Mergers, Acquisitions & Divestitures

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 …

Oasis Petroleum Inc. announces strategic sale of its Permian assets and updates 2021 outlook

Oasis Petroleum Inc. announces strategic sale of its Permian assets and updates 2021 outlook

Oasis Petroleum Inc. Announces Strategic Sale of Its Permian Assets and Updates 2021 Outl…

Source: Reuters

Shell exits Philippine gas field in $460 million deal

Reuters


LONDON -Royal Dutch Shell has agreed to sell its stake in an offshore gas field in the Philippines for $460 million as part of its strategy to narrow its oil and gas operations.

Shell sold its 45% stake in …

Source: Reuters

Cenovus sells Marten Hills royalty interest for more than $100 million

 

Calgary, Alberta (May 18, 2021) – Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has sold its gross overriding royalty (GORR) in the Marten Hills area of Alberta to Topaz Energy Corp. for gross cash proceeds of $102 million. The …

Source: Reuters

Fresh from Icahn settlement, FirstEnergy weighs divestitures – sources

Reuters


FirstEnergy Corp, the U.S. utility that gave activist investor Carl Icahn seats on its board this year, is exploring divestitures as an alternative to raising cash by selling stock, according to four people familiar with the matter.

Akron, Ohio-based

Source: Reuters

Exclusive: Biofuels processor POET in talks to acquire Flint Hills’ ethanol assets – companies

Reuters


NEW YORK – POET, the largest biofuels producer in the United States, is in discussions with Flint Hills Resources to acquire the entirety of Flint Hills’ ethanol assets, both companies told Reuters on Thursday.

The deal would increase POET’s …

Chevron and Noble Midstream Partners LP complete merger transaction

Chevron and Noble Midstream Partners LP complete merger transaction

Chevron Corporation (NYSE: CVX) (“ Chevron ”) and Noble Midstream Par…

Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources – A new Colorado Energy Leader and the State’s First Net-Zero Oil & Gas Producer

Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources – A new Colorado Energy Leader and the State’s First Net-Zero Oil & Gas Producer

DENVER, May 10, 2021 /PRNewswire/ — Bonanza Creek Energy, Inc. (NYSE: BCEI) (“Bonanza Creek”) and Extraction Oil & Gas, Inc. (NASDAQ: XOG) (“Extraction”), today announced that they have entered into a definitive agreement to combine in an all-stock merger of …

EQT announces transformative transaction with Alta Resources

EQT announces transformative transaction with Alta Resources

05/06/21

PITTSBURGH, May 6, 2021 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced that it has entered into a purchase agreement with Alta Resources Development, LLC (Alta), pursuant to which

Source: Reuters

Chevron pitches $100 million in New Mexico properties as oil M&A heats up

Reuters


HOUSTON – Chevron Corp is offering to sell about 73,000 acres (29,540 hectares) of oil and gas properties in New Mexico, according to documents viewed by Reuters, as oil firms accelerate divestitures in a rebounding oil market.

Sales in …

Hess completes sale of non strategic interests in Bakken acreage

Hess completes sale of non strategic interests in Bakken acreage

Hess Corporation (NYSE: HES) announced today that it has completed the previously annou…

Source: Reuters

Iraq considering buying Exxon stake in West Qurna 1 oilfield – oil minister

Reuters


BAGHDAD -Iraq is considering buying ExxonMobil’s stake in the southern West Qurna 1 oilfield through the state-owned Basra Oil Company, the country’s oil minister said on Monday.

The oil ministry is discussing BOC “taking ownership of the Exxon stake …

CenterPoint announces sale of Arkansas and Oklahoma natural gas LDC businesses to Summit Utilities for $2.150 billion in cash

CenterPoint announces sale of Arkansas and Oklahoma natural gas LDC businesses to Summit Utilities for $2.150 billion in cash

CenterPoint to receive $2.150 billion in cash, including recovery of approximately …

Source: Reuters

Exxon says it may close down its oil refinery in Norway

Reuters


OSLO – Exxon is considering whether to close down its Slagen oil refinery in Norway, which has a capacity to process 120,000 barrels of crude per day, turning the site into an import terminal, the U.S. energy major said …

Source: Reuters

Sempra Energy to sell 20% stake in unit to KKR for $3.37 billion

Reuters


Energy infrastructure company Sempra Energy said on Monday it would sell a 20% stake in its new business platform, Sempra Infrastructure Partners, to investment firm KKR for $3.37 billion in cash.

The sale was flagged by Sempra in December …

Source: Reuters

Pioneer’s $6.4 billion deal for DoublePoint accelerates U.S. shale oil consolidation

Reuters


U.S. oil producer Pioneer Natural Resources agreed on Thursday to acquire privately-held rival DoublePoint Energy for about $6.4 billion, speeding up a consolidation of shale oil producers.

Oilfield rollups have accelerated this year as energy prices recover following last …