Mergers & Acquisitions

W&T Offshore Sells Permian Assets, Sets Sights on Gulf of Mexico

W&T Offshore Sells Permian Assets, Sets Sights on Gulf of Mexico

WTI Deals Permian Position for $376 Million to Private Equity Firm

W&T Offshore (ticker: WTI), a Houston-based exploration and production company, has increased its focus on assets… offshore. On September 1, 2015, WTI divested the majority of its position in …

Not Your Granddaddy’s OFS Provider: Schlumberger and Cameron Are Primed to Change How it’s Done at the Wellhead

Not Your Granddaddy’s OFS Provider: Schlumberger and Cameron Are Primed to Change How it’s Done at the Wellhead

Schlumberger Creates “Pore to Pipeline” Business with $14.8 Billion Takeover of Cameron Intl.

While Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) labor over the fine print of their proposed merger, their top oil service rival is making moves of …

Encana in the Haynesville: From Entry to Today’s $850 Million Exit

Encana in the Haynesville: From Entry to Today’s $850 Million Exit

Calgary-based Encana Corporation (ticker: ECA) made a big jump in reducing its debt on August 25, 2015, selling the entirety of its assets in the Haynesville for total cash consideration of $850 million. The buyer, GEP Haynesville (a joint venture …

ExxonMobil Increases Position in the Permian with 48,000 Acre Acquisition

ExxonMobil Increases Position in the Permian with 48,000 Acre Acquisition

ExxonMobil executes two deals for Permian acreage

ExxonMobil (ticker: XOM) announced that it has acquired 48,000 acres in the core of the Midland Basin through the execution of two agreements. The agreements include an acquisition and farm-in adjoining XOM subsidiary …

By the Numbers:  Goodrich Petroleum Deals Portion of Eagle Ford Assets; Retains Future EF Upside and Provides Capital Liquidity

By the Numbers:  Goodrich Petroleum Deals Portion of Eagle Ford Assets; Retains Future EF Upside and Provides Capital Liquidity

Acreage Value Increase of 441% Since Initial Purchase in 2010

Goodrich Petroleum (ticker: GDP) sold its proved reserves and approximately 13,000 net acres in the Eagle Ford Shale for $118 million to an undisclosed buyer, the company said in a …

Eagle Energy Trust Acquires Alberta Position for $30 Million

Eagle Energy Trust Acquires Alberta Position for $30 Million

Eagle Energy Trust Announces Strategic Alberta Acquisition in the Twining Field

Eagle Energy Trust (“Eagle“) (TSX:EGL.UN) is pleased to announce that it has entered into an agreement with a private company (“Privateco“) for the acquisition by

July 23, 2015 - 4:31 pm Canada, Mergers & Acquisitions
Shell-BG Merger Accounts for 73% of Q2 M&A

Shell-BG Merger Accounts for 73% of Q2 M&A

M&A activity down in terms of volume, but Shell-BG megadeal pushes overall dollar value up

The second quarter of 2015 showed the largest amount of activity in mergers and acquisitions (M&A) in the oil and gas sector by value since …

July 22, 2015 - 1:28 pm Mergers & Acquisitions, Oil and Gas 360 Articles
Chesapeake Energy Erases Dividend, Sells Non-Core Properties in Cost-Cutting Moves

Chesapeake Energy Erases Dividend, Sells Non-Core Properties in Cost-Cutting Moves

Chesapeake Energy (ticker: CHK), the second largest producer of natural gas in the United States, altered its financial strategy via a company news release on July 21, 2015. The announcement included a handful of cash-saving moves, ranging from internal budget …

Enterprise Products Partners: $1.5 Billion Midstream Asset Sale Finances Purchase of Eagle Ford Midstream

Enterprise Products Partners: $1.5 Billion Midstream Asset Sale Finances Purchase of Eagle Ford Midstream

Divested Assets Worth 3% of EPD’s Gross Operating Margin

Enterprise Products Partners (ticker: EPD), the largest master limited partnership in EnerCom’s MLP Scorecard Benchmarking Report, has sold its offshore Gulf of Mexico pipelines and services business to Genesis Energy LP …

Penn Virginia Pads Balance Sheet in $75 Million Non-core Asset Sale

Penn Virginia Pads Balance Sheet in $75 Million Non-core Asset Sale

On July 15, 2015, Penn Virginia (ticker: PVA) announced the sale of its East Texas assets to an undisclosed buyer for gross proceeds of $75 million. The sale is expected to close by August 2015 and includes approximately 33,400 net …

