carrizo, Black Stone, Denbury report a busy quarter

Lonestar Resources

During its second quarter, Lonestar Resources (ticker: LONE) indicated that its production had risen by 7% above Q1 volumes. The company averaged …

QEP Resources Adds $732 Million of New Permian Acreage

QEP Resources Adds $732 Million of New Permian Acreage

EnerCom conference presenter QEP adds 730 potential Hz drilling locations in the new acreage

QEP Resources (ticker: QEP) followed its southwestern Wyoming Pinedale anticline divestiture with an acquisition of more acreage in the Permian.

QEP said its subsidiary company, QEP …

QEP Sells Pinedale Assets for $777.5 Million

QEP Sells Pinedale Assets for $777.5 Million

980 Bcfe of reserves sold in two deals

QEP Resources (ticker: QEP) announced today two agreements to sell natural gas assets in Wyoming for a total of $777.5 million.

Pinedale Energy Partners, an affiliate of Oak Ridge Natural Resources will …

Shell Exits Upstream Ireland with $1.23 Billion Sale

Shell Exits Upstream Ireland with $1.23 Billion Sale

Vermilion Energy will become operator when transaction closes

Shell (ticker: RDS.A) announced today the sale of its share of the Corrib gas venture, marking its exit from the upstream business in Ireland. Including conditional payments, the transaction is valued at …

Manitok Energy, Questfire Energy Combine to Create New 10,000 BOEPD Producer

Manitok Energy, Questfire Energy Combine to Create New 10,000 BOEPD Producer

Manitok Energy Inc. (ticker: MEI) announced on July 7th, 2017 that it would undergo a strategic combination with Calgary’s Questfire Energy Corp to establish a new intermediate energy producer. In the combination, Manitok has agreed to acquire all …

Apache Makes its Exit from Canada

Apache Makes its Exit from Canada

Apache Corporation (APA) will finish exiting its Canada operations following the closing of a sale of three sets of assets. The sale was comprised of a slate of properties in Alberta and British Columbia to Paramount Resources (ticker: POU); the …

ConocoPhillips Sells its Barnett Stake for $305 Million

ConocoPhillips Sells its Barnett Stake for $305 Million

Barnett Assets produced 5 MBOEPD in 2016

ConocoPhillips (ticker: COP) announced today the sale of all of its interests in the Barnett to Miller Thomson & Partners.

ConocoPhillips reports that 2016 production from the assets that will be sold was …

Carrizo Grabs 23,700 Delaware Basin Acres

Carrizo Grabs 23,700 Delaware Basin Acres

$648 million pushes Carrizo’s Delaware acreage to 42,600 acres

Carrizo Oil & Gas (ticker: CRZO) announced the acquisition of Delaware Basin acreage, the latest in a series of Permian transactions.

Carrizo will acquire 23,656 gross (16,488 net) acres in Reeves …

A rig site in North Dakota

Oxy Shuffles Permian Properties in $1.2 Billion Deals

13,000 non-core acres sold for $600 million

Occidental Petroleum (ticker: OXY) announced a series of transactions in the Permian with a total value of $1.2 billion. These transactions are a series of purchases and sales that in total require no …

Encana Sells Piceance Basin Assets for $735 Million

Encana Sells Piceance Basin Assets for $735 Million

Divestiture allows Denver-based Caerus to grow its Piceance footprint

Encana announced the sale of its Piceance basin assets today, in a deal with private operator Caerus Oil and Gas.

In total, Caerus will pay Encana $735 million in cash for …

Canadian Natural Resources Raises $527 Million with Cold Lake Pipeline Sale

Canadian Natural Resources Pays Shell, Marathon $8.24 Billion

 CNQ finalizes acquisition of 70% of Athabasca Oil Sands Project

Canadian Natural Resources Limited (ticker: CNQ) announced today that it has completed the acquisition of 70% of the Athabasca Oil Sands Project.

The remaining 30% of the working interest is …

No Slowing the Permian Land Grab: Centennial Resource Development Enters the Northern Delaware

No Slowing the Permian Land Grab: Centennial Resource Development Enters the Northern Delaware

Raising our 2020 oil production target to 60,000 BOPD: Centennial CEO Mark Papa

Denver’s Centennial Resource Development, Inc. (ticker: CDEV) said on Monday it is acquiring undeveloped acreage and producing oil and gas properties in the core of the Northern …