Acquisitions and Divestitures Archives - Page 14 of 18

Sentinel Peak Resources, Freeport-McMoRan Close Onshore California Deal

January 3, 2017

Sale takes FCX production down to 7,000 barrels of oil and NGLs, 74 MMcf of natural gas per day Privately held Sentinel Peak Resources LLC, which is based in Denver, has closed its previously announced acquisition of the onshore California assets of the oil and gas subsidiary of Freeport-McMoRan Inc. (ticker: FCX) for $592 million in cash, before closing adjustments, the companies announced

Centennial Resource Development Equity Private Placements Now Total $910 Million

December 5, 2016

Centennial readies itself for a busy 2017 in the Permian Centennial Resource Development, Inc. and its affiliates (ticker: CDEV) has entered into agreements to issue and sell $910 million of equity securities to third-party investors in a private placement, including its previously announced agreement to issue and sell to an affiliate of Riverstone Holdings LLC (“Riverstone”) up to $500 million of equity securities. Centennial expects to use

Anadarko to Buy All of Freeport McMoRan’s Gulf of Mexico Deepwater Assets for $2 Billion

September 14, 2016

Anadarko Deepwater GOM cash flow will fund Delaware, DJ growth In exchange for production of 80,000 net barrels of oil equivalent per day (BOEPD), Anadarko Petroleum (ticker: APC) will give Freeport McMoRan Oil & Gas Company (ticker: FCX) $2 billon in a deal that Anadarko calculates could deliver $3 billion of incremental free cash flow over the next five years to Anadarko

Devon joins shale firms to cut spending as oil hovers at $30- oil and gas 360

Devon Energy Divests Interest in Midstream Assets

July 14, 2016

Devon Energy has reached a definitive agreement to divest the company’s 50% stake in Access Pipeline for $1.1 billion dollars to Wolf Midstream, a portfolio company of Canada Pension Plan Investment Board (CPPIB). The terms of the agreement also give consideration to sanctioning and development of a new thermal-oil project on Devon’s Pike lease in Alberta, Canada. “With the highly-accretive

Laredo Petroleum Bolts-On Acreage and Raises Equity

July 14, 2016

Laredo Petroleum has entered into a purchase and sale agreement for additional acreage within the company’s existing Midland Basin footprint for $125 million. The acquisition will add approximately 9,200 net acres to Laredo’s position, with roughly 6,300 acres in the Spraberry interval and 2,900 acres in the Spraberry, Wolfcamp, Canyon, and Cline zones. The acquisition secures additional rights to the

Samson Oil & Gas Sells North Stockyard Assets

July 1, 2016

Move boosts liquidity Samson Oil & Gas (ticker: SSN) announced an agreement to sell the company’s interest in the North Stockyard field for $15 million. The buyer of the acreage is Angelus Private Equity Group, who has placed a $1 million deposit on the property. Closing is expected to occur on August 31, 2016. The sale will allow Samson to

Devon Energy Monetizes Assets, Raises CapEx and Production Guidance

June 16, 2016

Pioneer Natural Resources Acquires Midland Basin Acreage with $827 Million Secondary Offering Devon Energy Corp. has been piling up the assets sales so far in 2016, announcing on June 15, 2016, the most recent divestiture of assets in the Midland Basin for a cumulative $858 million. This is comprised of two separate transactions, both in the Midland Basin. In the

Antero Resources Snags 55,000 Core Marcellus Acres

June 9, 2016

Antero Resources (ticker: AR) has signed an agreement with Southwestern Energy (ticker: SWN) to acquire approximately 55,000 net acres in the core of the Marcellus shale, the company announced on June 9, 2016. Approximately 75% of the 55,000 net acres contains dry Utica rights. The acquisition includes undeveloped properties located primarily in Wetzel, Tyler and Doddridge Counties in West Virginia

Parsley Energy Announces Capital Raises, Acreage Acquisition Agreement

May 23, 2016

Parsley Energy, Inc. (ticker: PE) announced on May 23, 2016, that the company has reached an agreement to acquire mineral rights under approximately 30,000 acres consisting of Parsley leasehold and other adjacent properties in Pecos and Reeves Counties, Texas, in the Southern Delaware Basin for $280.5 million in cash. The proposed transaction is scheduled to close by July 14, 2016.

$6-Billion Thai Company Acquires 156 BCF of Marcellus Reserves from Range Resources

May 23, 2016

Kalnin Ventures Announces Closing of Marcellus Asset Acquisition for Banpu Pcl Pays $112 Million for Range’s 29.4% stake in Chaffee Corners JEA Repsol and Abarta Energy own the remaining interest in the exploration area BROOMFIELD, CO–(Marketwired – May 23, 2016) – Kalnin Ventures LLC today announced it has closed the purchase of a 29.4 percent stake from Range Resources –

Oil Service Companies FMC Technologies and Technip Announce $13 Billion Merger

May 19, 2016

Oil service companies FMC and Technip announced a plan to merge in an all-stock deal worth about $13 billion to create a larger player in the energy services sector. The Houston-based FMC Technologies and the Paris-headquartered Technip will combine to form TechnipFMC. FMC investors will get one share in the company, while those with Technip shares will get two, the

SLB: Is the Familiar Bellwether Loudly Trumpeting the Start of Buying Season?

April 28, 2016

The most common adage heard among the investment community is “buy low, sell high.” But depressed oil prices combined with the rise in bankruptcies led many industry insiders to wait for increased M&A activity. But the onslaught of fire sales and corporate mergers has yet to earnestly materialize. This week, industry bellwether Schlumberger (ticker: SLB) announced its second 2016 acquisition:

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