Mergers, Acquisitions & Divestitures

Hedge Fund Angelo Gordon buys Northern Oil & Gas debt

Hedge Fund Angelo Gordon buys Northern Oil & Gas debt

Reuters


Hedge fund Angelo Gordon & Co on Tuesday bought $33 million worth of Northern Oil & Gas Inc’s (NOG.A) debt and said it was planning to push for deals that would increase the shale producer’s cash reserves.…

Source: EQT

EQT Announces closing of asset sale and strategic volume curtailment

360 News Wire


PITTSBURGH, May 26, 2020 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced that it has closed a transaction to sell certain non-strategic assets and implemented a strategic volume curtailment program.

Asset Sale:
EQT has closed a transaction …

Source: Reuters

Exclusive: Exxon revives sale of stake in giant Azeri oilfield

Reuters


LONDON – Exxon Mobil (XOM.N) has relaunched the sale of its stake in Azerbaijan’s largest oilfield, the company said on Tuesday, as banking and industry sources said the move was drawing interest from large Asian oil and …

Exide Technologies Announces Comprehensive Strategy to Position Businesses for Long-Term Sustainable and Profitable Growth

Exide Technologies Announces Comprehensive Strategy to Position Businesses for Long-Term Sustainable and Profitable Growth

Exide Technologies (“Exide” or the “Company”), a global provider of stored energy solutions, today announced a comprehensive strategy to best position its businesses in North America, EMEA, and Asia-Pacific to benefit its employees, customers, suppliers, and other stakeholders across …

Cimarron Energy acquires Aereon

Cimarron Energy acquires Aereon

MRT


With the spotlight continuing to shine on natural gas flaring and emissions, a global emissions control business is utilizing consolidation to boost its footprint. And that will benefit its Midland facility.

Cimarron Energy, which last year acquired Midland’s Hy-Bon …

Centennial Resource Development Announces Termination of Water Infrastructure Transaction

Centennial Resource Development Announces Termination of Water Infrastructure Transaction

DENVER, May 15, 2020 (GLOBE NEWSWIRE) — Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced that, effective May 15, 2020, the previously announced divestiture by its wholly-owned subsidiary, Centennial Resource Production, LLC, of saltwater disposal wells …

Apergy to Host Fireside Chat Conference Call

Apergy to Host Fireside Chat Conference Call

Apergy to Host Fireside Chat Conference Call

Lotus and Centrica Agree Partnership to Redesign Electric Vehicle Ownership

Lotus and Centrica Agree Partnership to Redesign Electric Vehicle Ownership

LONDONMay 11, 2020 /PRNewswire/ — Centrica plc, the parent company of British Gas, and British motor manufacturer Lotus are working together to develop a new model for electric vehicle ownership that fully integrates future mobility and energy.

Source: CNBC

Continental Resources sued by rival over failed $200 million oil deal

Reuters


Casillas Petroleum Resource Partners sued Continental Resources Inc, alleging the Oklahoma shale producer last month backed out of a $200 million oil and gas deal as prices crashed.

U.S. crude futures prices have tumbled, with coronavirus-related lockdowns and travel …

Source: Reuters

BP revises $5.6 billion Alaska deal after oil price crash

Reuters


BP (BP.L) said on Monday it had amended some financial terms of the $5.6 billion sale of its Alaska business to privately held Hilcorp following the recent slump in oil prices, which may lead to a lower …

Bellatrix Announces Sale Transaction in Connection with its Strategic Process

Bellatrix Announces Sale Transaction in Connection with its Strategic Process

360 News Wire


CALGARY, Alberta, April 23, 2020 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) announces a sale transaction (the “Transaction”) pursuant to which Return Energy Inc. (to be renamed Spartan

Source: Reuters

Tallgrass shareholders approve Blackstone-led buyout of pipeline operator

Reuters


HOUSTON – Tallgrass Energy (TGE.N) shareholders on Thursday backed a buyout by a Blackstone-led (BX.N) group that valued the U.S. oil pipeline operator at $6.3 billion, a rare case of a pre-market crash deal going …

Delphi Energy Corp. Announces Continuation of Its Strategic Process Under a Court-Supervised Restructuring Proceeding

Delphi Energy Corp. Announces Continuation of Its Strategic Process Under a Court-Supervised Restructuring Proceeding

Delphi Energy Corp. Announces Continuation of Its Strategic Process Under a Court-Supervised Restructuring Proceeding

Just Energy Announces Sale of Japanese Business

Just Energy Announces Sale of Japanese Business

Sempra Energy Receives All Required Governmental Authorizations For $3.59 Billion Divestiture Of Luz Del Sur In Peru

Sempra Energy Receives All Required Governmental Authorizations For $3.59 Billion Divestiture Of Luz Del Sur In Peru

Sempra Energy (NYSE:SRE) announced today that it has received all required governmental authorizations for the sale of the company’s equity interests in its Peruvian businesses.

