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360 Articles

Source: Tallgrass Energy

Tallgrass Energy Receives ‘Take Private’ Proposal

By Tyler Losier, Energy Reporter, Oil & Gas 360 Tallgrass Energy receives preliminary proposal letter from Blackstone Infrastructure Partners offering to take the company private Tallgrass Energy LP (stock ticker: TGE), a midstream infrastructure company, received a non-binding preliminary proposal letter from Blackstone Infrastructure Partners (stock ticker: BX) on Tuesday, offering to acquire all of the outstanding Class A shares[Read More…]

Source: Data Gumbo

Verisk to Acquire Genscape

By Tyler Losier, Energy Reporter, Oil & Gas 360 Genscape will become a part of Verisk subsidiary Wood Mackenzie Verisk (stock ticker: VRSK), a data analytics provider headquartered in New Jersey, has signed a definitive agreement to acquire Genscape, a provider of real-time data for commodity markets, from Daily Mail and General Trust (DMGT) for $364 million in cash. As[Read More…]

Source: PDC Energy

PDC Energy to Acquire SRC Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360 PDC Energy to acquire SRC Energy in all-stock transaction valued at approximately $1.7 billion PDC Energy Inc. (stock ticker: PDCE), an independent E&P based out of Denver, has entered into a definitive agreement to acquire SRC Energy Inc. (stock ticker: SRCI), also located in Denver, in an all-stock transaction valued at[Read More…]

Source: Occidental Petroleum

Occidental Closes on Anadarko

By Tyler Losier, Energy Reporter, Oil & Gas 360 Occidental Petroleum completes its $55 billion takeover of Anadarko Petroleum Occidental Petroleum Corporation (stock ticker: OXY), led by President and CEO Vicki Hollub, has completed its acquisition of Anadarko Petroleum Corporation (stock ticker: APC) in a deal worth $55 billion, including the assumption of Anadarko’s debt. The closing of the transaction[Read More…]

Source: Amplify Energy

Shareholders of Amplify Energy and Midstates Petroleum Greenlight Merger

By Tyler Losier, Energy Reporter, Oil & Gas 360 Amplify Energy and Midstates Petroleum to merge after receiving shareholder approval Amplify Energy Corporation (stock ticker: AMPY), a Houston-based independent E&P, has received the necessary shareholder approval for its previously announced all-stock merger-of-equals transaction with Midstates Petroleum Company (stock ticker: MPO). Likewise, Midstates’ shareholders also signed off on the deal at[Read More…]

Japan’s Osaka Gas to Acquire Haynesville Shale-Focused American E&P

Japan’s Osaka Gas to Acquire Haynesville Shale-Focused American E&P

By Tyler Losier, Energy Reporter, Oil & Gas 360 Japanese company Osaka Gas to acquire Texas-based Sabine Oil & Gas Corporation Osaka Gas, a vertically integrated Japanese energy company, has entered into a definitive agreement with Houston-based Sabine Oil & Gas Holdings to acquire 100% of the outstanding shares of its subsidiary, Sabine Oil & Gas Corporation. Should the deal[Read More…]

Callon and Carrizo Merger: Conference Call Excerpts

Callon and Carrizo Merger: Conference Call Excerpts

Compiled by Bevo Beaven and Tyler Losier, Oil & Gas 360 In light of Callon and Carrizo’s $3.2 billion merger, the two companies held an investor conference call this morning. Below are notable excerpts, compiled from Bloomberg’s transcription of the call: Q: It sounds like the combination of the two companies, increases the free cash flow generation and the construction[Read More…]

Source: Callon Petroleum

Upstream Oil Merger: Callon Acquires Carrizo in $3.2 Billion Texas Combo

By Tyler Losier, Energy Reporter, Oil & Gas 360 Callon adds oil-weighted assets in the Permian and Eagle Ford through all-stock transaction Callon Petroleum Company (stock ticker: CPE), an independent E&P focused on unconventional assets in the Permian, has struck a deal with Houston-based Carrizo Oil & Gas (stock ticker: CRZO) to acquire the company in an all-stock transaction worth[Read More…]

