Acquisitions and Divestitures (A&D)

Spartan Delta Corp. announces $1.7 billion Montney asset sale, distribution of proceeds to shareholders, creation of a new growth-oriented pure-play Montney oriented company and transition of Spartan Delta to a deep basin focused corporation

Spartan Delta Corp. announces $1.7 billion Montney asset sale, distribution of proceeds to shareholders, creation of a new growth-oriented pure-play Montney oriented company and transition of Spartan Delta to a deep basin focused corporation

Oil and Gas 360


Publishers Note: Spartan Delta Corp will be giving a presentation at 10:05 am Central Time on Tuesday, April 18, 2023 at EnerCom Dallas.  There is no cost to attend EnerCom Dallas and The Energy Venture Investment

Source: Oil Price

Warren Buffett boosts Occidental Petroleum stake yet again

Oil Price


Warren Buffett’s Berkshire Hathaway bought shares in Occidental Petroleum for the third time this month, boosting its stake in the company to 23.6 percent.

 

The investment firm paid $216 million for the shares, which it bought on …

Houston-based gas driller testing market for South Texas assets

Houston-based gas driller testing market for South Texas assets

World Oil


(Bloomberg) – Closely held gas driller Escondido Resources is working with financial advisers to test the market’s appetite for its assets in South Texas, according to people with knowledge of the situation.

Houston-based gas driller testing market for South Texas assets- oil and gas 360

The Mountain Capital-backed company is having …

Source: Reuters

Berkshire Hathaway boosts its stake in Occidental Petroleum to over 23%

Oil Price


Berkshire Hathaway, the investment vehicle of Warren Buffett, has bought another batch of shares in Occidental Petroleum, pushing its total stake to 23.1 percent.

 

Citing a regulatory filing, Reuters reported the investment company had bought 7.9 million …

Source: Reuters

Equinor buys Suncor Energy’s UK oil assets for $850 million

Oil Price


Equinor has signed a deal to buy for $850 million the UK assets of Canada’s Suncor Energy, including a stake in a massive producing oil field and an interest in one of the major planned developments in the …

Shell completes sell of interest in “big three” California oil producer to IKAV

Shell completes sell of interest in “big three” California oil producer to IKAV

World Oil


(WO) – Shell Offshore Inc., a subsidiary of Shell plc, has completed the previously announced sale of its 100% interest in Shell Onshore Ventures LLC which holds a 51.8% membership interest in Aera Energy LLC to IKAV.

Shell completes sell of interest in “big three” California oil producer to IKAV- oil and gas 360

The …

Baytex to acquire Eagle Ford operator Ranger Oil, accelerates shareholder returns and introduces a dividend with enhanced free cash flow

Baytex to acquire Eagle Ford operator Ranger Oil, accelerates shareholder returns and introduces a dividend with enhanced free cash flow

BOE Report


Calgary, Alberta – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”, the “Company” or “we”) today announced that it has entered into a definitive agreement (the “Agreement”) to acquire Ranger Oil Corporation (NASDAQ:

Source: World Oil

Quantum Energy, Bison partner to acquire and develop oil and natural gas assets in Denver basin

World Oil


(WO) – Quantum Energy Partners and the management of Bison Oil & Gas formed Bison Oil & Gas Partners IV, LLC (“Bison IV”) with equity capital commitments in excess of $500 million.

 

 

Building on the success …

Source: Reuters

Chemical giant enters U.S. shale with $1.4 billion acquisition

Oil Price


One of the world’s largest chemical makers, UK-based INEOS, has entered U.S. oil and gas production after agreeing to buy Eagle Ford assets from Chesapeake Energy for $1.4 billion, thus gaining access to cheaper natural gas.

 

The …

Growing oil and gas company acquires natural gas interests in Haynesville Shale

Growing oil and gas company acquires natural gas interests in Haynesville Shale

World Oil


(WO) – Verde Bio Holdings, Inc., a growing oil and gas company, has entered into an agreement to acquire revenue producing natural gas interests in the prolific Haynesville Shale of Northern Louisiana, held by a private seller for …

Source: Reuters

Chesapeake Energy Corporation announces sale of second Eagle Ford package for $1.4 billion

Oil and Gas 360


OKLAHOMA CITYFeb. 21, 2023 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ:CHK) today announced that it has executed an agreement to sell a portion of its remaining Eagle Ford asset to INEOS Energy for …

Vital Energy announces Midland Basin acquisition

Vital Energy announces Midland Basin acquisition

Oil and Gas 360


TULSA, OK, Feb. 14, 2023 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital” or the “Company”) today announced the signing of a definitive purchase and sale agreement to acquire the assets of Driftwood Energy Operating, …

Talos Energy completes acquisition of EnVen Energy Corporation

Talos Energy completes acquisition of EnVen Energy Corporation

Oil and Gas 360


HOUSTONFeb. 13, 2023 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) announced the completion of its previously announced acquisition of EnVen Energy Corporation (“EnVen”).

 

Talos Energy completes acquisition of EnVen Energy Corporation- oil and gas 360

 

The Company expects to provide …

Source: World Oil

New York company to drill new oil wells in Texas Panhandle

World Oil


(WO) – Joseph Sassoon Group (JSG), a New York-based investment management company, has secured the oil and gas interests across 23,958 acres of late oil tycoon T Boone Pickens’ Mesa Vista Ranch.