Energy Transfer Partners Announces $1.94 Billion Dropdown

Energy Transfer Partners Announces $1.94 Billion Dropdown

Energy Transfer Partners Moves Susser Holdings to Sunoco LP

Energy Transfer Partners (ticker: ETP) announced that it plans a 100% dropdown of Susser Holdings Corp. (SHC) for approximately $1.94 billion to its subsidiary Sunoco LP (ticker: SUN). In addition, there …

July 15, 2015 - 6:33 pm Mergers & Acquisitions, MLPs, Oil and Gas 360 Articles
Oil & Gas 360 Energy News

Arc Logistics Enters Weld County Midstream with $76.6 Million Acquisition

Pawnee Terminal offers connection into Pony Express Pipeline to CushingArc Pawnee Terminal

Arc Logistics (ticker: ARCX) announced today the $76.6 million acquisition of all the limited liability company interest of UET Midstream from United Energy Trading and Hawkeye Midstream. The consideration for …

WPX Energy Adds Permian Basin to Portfolio with $2.75 Billion Acquisition

WPX Energy Adds Permian Basin to Portfolio with $2.75 Billion Acquisition

WPX Establishes Fourth Core Area

Wells Provide 30% Return at $60/barrel

WPX Energy (ticker: WPX) is moving into the most prolific oil play in the United States.

On July 14, 2015, the Tulsa-based company announced the acquisition of privately held …

Halliburton and Baker Hughes Agree to Extend DOJ Review in $34.6 Billion Merger Deal

Halliburton and Baker Hughes Agree to Extend DOJ Review in $34.6 Billion Merger Deal

Department of Justice given until November 25 to review Halliburton and Baker Hughes merger

Oilfield service giants Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) announced today that they have entered into a timing agreement with the Antitrust Division of …

Legacy Reserves Gears Up with $440 Million Acquisition, Joint Venture Agreement

Legacy Reserves Gears Up with $440 Million Acquisition, Joint Venture Agreement

Legacy Enters East Texas, More Acquisitions to Follow?

Legacy Reserves LP (ticker: LGCY), a master limited partnership (MLP) with an exploration and production focus, announced significant additions to its growth plan in separate news releases on July 6, 2015.

Legacy

Crescent Point Energy Buys Out Partner for Approximately $204 Million

Crescent Point Energy Buys Out Partner for Approximately $204 Million

Crescent Point Energy (ticker: CPG) is expanding its presence in Alberta as the result of a stock for stock merger.

On July 2, 2015, the Calgary-based exploration and production company announced the purchase of Coral Hill Energy Ltd. for C$258 …

Energy XXI Closes $266 Million in Asset Sales, Updates Operations

Energy XXI Closes $266 Million in Asset Sales, Updates Operations

Liquidity Pushing $1 Billion

Energy XXI (ticker: EXXI) announced its second asset sale in the last 10 days in a company press release on July 1, 2015. The Gulf Coast operator closed on its East Bay Field for $21 million …

Cenovus Sells Oil and Gas Royalty Unit for $3.3 Billion

Cenovus Sells Oil and Gas Royalty Unit for $3.3 Billion

In an effort to strengthen its balance sheet, Cenovus (ticker: CVE) has sold its royalty unit to Ontario Teachers’ Pension Plan (Teachers’) for gross cash proceeds of approximately $3.3 billion. The unit, named Heritage Royalty Limited Partnership (HRP), is a …

Siemens Gets Greenlight on $7.8 Billion Buyout of Dresser-Rand

Siemens Gets Greenlight on $7.8 Billion Buyout of Dresser-Rand

After four months, E.U. antitrust regulators approve Siemens deal for oil & gas compression equipment manufacturer

E.U. antitrust regulators unconditionally approved Siemens’ (ticker: SIE) acquisition of Houston-based Dresser-Rand (ticker: DRC) for total consideration of $7.8 billion, according to a press

Core Laboratories Acquires Sanchez Technologies

Core Laboratories Acquires Sanchez Technologies

Core Lab (ticker: CLB) only company capable of generating EOR data at 20,000+ PSI in GOM Deepwater Plays

Core Laboratories (ticker: CLB), a global leader in reservoir description, production enhancement and reservoir management services, announced the purchase of Sanchez Technologies …

