Acquisitions and Divestitures Archives - Page 15 of 18

Samson Oil & Gas Announces Hedging and Operations Program for its Foreman Butte Acquisition in the Williston Basin

April 6, 2016

Samson Aims to Return 29 Inactive Wells to Producing Status On April 3, Samson Oil & Gas Limited (ticker: SSN; SamsonOilandGas.com) announced it had closed its planned acquisition of oil and gas assets in Montana and North Dakota—the Foreman Butte acquisition. Acquired Asset Highlights 721 bopd net production (11/01) 100 Operated wells 50 Non-Operated wells 7MMBO in net proved reserves

ValueAct Sued by DOJ Over Halliburton-Baker Hughes Acquisition

April 5, 2016

What defines a passive investor as opposed to an activist investor? The Department of Justice (DOJ) announced on Monday April 4, 2016, that legal action has been taken against ValueAct Capital for their activist investor position related to the merger agreement between Halliburton and Baker Hughes. The lawsuit alleges impropriety with the lead up to the merger and accuses ValueAct

Samson Oil & Gas Closes Foreman Butte Acquisition

April 4, 2016

DENVER & PERTH, Australia–(BUSINESS WIRE)–Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN): Foreman Butte Transaction Samson Oil and Gas USA, Inc. (a wholly owned subsidiary of Samson Oil and Gas Limited) has closed the transaction to acquire the Foreman Butte acquisition. The acquisition includes oil and gas leases, producing oil and gas wells, currently shut-in wells and associated

Supermajors Selling Billions in Assets to Offset Oil Downturn

February 8, 2016

Shell leads the way with $30 billion divestiture plan Earnings season has gone as expected thus far, as the majority of energy companies are reporting losses and writedowns due to the commodity downturn. Some are fighting to maintain their dividends at all costs, while others are abandoning the investor incentive in hopes of adding some protection to their balance sheets.

What’s in the Cards for Clayton Williams Energy?

January 20, 2016

Clayton Williams (ticker: CWEI) and Concho Resources (ticker: CXO) each made significant announcements regarding their respective Delaware Basin positions yesterday, including an acreage swap that is “highly beneficial to both companies,” said Mel Riggs, President of CWEI, in the company’s press release. The two exploration and production companies also announced separate, unrelated transactions in their releases, but the direct exchange

Samson Oil & Gas to Secure 50,000 Williston Basin Acres in Transformative Acquisition

January 6, 2016

Samson Oil & Gas (ticker: SSN) has nearly doubled its output overnight, announcing a $16.5 million acquisition on January 6, 2016. The properties currently produce 720 BOPD from 41 net producing wells and contain proved reserves of 8.5 MMBO as of October 1, according to estimates from Netherland, Sewell & Associates. On a cash comparison, SSN is paying $22,916 for

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

Devon Energy, EnLink Midstream Team Up for $4 Billion Acquisition from Private Companies

December 7, 2015

CEO Hager: STACK is “the best emerging development play in North America” Devon’s STACK position has grown by more than 150,000 net acres in recent months Devon Energy (ticker: DVN) has secured the strongest foothold in the Cana-Woodford, pro forma for its $1.9 billion acquisition of Felix Energy LLC on December 7, 2015. Rumors of the impending cash-and-stock exchange were

Encana Oil & Gas Exits DJ Basin in $900 Million Asset Sale

October 8, 2015

Expects 2015 Net Debt to be Reduced by $3.0 Billion – 50% higher than expected. Calgary-based Encana Corporation (ticker: ECA) is leaving behind its second United States shale play since August, selling its Denver Julesburg assets for $900 million. The company is just six weeks removed from selling the entirety of its Haynesville acreage for $850 million. The aggressive divestures

Memorial Resource Development has More Than Tripled Its Cotton Valley Acreage in Fiscal 2015

September 22, 2015

Announces Rights via Purchase/Leasing Options on 132,758 Net Acres for $373.8 Million Memorial Resource Development (ticker: MRD) unknowingly picked a very difficult time to enter the public sphere (the company launched its initial public offering on June 2, 2014), but the Houston-based company has been one of the more active buyers on the new commodity environment. In a September 21,

Synergy Resources Adds to DJ Basin Acreage in $78 Million Transaction

September 16, 2015

Synergy Resources (ticker: SYRG) is approaching the ownership of 100,000 net acres in the greater Wattenberg area, aided by the purchase of 4,300 net acres on September 15, 2015. The Platteville, Colorado exploration and production company secured the acreage in a deal with privately held K.P. Kauffman Company, Inc., for $78 million, consisting of 4.4 million SYRG shares and $35

W&T Offshore Sells Permian Assets, Sets Sights on Gulf of Mexico

September 1, 2015

WTI Deals Permian Position for $376 Million to Private Equity Firm W&T Offshore (ticker: WTI), a Houston-based exploration and production company, has increased its focus on assets… offshore. On September 1, 2015, WTI divested the majority of its position in the Permian Basin to Ajax Resources, LLC, for gross pre-tax proceeds of $376.1 million. WTI retains an overriding royalty interest

Enterprise Products Partners: $1.5 Billion Midstream Asset Sale Finances Purchase of Eagle Ford Midstream

July 16, 2015

Divested Assets Worth 3% of EPD’s Gross Operating Margin Enterprise Products Partners (ticker: EPD), the largest master limited partnership in EnerCom’s MLP Scorecard Benchmarking Report, has sold its offshore Gulf of Mexico pipelines and services business to Genesis Energy LP (ticker: GEL) for $1.5 billion. The assets consist of 2,350 miles of offshore crude oil and natural gas pipelines and

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