 

According to JSG, the company …

Matador Resources acquires Delaware basin assets for $1.6 billion

Matador Resources acquires Delaware basin assets for $1.6 billion

World Oil


(Bloomberg) – Consolidation in the Texas oil patch is gaining momentum this week after Matador Resources Co. agreed to acquire Advance Energy Partners Holdings LLC for about $1.6 billion in cash. This is the largest deal in Matador’s …

Source: Reuters

Chesapeake Energy Corporation announces sale of initial Eagle Ford package for $1.425 billion

Oil and Gas 360


OKLAHOMA CITYJan. 18, 2023 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ:CHK) today announced that it has entered into an agreement to sell the Brazos Valley region of its Eagle Ford asset to WildFire …

Tokyo Gas to purchase U.S. natural gas producer for $4.6 billion

Tokyo Gas to purchase U.S. natural gas producer for $4.6 billion

World Oil


(Bloomberg) — A Tokyo Gas Co. unit is in advanced talks to buy U.S. natural gas producer Rockcliff Energy in a deal worth about $4.6 billion, including debt, a person with knowledge of the matter said.

 

Tokyo Gas to purchase U.S. natural gas producer for $4.6 billion- oil and gas 360

 …

Source: World Oil

Marathon Oil completes Eagle Ford acquisition for $3 billion

World Oil


Marathon Oil Corporation completed its acquisition of the Eagle Ford assets of Ensign Natural Resources for a total cash consideration of $3 billion after considering closing adjustments. The acquisition was previously announced on Nov. 2.

The assets acquired …

ROK Resources announces strategic Southeast Saskatchewan asset acquisition

ROK Resources announces strategic Southeast Saskatchewan asset acquisition

BOE Report


REGINA, SK – ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK) (TSXV:ROK.WT) is pleased to announce that it has entered into an Asset Exchange Agreement (the “Acquisition“) to …

Source: Reuters

‘No sacred cows’ as TC Energy prepares for C$5 bln asset sales

US News


WINNIPEG, Manitoba – As TC Energy Corp prepares to unload C$5 billion ($3.7 billion) in assets next year, investors and analysts say the North American pipeline operator has plenty of options without touching its core gas business.

‘No sacred cows’ as TC Energy prepares for C$5 bln asset sales- oil and gas 360- oil and gas 360

Chief

Source: World Oil

Carlyle exploring multibillion-dollar offer for OMV oil and gas assets

World Oil


(Bloomberg) — Carlyle Group Inc. is exploring a multibillion-dollar bid for a large part of Austrian energy company OMV AG’s oil and gas portfolio, in what would be a bold move by a buyout firm to further expand …

Source: Reuters

UK says Baker Hughes-Altus deal may hurt competition in oil well services

Yahoo Finance


Britain’s competition watchdog said on Tuesday U.S.-listed oilfield services firm Baker Hughes Co’s acquisition of Altus Intervention could reduce competition among UK oil and gas operators.

 

The Competition and Markets Authority (CMA) said it was concerned that …

Source: Reuters

Buyout firm KKR looks to sell Canadian gas producer Westbrick Energy

BOE Report


Private equity firm KKR & Co is seeking buyers for Canadian oil and gas producer Westbrick Energy Ltd to cash in on high energy prices, in a potential deal valued at around C$1.5 billion to C$2.0 billion ($1.13 …

Source: Diamondback Energy

Diamondback Energy, Inc. announces northern Midland Basin acquisition

Oil and Gas 360


MIDLAND, Texas, Nov. 16, 2022 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has entered into a definitive purchase agreement to acquire all leasehold interest and related assets …

Source: Reuters

Exxon faces $2 bln loss on sale of troubled California oil properties

BOE Report


Exxon Mobil Corp will take up to a $2 billion loss on the highly leveraged sale of a troubled California offshore oil and gas field that have been idled since a 2015 pipeline spill

 

The sale comes …

Source: Reuters

BlackRock tells UK ‘no’ to halting investment in coal, oil and gas

Nasdaq


LONDON – BlackRock BLK.N, the world’s biggest asset manager, told a British parliamentary committee that it will not stop investing in coal, oil and gas, and that its role was not to “engineer a specific decarbonization outcome in …

Source: Reuters

Archaea Energy to be acquired by bp for approximately $4.1 billion

Oil and Gas 360


HOUSTON–(BUSINESS WIRE)– Archaea Energy Inc. (“Archaea”) (NYSE: LFG), an industry-leading renewable natural gas (“RNG”) company, today announced that it has agreed to be acquired by bp (NYSE: BP) for approximately $26 per Archaea Class A and …

Source: Reuters

Continental Resources announces definitive agreement to be acquired by the Hamm family

Oil and Gas 360


OKLAHOMA CITYOct. 17, 2022 /PRNewswire/ — Continental Resources, Inc. (NYSE: CLR) today announced that it has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Omega Acquisition, Inc., an …

Diamondback Energy, Inc. announces Midland Basin acquisition

Diamondback Energy, Inc. announces Midland Basin acquisition

Oil and Gas 360


MIDLAND, Texas, Oct. 11, 2022 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has entered into a definitive purchase agreement to acquire all leasehold interest and related assets …

NOG announces additional core Northern Delaware Basin bolt-on acquisition

NOG announces additional core Northern Delaware Basin bolt-on acquisition

Oil and Gas 360


MINNEAPOLIS–(BUSINESS WIRE)– Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the acquisition of Northern Delaware Basin properties.

 

NOG announces additional Core Northern Delaware Basin bolt-on acquisition- oil and gas 360

 

DELAWARE BASIN ACQUISITION

NOG has entered into a definitive agreement to acquire …