Acquisitions and Divestitures Archives - Page 17 of 18

Encana Sees Big Potential in $7.1 Billion Acquisition of Permian Pure-Play Athlon Energy

September 29, 2014

Calling the move “transitional,” Encana Corp. (ticker: ECA), Canada’s largest natural gas company, has announced it will acquire all shares and assume the senior notes of Fort Worth’s Athlon Energy (ticker: ATHL) in a US$7.1 billion cash offer, which Encana says is immediately accretive to cash flow per share. Under the terms of the merger agreement, Athlon shareholders will receive

Cabot Oil & Gas Increases Stake in Eagle Ford, Adds Tenth Rig to Its Fleet

September 24, 2014

Cabot Oil & Gas (ticker: COG) is the second-largest producer by volume in the Marcellus Shale, but the E&P continues to dial up operations in another prolific shale play: the Eagle Ford. On September 24, 2014, Cabot announced the acquisition of 30,000 net acres in the Eagle Ford – 17,000 of which are near the company’s Buckhorn operating area. The

MLPs are All the Rage in Growing Oil & Gas Industry

August 11, 2014

Rice Energy (ticker: RICE) announced the intent to form a master limited partnership (MLP) prior to its Q2’14 earnings release on August 11, 2014. The announcement comes less than seven months after Rice closed its initial public offering in January 2014. The MLP offering is expected to consist of the company’s Pennsylvania gas gathering assets and will likely close in

Energy XXI’s Pro Forma Platform for Growth

June 5, 2014

Energy XXI (ticker: EXXI) is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The company finalized the acquisition of EPL Oil & Gas on June 3, 2014, and is now the largest independent operating in the Gulf of Mexico with ownership of ten separate fields (nearly

Sanchez Energy Doubles Eagle Ford Asset Base in $639 Million Transaction

May 22, 2014

Sanchez Energy Corporation (ticker: SN), based in Houston, Texas, announced a landmark acquisition in its Eagle Ford focus area on May 21, 2014. Sanchez will acquire 106,000 contiguous net acres in the Dimmit, LaSalle and Webb Counties of Texas from Royal Dutch Shell (ticker: RDS.B) for $639 million. The region, which is comprised of acreage Sanchez has named “Catarina,” produced

Rosetta Resources Acquires Permian Assets from Comstock Resources

March 15, 2013

Rosetta Resources Inc. (ticker: ROSE) today announced it has entered into a definitive agreement to acquire Permian Basin assets from Comstock Resources, Inc. (ticker: CRK) for a purchase price of approximately $768 million, subject to customary closing adjustments. Provides new basin entry in Permian and access to oil-weighted multi-pay areas Adds 40,200 net acres in Delaware Basin delineated Wolfbone play Expands capital

Aurora Oil & Gas Limited: Pure Play Eagle Ford Producer Makes Strategic Acquisition

March 1, 2013

Aurora Oil & Gas Limited (tickers: AEF and AUT) is a Perth and Houston-based oil and liquids company with operations solely in the Eagle Ford shale of South Texas. At year-end 2012, the company exited the year producing approximately 13,850 net BOEPD. The company has 77,000 gross (19,100 net) acres in the “tri-County” area of Karnes, Live Oak and Atascosa.

$20 Billion Acquisition: Freeport-McMoRan to Purchase McMoRan Exploration and Plains Exploration

December 5, 2012

Freeport-McMoRan Copper & Gold Inc. (ticker: FCX), Plains Exploration & Production Company (ticker: PXP) and McMoRan Exploration Co. (ticker: MMR) announced today that they have signed definitive merger agreements under which FCX will acquire PXP for approximately $6.9 billion in cash and stock and FCX will acquire MMR for approximately $3.4 billion in cash, or $2.1 billion net of 36 percent of the

Magnum Hunter Resources Corp Adding to Its Rich Asset Base; Reaffirms 2012 Production Exit Rate

October 26, 2012

Magnum Hunter Resources Corp (ticker: MHR) announced it will acquire Viking International Resources, a private company with approximately 51,500 net acres primarily in the Marcellus and Utica plays, for $106.7 million. The deal will be funded with $37.3 million in cash and $69.4 million in convertible preferred stock. The preferred stock will pay an annual dividend of 8% and will

Petronas/Progress Energy Deal Blocked – A Roundup of Coverage

October 22, 2012

Canada blocks Petronas’ bid for Progress Energy – AP TORONTO — Canada has blocked the Malaysian state-owned oil firm Petronas’ US$5.2 billion (CA$5.17 billion) bid for gas producer Progress Energy Resources, saying the proposed investment would not provide a net benefit to Canada. Federal Industry Minister Christian Paradis did not explain his decision in a statement released just before midnight

Gulf of Mexico M&A Surging

September 18, 2012

According to Credit Suisse’s September 2012 research report titled “Oil: Fundamentals & US Oil Production Outlook,” U.S. Gulf of Mexico (GOM) production could increase by 700,000 barrels per day between 2012 and 2018. Super majors have long since realized the future oil potential within the Gulf of Mexico. The long lead times and huge amount of capital required to drill

PXP Goes Deep Purchasing $6.1 Billion of Gulf of Mexico Producing Properties

September 10, 2012

In two separate transactions, Plains Exploration and Production (ticker: PXP) purchased approximately 67,000 BOEPD (combined 84% oil and NGLs) of Gulf of Mexico production for $6.1 billion. The largest chunk, 59,500 BOEPD, was purchased for $5.5 billion from BP (ticker: BP). The remaining 7,400 BOEPD was purchased from Shell (ticker: RDS.B) for $560 million. PXP News Release BP News Release

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