Mergers, Acquisitions & Divestitures
Tellurian looks to grow U.S. gas output organically and through M&A
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 …
Vista Oil, Trafigura to develop oil wells in Argentina
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 …
Interest in Shell’s Permian assets seen as a bellwether for shale demand
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 …
Occidental to sell some Permian basin assets for $508 mln
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 …
Pembina Pipeline to buy 50% stake in Canada’s proposed Cedar LNG
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 …
Analysis: Market for U.S. oil acreage booms along with crude price recovery
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
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 …
Gas producer Southwestern to scale up with $2.7 bln deal for Indigo Natural
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
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 …
Shell to sell interest in Deer Park refinery to partner Pemex
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 …
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…
…Shell exits Philippine gas field in $460 million deal
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 …
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 …
Fresh from Icahn settlement, FirstEnergy weighs divestitures – sources
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
Exclusive: Biofuels processor POET in talks to acquire Flint Hills’ ethanol assets – companies
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 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
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
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
Chevron pitches $100 million in New Mexico properties as oil M&A heats up
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 Corporation (NYSE: HES) announced today that it has completed the previously annou…
…Iraq considering buying Exxon stake in West Qurna 1 oilfield – oil minister
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 to receive $2.150 billion in cash, including recovery of approximately …
…Exxon says it may close down its oil refinery in Norway
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 …
Sempra Energy to sell 20% stake in unit to KKR for $3.37 billion
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 …