Source: Lineal Industries

E&P Diversifies Through Merger

By Tyler Losier, Energy Reporter, Oil & Gas 360 Acquisition of Lineal Star completed in an all-stock transaction Camber Energy (stock ticker: CEI), an independent E&P with a new focus on adding midstream, downstream and field service activities, closed its previously announced acquisition of Lineal Star Holdings on Monday through an all-stock transaction by entry into an agreement and plan[Read More…]

Source: Archrock

Archrock Makes $410 Million Acquisition

By Tyler Losier, Energy Reporter, Oil & Gas 360 Archrock to purchase ~430,000 horsepower of compression from Elite Compression Services Houston-based Archrock, Inc. (stock ticker: AROC) has entered into a definitive agreement with Elite Compression Services, a JDH Capital-backed company, to purchase substantially all of Elite’s assets for $410 million, including approximately 430,000 horsepower of compression. Archrock will pay Elite[Read More…]

E&P Merger in the STACK

E&P Merger in the STACK

By Tyler Losier, Energy Reporter, Oil & Gas 360 Chisholm Oil and Gas to combine with Gastar Exploration Chisholm Oil and Gas LCC, backed by Apollo Global Management (stock ticker: APO), has entered into a definitive merger agreement with Gastar Exploration LLC, owned by private equity firm Ares Management Corporation (stock ticker: ARES).   Source: Gastar The combined company will[Read More…]

Equals to Merge

Equals to Merge

By Tyler Losier, Energy Reporter, Oil & Gas 360 Oilfield service consolidation rolls on C&J Energy Services (stock ticker: CJ) and Keane Group, Inc. (stock ticker: FRAC) have entered into a definitive agreement to combine in an all-stock merger of equals. Upon close, the merger will create a well completion and production services company with a presence in most active[Read More…]

Jerry Jones Gives his View of Haynesville’s Comstock Resources on Conference Call

Jerry Jones Gives his View of Haynesville’s Comstock Resources on Conference Call

By Bevo Beaven, Editor, Oil & Gas 360 The Haynesville Shale play drew a lot of attention early this week when Haynesville operator Comstock Resources (stock ticker: CRK) announced it was acquiring privately-held Covey Park Energy for $2.2 billion, making Comstock one of the major players in the Haynesville. But Comstock is no newcomer to the Haynesville.  The company has[Read More…]

Source: Comstock Resources

$2.2-Billion Haynesville Merger Creates New Basin Leader

By Tyler Losier, Energy Reporter, Oil & Gas 360 Comstock acquires Covey Park Energy for $2.2 billion Dallas Cowboys owner Jerry Jones and company made a deal to acquire a young, up-and-coming player last Friday, but the deal had nothing to do with football. Rather, it involved Haynesville producer Comstock Resources (stock ticker: CRK), of which Jones is a majority[Read More…]

Analysts Dive into Latest Haynesville Deal

Analysts Dive into Latest Haynesville Deal

The Jerry Jones effect: the Comstock-Covey Park acquisition Securities analysts had views about today’s announced acquisition of privately held Covey Park Energy by Comstock Resources (stock ticker: CRK) for $2.2 billion. Size matters (From: EnerCom Inc. Managing Director Aaron Vandeford) This deal checks a few important boxes for the market. Post-merger, Comstock will hold approximately 374,000 net acres, 5.4 Tcf[Read More…]

Roan Resources (stock ticker: ROAN), an independent oil and natural gas company based out of Oklahoma City,Merge, SCOOP and STACK producer Roan Resources, Inc. (stock ticker: ROAN) said it expects 2Q production to exceed 50 MBOEPD,- Oil & Gas 360

Roan Resources Exploring Strategic Alternatives

Citigroup and Jefferies enlisted to help determine strategy as to M&A, partnership options By Tyler Losier Roan Resources (stock ticker: ROAN), an independent oil and natural gas company based out of Oklahoma City, is enlisting the help of Citigroup Global Markets Inc. and Jefferies LLC to help explore strategic alternatives. Source: Roan Resources Over the last couple of months, Roan[Read More…]