WPX Energy Tacks on Acreage in the San Juan Basin

WPX Energy Tacks on Acreage in the San Juan Basin

WPX Energy (ticker: WPX) added 14,300 net acres to its San Juan Basin asset on June 22, 2015, increasing its overall position in the region to 100,000 net acres. WPX believes it holds 500 gross drilling locations across the Gallup …

Energy XXI Bolsters Balance Sheet with $245 Million Sale, Reaches Agreement with BOEM

Energy XXI Bolsters Balance Sheet with $245 Million Sale, Reaches Agreement with BOEM

Energy XXI (ticker: EXXI), one of the largest operators in the Gulf of Mexico, announced significant liquidity-enhancing measures in two separate press releases on June 22, 2015. The first announcement, released prior to market opening, confirmed an agreement with the …

June 22, 2015 - 6:54 pm Mergers & Acquisitions, Oil and Gas 360 Articles
Williams Companies Rejects $53 Billion Buyout Offer

Williams Companies Rejects $53 Billion Buyout Offer

Energy Transfer Equity makes an all-equity offer for Williams

The Williams Companies (ticker: WMB) rejected an all-equity transaction valued at $53.1 billion, including the assumption of debt and other liabilities, from Energy Transfer Equity (ticker: ETE), according to an ETE

June 22, 2015 - 6:11 pm Mergers & Acquisitions, MLPs, Oil and Gas 360 Articles
Trans-Alaska oil pipeline

Enbridge Boosts Dividends, Transfers $30.4 Billion of Assets to Income Fund

Enbridge Income Fund Receives Canadian Oil Sands System and Renewables

Enbridge (ticker: ENB) followed through on its April 2015 proposal to transfer assets to its Income Fund, swapping ownership of its Canadian Mainline, Regional Oil Sands System and Canadian renewable …

PBF Purchases 189 MBOPD of Refining Capacity

PBF Purchases 189 MBOPD of Refining Capacity

PBF purchases Chalmette Refinery and other assets for $322 million

PBF Energy (ticker: PBF) announced today that its subsidiary has signed an agreement to purchase Chalmette Refining, LLC in New Orleans, Louisiana for $322 million plus working capital including inventory …

Escalera Resources Expands Atlantic Rim Holdings with $47 Million Purchase

Escalera Resources Expands Atlantic Rim Holdings with $47 Million Purchase

Escalera expands its core assets with purchase from Warren Resources

Escalera Resources (ticker: ESCR) added to its core assets with the $47 million purchase of producing wells and leasehold interests from Warren Resources (ticker: WRES) in the Atlantic Rim Area …

UAE’s Emirates National Oil Company Buys Out Subsidiary for $3.7 Billion

UAE’s Emirates National Oil Company Buys Out Subsidiary for $3.7 Billion

Emirates National Oil Company (ENOC), a wholly owned entity of the Dubai government, will buy out Dragon Oil for $3.7 billion. Neither company has confirmed the announcement but several news outlets are reporting an agreement has been reached.

ENOC …

June 15, 2015 - 3:25 pm Mergers & Acquisitions, Oil and Gas 360 Articles, OPEC
Hess Midstream Partners LP One Step Closer to Reality

Hess Midstream Partners LP One Step Closer to Reality

Next Up: IPO

Hess Corporation (ticker: HES) has announced plans for a 50/50 joint venture (JV) consisting of its midstream assets in the Bakken Shale. The company will receive cash consideration of $2.675 billion from its partner, Global Infrastructure Partners

Gulfport Energy Purchases Utica Acreage from American Energy Partners

Gulfport Energy Purchases Utica Acreage from American Energy Partners

Increases Net Utica Position to more than 230,000 Acres

Gulfport Energy (ticker: GPOR) made its second sizable acquisition in three months on June 9, 2015, landing 45,163 gross acres (33,426 net) in the Utica Shale from American Energy – Utica, …

Great Western Oil & Gas Continues Acquisitions in the DJ Basin

Great Western Oil & Gas Continues Acquisitions in the DJ Basin

Great Western purchased 6,000 acres in the Wattenberg Field

Great Western Petroleum, a subsidiary of Great Western Oil & Gas Company, an affiliate of The Broe Group, purchased approximately 6,000 acres and eight producing wells in the Wattenberg Field, according