Mergers, Acquisitions & Divestitures

Source: Reuters

Crestwood Equity to boost U.S. shale footprint with $1.8 bln deal

Reuters


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 …

Source: Reuters

EXCLUSIVE U.S. slows down oil and gas mergers-sources

Nasdaq


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 …

Source: Reuters

ConocoPhillips says Shell deal lowers emissions intensity

World Oil


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 …

Source: Fox Business

Shell exits Permian with $9.5 bln Texas shale sale to ConocoPhillips

Fox Business


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

Proxy advisor ISS recommends Cimarex shareholders vote for Cabot merger

Nasdaq


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 …

Source: Reuters

Oil billionaire Dan Wilks bulks up stake in NexTier Oilfield Solutions

Reuters


Billionaire oilman Dan Wilks increased his stake in NexTier Oilfield Solutions, according to a regulatory filing on Thursday, his latest purchase in the hard-hit oilfield services industry.

Oilfield equipment and service companies were among the worst performing sector of …

Source: Reuters

Chesapeake doubles down on Haynesville shale gas with Vine Energy buy

Reuters


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 …

Source: Reuters

Petrobras says hires JPMorgan as adviser to sell Braskem stake

Nasdaq


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 …

Source: Reuters

Pioneer CEO stays on the sidelines of latest shale M&A round

World Oil


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 …

Source: World Oil

Shell courts multiple suitors for its $10B Permian shale portfolio

World Oil


(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 …

Source: Reuters

Kinder Morgan to purchase renewable natural gas developer Kinetrex Energy

$310 million acquisition includes two small-scale, domestic LNG production and fuel…

Source: Reuters

Brookfield sweetens offer for Canada’s Inter Pipeline to $6.85 billion

Reuters


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 …

Source: Fox Business

Dominion Energy, Warren Buffett’s Berkshire Hathway Energy terminate Questar Pipeline sale

Fox Business

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 …

Source: Reuters

U.S. oil mergers surge as energy, share prices recover from pandemic

Reuters


HOUSTON – U.S. oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, according to data released on Monday, as rising energy and share prices led to larger oilpatch deals.

Producer are consolidating …

Source: Reuters

Japanese oil producer eyes Canada divestment as M&A picks up

Investing.com


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 …

Source: Reuters

EXCLUSIVE Shell plans to exit California joint venture with Exxon Mobil -sources

Reuters


Royal Dutch Shell Plc (RDSa.L) plans to leave Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp (XOM.N), four people familiar with the talks told Reuters.

Shell has divested numerous carbon intensive assets this year, …

Source: Reuters

Tellurian looks to grow U.S. gas output organically and through M&A

Reuters


U.S. liquefied natural gas (LNG) developer Tellurian Inc wants to grow gas production by adding to its own output and through mergers and acquisitions, the company’s executive chairman Charif Souki said this week.

He said this was “a once …

Source: Reuters

Vista Oil, Trafigura to develop oil wells in Argentina

Reuters


BUENOS AIRES – Latin American oil company Vista Oil & Gas and Geneva-based Trafigura on Monday signed a deal to jointly develop 20 wells in Argentina’s Vaca Muerta shale oil deposit, the companies said in a statement.

The investment …

Enverus acquires marginal unit to address power congestion, predictability and price impact

Enverus acquires marginal unit to address power congestion, predictability and price impact

Oil and Gas 360


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 …

Source: Reuters

Shell buys BP’s stake in North Sea field, scrapping previous deal

Nasdaq


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 …

Source: Reuters

Interest in Shell’s Permian assets seen as a bellwether for shale demand

Reuters


NEW YORK/HOUSTON – A cadre of oil companies, seeing continued profits in shale, are mulling Royal Dutch Shell’s holdings in the largest U.S. oil field as the European giant considers an exit from the Permian Basin, according to market …

Source: CNBC

Occidental to sell some Permian basin assets for $508 mln

Reuters


Occidental Petroleum Corp said on Thursday it would sell some of its acreage in Texas’ Permian basin to an affiliate of private equity-backed Colgate Energy Partners III LLC for $508 million.

The oil producer has cut jobs, production and …

Source: Reuters

Pembina Pipeline to buy 50% stake in Canada’s proposed Cedar LNG

Reuters


Pembina Pipeline Corp said on Tuesday it would buy a 50% stake in Canada’s proposed Cedar LNG Project to develop the floating liquefied natural gas facility in British Columbia in partnership with indigenous group, The Haisla Nation.

Pembina expects …

Source: Reuters

KKR’s Independence, Contango to merge in $5.7 bln oil and gas deal

Reuters


KKR & Co’s (KKR.N) Independence Energy LLC and Contango Oil & Gas Co (MCF.A) will merge in an all-stock deal to create a consolidation-focused oil and gas company with an enterprise value of about $5.7 billion.

Deal-making in the …

Source: Reuters

Analysis: Market for U.S. oil acreage booms along with crude price recovery

Reuters


A recovery in the price of oil to more than two-year highs is offering a long-awaited opening to companies and private equity firms to shed unloved assets in the U.S. oil patch.

Sales of land parcels worth $6.9 billion …

Civitas adds premium assets in DJ Basin with all-stock acquisition of Crestone Peak Resources

Civitas adds premium assets in DJ Basin with all-stock acquisition of Crestone Peak Resources

Enhances Civitas’ Scale and Synergy Potential, with Addition of Crestone’s Highly Complementary and Adjacent Assets

Crestone Operations Support Civitas’ Commitment to Achieve Net-Zero Emissions

DENVER, June 07, 2021 (GLOBE NEWSWIRE) — Civitas Resources, Inc. (“Civitas” or the “Company”), a Colorado …

Source: Reuters

Gas producer Southwestern to scale up with $2.7 bln deal for Indigo Natural

Business Wire


SPRING, Texas–(BUSINESS WIRE)–Southwestern Energy Company (NYSE: SWN) (the “Company” or “Southwestern”) today announced that it has entered into a definitive merger agreement with Haynesville producer Indigo Natural Resources, LLC (“Indigo”) under which it will acquire Indigo

Source: catahoularesources.com

Battelle and Catahoula Resources forge partnership to accelerate carbon capture, utilization and storage

COLUMBUS, Ohio & HOUSTON–(BUSINESS WIRE)–Battelle and Catahoula Resources (“Catahoula”) will jointly develop solutions for the capture, transport and sequestration of carbon dioxide produced at ethanol facilities in Nebraska.

The agreement pairs the world’s largest private independent research …

Source: Fox Business

Shell to sell interest in Deer Park refinery to partner Pemex

Fox Business


HOUSTON/MEXICO CITY – Royal Dutch Shell agreed on Monday to sell its controlling interest in a Texas refinery to partner Petroleos Mexicanos (Pemex) for about $596 million, the latest move by the European oil major to cut its …

Source: Reuters

BHP divests oilfield stake in Gulf of Mexico for undisclosed sum

Reuters


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 …