Chevron Takes the Money and Runs

Chevron Takes the Money and Runs

$1 billion breakup fee makes easy payday for Chevron shareholders By Richard Rostad, analyst, Oil & Gas 360 Chevron (ticker: CVX) announced today it will concede to Occidental (ticker: OXY) in the bidding war for Anadarko (ticker: APC). While Chevron could theoretically outbid Oxy in its quest for Anadarko, Chairman and CEO Michael Wirth decided the price of doing so[Read More…]

Oxy-Anadarko Saga Accelerates

Oxy-Anadarko Saga Accelerates

“We remain perplexed at your apparent resistance to obtaining far more value for Anadarko shareholders” – Oxy CEO Hollub On earnings call, Hollub calls Anadarko “a generational opportunity” By Richard Rostad, analyst, Oil & Gas 360 Occidental Petroleum (stock ticker: OXY; $OXY) is going to great lengths to ensure it beats Chevron (ticker: CVX) in the bidding contest for Anadarko[Read More…]

Roan Resources (stock ticker: ROAN), an independent oil and natural gas company based out of Oklahoma City,Merge, SCOOP and STACK producer Roan Resources, Inc. (stock ticker: ROAN) said it expects 2Q production to exceed 50 MBOEPD,- Oil & Gas 360

More Oil and Gas M&A: Roan Resources Confirms Indications of Interest, In-Basin Consolidation Opportunities

Roan Resources forms transaction committee Roan Resources, Inc. (NYSE: ROAN) said it has received multiple unsolicited indications of interest to purchase the company. Roan reports it has an 150,000-acre position with an estimated resource potential of more than 2 billion Boe and multiple zones. Roan is focused on developing unconventional oil and natural gas reserves in the Merge, SCOOP and[Read More…]

April 29, 2019 - 5:33 pm 360 Articles, Closing Bell Story, Mergers & Acquisitions
Aftershocks from Chevron-Anadarko: Experts Discuss What’s Next for U.S. Oil Companies

Aftershocks from Chevron-Anadarko: Experts Discuss What’s Next for U.S. Oil Companies

ConocoPhillips, Oxy, Apache, Noble Energy are the cleanest comps in upstream energy – John Gerdes Permian pure-plays Pioneer, Concho and Diamondback have the assets but will be tougher deals to do while trading at a premium to their peers – Noah Barrett Pioneer, Concho, Diamondback and Endeavor: at the end of the day they are inclined to be merged into[Read More…]

Which Companies are Attractive Enough to be the Next Oil Patch M&A Targets?

Which Companies are Attractive Enough to be the Next Oil Patch M&A Targets?

Oxy was actively looking, others are likely considering acquisitions By Richard Rostad, analyst, Oil & Gas 360 The logical question after a major oil and gas M&A deal like Chevron’s (ticker: CVX) announced acquisition of Anadarko Petroleum (ticker: APC) last week is “who’s next?” This question is pertinent because media reports suggested that Occidental Petroleum (ticker: OXY) also made an[Read More…]

Chevron CEO Michael Wirth Talks about what Chevron is Getting with the Acquisition of Anadarko

Chevron CEO Michael Wirth Talks about what Chevron is Getting with the Acquisition of Anadarko

Chevron (stock ticker: CVX, $CVX) Chairman and CEO Michael Wirth went on the morning cable business shows and hosted a conference call today, saying his company’s acquisition of Anadarko Petroleum (stock ticker: APC, $APC) is “the highest return investment dollar that we can spend.” During his company’s conference call, Wirth responded to analyst questions about plunking down $33 billion in[Read More…]

Making History: Third-Largest U.S. Oil & Gas Transaction Wakes Up U.S. E&P

Making History: Third-Largest U.S. Oil & Gas Transaction Wakes Up U.S. E&P

Breaking down the numbers By Richard Rostad, analyst, Oil & Gas 360 Chevron (ticker: CVX) uprooted the eerily quiet U.S. exploration and production M&A landscape today when it announced it had agreed to acquire Anadarko Petroleum (ticker: APC). The total deal value is $50 billion, making it the third-largest U.S. oil and gas transaction in history, and the largest since[Read More…]

