Mergers, Acquisitions & Divestitures

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 …

MOJO Data Solutions, Inc. to Acquire New Patented Technology

MOJO Data Solutions, Inc. to Acquire New Patented Technology

CEDAR HILL, TX / ACCESSWIRE / February 20, 2020 / MOJO Data Solutions, Inc. (OTCPINK:MJDS) has plans to affiliate with TWL Water Technologies, LLC (“TWL”), which has rights to multiple patented and patent pending technologies that focus on water treatment, …

ArcLight and Rattler Form 50/50 Midstream Joint Venture

ArcLight and Rattler Form 50/50 Midstream Joint Venture

ArcLight Capital Partners and Rattler Midstream, a subsidiary of Diamondback Energy, announced today that Amarillo Midstream, an ArcLight Fund V portfolio company, and an affiliate of Rattler have entered into a 50/50 joint venture to own, operate and expand a …

Quorum Software Acquires EnergyIQ

Quorum Software Acquires EnergyIQ

Oil & Gas 360 News Wire ‘


Leader in Digital Transformation for Oil and Gas Enhances Software and Services Portfolio with Acquisition of the Industry Leader in Well Master Data Management

HOUSTON, February 18, 2020 –  Quorum Software (Quorum), the …

Fort McKay Group of Companies continues to expand with acquisition of Birch Mountain Enterprises

Fort McKay Group of Companies continues to expand with acquisition of Birch Mountain Enterprises

Fort McKay Group of Companies continues to expand with acquisition of Birch Mountain Enterprises

Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America;

Enbridge Inc. Reports Strong Fourth Quarter and Full Year 2019 Results

Enbridge Inc. Reports Strong Fourth Quarter & Full Year 2019 Results

Enverus and RS Energy Group Combine Forces

Enverus and RS Energy Group Combine Forces

Enverus


Enverus and RS Energy Group Combine Forces - oilandgas360SaaS innovators strengthen their advanced analytics, intelligence and technology offerings to the energy industry

 

Austin, TX (February 12, 2020) – Enverus, a leading energy SaaS and data analytics company, announces today that it has acquired RS Energy Group …

Worthington Industries Announces Consolidation of Oil and Gas Operations

Worthington Industries Announces Consolidation of Oil and Gas Operations

Worthington Industries Announces Consolidation of Oil and Gas Operations

February 12, 2020 - 11:28 am Mergers, Acquisitions & Divestitures, Press Releases
Viking More Than Doubles Daily Oil & Gas Production With Recent Acquisition

Viking More Than Doubles Daily Oil & Gas Production With Recent Acquisition

Viking More Than Doubles Daily Oil & Gas Production With Recent Acquisition

ORIX Capital Partners Acquires Specialty Welding and Turnarounds, LLC

ORIX Capital Partners Acquires Specialty Welding and Turnarounds, LLC

ORIX Capital Partners Acquires Specialty Welding and Turnarounds, LLC

CenterPoint Energy to Sell Miller Pipeline and Minnesota Limited to PowerTeam Services

CenterPoint Energy to Sell Miller Pipeline and Minnesota Limited to PowerTeam Services

CenterPoint Energy to Sell Miller Pipeline and Minnesota Limited to PowerTeam Services

Fugro, HC2 divest Global Marine Group stake

Fugro, HC2 divest Global Marine Group stake

Marine Link



US-based financial services company HC2 Holdings and the Dutch multinational provider of geo-intelligence Fugro have sold offshore engineering specialist Global Marine Group (GMG) to private equity firm J.F. Lehman & Company for a sum of USD 250 million. …

Shell finalizes sale of Martinez Refinery

Shell finalizes sale of Martinez Refinery

Shell finalizes sale of Martinez Refinery

Westinghouse Expands Nuclear Services & Capabilities With Acquisition Of Rolls-Royce Civil Nuclear Systems And Services

Westinghouse Expands Nuclear Services & Capabilities With Acquisition Of Rolls-Royce Civil Nuclear Systems And Services

Westinghouse Expands Nuclear Services & Capabilities With Acquisition Of Rolls-Royce Civil Nuclear Systems And Services

Source: Houston Chronicle

Parsley Energy following trend – cuts budget, hikes dividend

Houston Chronicle


Austin’s Parsley Energy is following a growing trend among oil and gas producers – cutting their capital budgets while hiking payouts to shareholders.

The moves are intended to instill conservative fiscal restraint while also wooing Wall Street investors …

Magellan Midstream sells marine terminals to Buckeye Partners

Magellan Midstream sells marine terminals to Buckeye Partners

Business & Industry


Magellan Midstream Partners, L.P. announced today an agreement to sell three marine terminals to Buckeye Partners, L.P. for $250 million. The terminals are located in New Haven, Connecticut, Wilmington, Delaware and Marrero, Louisiana.

Magellan Midstream sells marine terminals to Buckeye Partners - oilandgas360

“Magellan remains focused on …

January 23, 2020 - 9:14 pm Mergers, Acquisitions & Divestitures, Midstream