April 11, 2020 - 11:55 am Mergers, Acquisitions & Divestitures, Press Releases
Maha Energy acquires onshore producing properties in the Illinois Basin

Maha Energy acquires onshore producing properties in the Illinois Basin

energy-pedia


Maha Energy has announced that its wholly owned subsidiary Maha Energy (US) Inc has entered into an agreement to acquire certain oil producing assets in the Illinois Basin, USA, through the purchase of all outstanding shares in Dome

Crashing oil prices and equity market volatility grind energy deals to a halt at less than $1B in M&A, total Q1 upstream deal value falls to historic low

Crashing oil prices and equity market volatility grind energy deals to a halt at less than $1B in M&A, total Q1 upstream deal value falls to historic low

 

ENVERUS


Austin, Texas (April 2, 2020) – Enverus, the leading oil & gas SaaS and data analytics company, has released its Q1 summary of M&A activity, which revealed a substantial collapse as oil prices plunged to 18-year lows. Only …

Exploration firm Block Energy agrees to acquire Schlumberger subsidiary

Exploration firm Block Energy agrees to acquire Schlumberger subsidiary

Offshore Technology

 

Oil and gas exploration firm Block Energy has reached a sale and purchase agreement for a Schlumberger subsidiary.

The oilfield services giant owns Schlumberger Rustaveli Company Limited (SRCL), which in turn holds three production sharing contracts (PSCs). …

Source: Reuters

Stock market rout doubles pain for energy firms that took shares for deals

Reuters


Energy investor EnCap Investments pulled off a rarity in the U.S. shale business earlier this month, the $2.5 billion sale of oil producer Felix Energy to rival WPX Energy Inc, striking a deal at a time when energy mergers …

SGCC Completes 49 Percent Equity Acquisition of OETC

SGCC Completes 49 Percent Equity Acquisition of OETC

MUSCAT, OmanMarch 16, 2020 /PRNewswire/ — State Grid Corporation of China (SGCC) has completed the 49% equity acquisition of Oman Electricity Transmission Company OETC together with seller Nama Group on March 11 in Muscat, Oman.

Malampaya with depletion compression platform and bridge; Source: Shell

Chevron closes sale of gas project in Philippines

Off Shore Energy


Philippines-based Udenna Corporation has completed the acquisition of Chevron’s interest in Service Contract 38 in the Philippines, also known as the Malampaya natural gas project.

Udenna’s subsidiary, UC Malampaya Philippines Pte Ltd., in October 2019 signed a …

Exclusive: Calumet retains bank to sell Montana refinery: sources

Exclusive: Calumet retains bank to sell Montana refinery: sources

Reuters


NEW YORK  – Calumet Specialty Products Partners LP has retained boutique energy bank Tudor, Pickering, Holt & Co to sell its small oil refinery in Great Falls, Montana, according to two people familiar with the talks.

The refinery has …

Oil price collapse sours $310-million deal for failed shale producer

Oil price collapse sours $310-million deal for failed shale producer

Reuters


HOUSTON  – A court-ordered sale of one-time shale high-flyer Alta Mesa Resources Inc fell through due to a lack of financing on Monday, according to court filings, a day when oil prices and shares of U.S. oil producers plummeted.…

Silverpeak acquires 180-MW Texas solar project from Tri Global Energy

Silverpeak acquires 180-MW Texas solar project from Tri Global Energy

Solar Power World


Tri Global Energy, a leading developer of renewable energy, announced an agreement to sell the 180-MW Flatland Solar project to Silverpeak, an alternative investment firm focused on real estate, energy and credit. Tri Global Energy …

Basic Energy Services acquires well services business from NexTier to create leading well servicing provider in the U.S.

Basic Energy Services acquires well services business from NexTier to create leading well servicing provider in the U.S.

Basic Energy Services


FORT WORTH, Texas–(BUSINESS WIRE)– Basic Energy Services, Inc. (OTCQX:BASX) (“Basic” or the “Company”) today announced that it has acquired the production operations from NexTier (NYSE:NEX) for a consideration of approximately $94 million.The NexTier production operations, known as …

Source: CNBC

Billionaire Sam Zell says he is buying some ‘ridiculously low’ stocks in the wild market swings

CNBC


Sam Zell, who made his fortune scooping up distressed assets, told CNBC on Thursday that he’s been taking advantage of the stock market’s volatility.

The billionaire founder of Equity Group Investments said in a “Squawk Box” interview that “We’ve …

Pacific Ethanol, Inc. Enters Into Agreement to Sell Ownership Interest in Pacific Aurora, LLC

Pacific Ethanol, Inc. Enters Into Agreement to Sell Ownership Interest in Pacific Aurora, LLC

SACRAMENTO, Calif., March 03, 2020 (GLOBE NEWSWIRE) — Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading producer and marketer of low-carbon renewable fuels and high-quality alcohol products in the United States,

Africa Oil Announces Q4’19 and FY’19 Financial and Operating Results and 2020 Management Guidance

Africa Oil Announces Q4’19 and FY’19 Financial and Operating Results and 2020 Management Guidance

VANCOUVERFeb. 25, 2020 /CNW/ – (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) is pleased to announce its financial and operating results for the three months and year ended December 31, 2019. The …

Slawson Exploration Company, Inc., North Dakota Bakken activity. Precision Drilling rig 645 on the Pike Federal 1-3-2H.

Chinook Energy Inc. Announces Plan of Arrangement

Calgary, Alberta–(Newsfile Corp. – February 24, 2020) – Chinook Energy Inc. (TSX: CKE) (“Chinook” or the “Company”) is pleased to announce today that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which Tourmaline Oil Corp. …

ERF Wireless, Inc. Forms New Subsidiary to Acquire Oil and Gas Assets

ERF Wireless, Inc. Forms New Subsidiary to Acquire Oil and Gas Assets

DALLASFeb. 21, 2020 /PRNewswire/ — ERF Wireless, Inc. (OTC PINK: ERFB), today announced that the board of directors have voted to form a new wholly owned private Texas subsidiary corporation named Zona Resources, Inc. The purpose of this …