Denbury, Penn Virginia Call Off Marriage – Back to Square One

Denbury, Penn Virginia Call Off Marriage – Back to Square One

Market conditions, shareholder opposition cited Denbury Resources Inc. (NYSE: DNR) and Penn Virginia Corporation (NASDAQ: PVAC) agreed to terminate the previously announced Denbury acquisition of Penn Virginia. Chris Kendall, Denbury’s President and CEO, commented, “While we firmly believed in the strategic merits of the combination with Penn Virginia, the difficult market conditions since announcement, combined with the opposition of certain[Read More…]

March 22, 2019 - 12:54 pm 360 Articles, Closing Bell Story, Mergers & Acquisitions
Goodnight-Midstream-TPG-Capital-Acquires-Goodnight-Midstream-from-Tailwater-Capital-and-Private-Investors-Oil-Gas-360

$930-Million Water Acquisition: TPG Capital Acquires Goodnight Midstream from Tailwater Capital, Private Investors

Transaction provides Goodnight Midstream access to $300 million incremental capital to accelerate growth TPG Capital, the private equity platform of global alternative asset firm TPG, has signed a definitive agreement to acquire a majority stake in Goodnight Midstream, a leading midstream produced water infrastructure company, from Tailwater Capital for approximately $930 million. TPG is acquiring the company from Tailwater Capital[Read More…]

Resolute Stockholders Approve Merger with Cimarex

Resolute Stockholders Approve Merger with Cimarex

Target for transaction closing date is Mar. 1, 2019 Resolute Energy Corporation (NYSE: REN) stockholders have voted to approve the adoption of the merger agreement between Resolute and Cimarex Energy Co., Resolute said in a statement. Resolute reported that 15,950,431 shares voted in favor of the proposal to adopt the merger agreement.  This represents approximately 85% of the total shares[Read More…]

February 22, 2019 - 5:02 pm 360 Articles, Closing Bell Story, E&P, Mergers & Acquisitions
Source: QEP Resources

Elliott Targets Permian with $2 Billion Buyout Offer

QEP offer represents 44% premium American oil and gas is once again being rocked by an activist investor, as Elliott Management has submitted a bid to acquire QEP Resources (stock ticker: QEP). Elliott is proposing to acquire QEP for $8.75/share in cash, $2.07 billion in total. Elliott is already a major owner of QEP, with 4.94% of the company. This[Read More…]

After Recent Oil & Gas M&A, Now Water Makes a $900-Million Splash

After Recent Oil & Gas M&A, Now Water Makes a $900-Million Splash

Seven water M&A deals have occurred over past month While mega deals among E&P companies has dominated recent M&A headlines, water infrastructure is changing hands at a very rapid pace. At least seven water M&A deals have been announced or closed in the past month. Only six E&P deals have been announced in the same period. Permian sees $560 million[Read More…]

Texas Feeding Frenzy Continues in $1.6 Billion Deal

Texas Feeding Frenzy Continues in $1.6 Billion Deal

Deal expands Cimarex’s Reeves County position The oil and gas M&A frenzy continues, as Cimarex Energy (stock ticker: XEC) announced its acquisition of Resolute Energy (stock ticker: REN) today. Resolute Energy is a pure-play Delaware player, with 21,100 net acres in Reeves County. The company is currently producing 34.8 MBOEPD, 45% of which is oil. Much of this acreage is[Read More…]

Photo by Mike Goldwater"

Anadarko Divests Midstream Assets for $4 Billion

Western Gas announces drop-down, simplification Western Gas Partners (ticker: WES) announced several moves today, expanding its holdings and simplifying its corporate structure. Western Gas Partners will acquire $4 billion in midstream assets from its parent Anadarko (ticker: APC), all the company’s remaining midstream assets. These assets include oil and water gathering pipelines in the Delaware, including associated treatment and disposal[Read More…]