Post Tagged with: "Divestiture"

Shell finalizes sale of Martinez Refinery

Shell finalizes sale of Martinez Refinery

Shell finalizes sale of Martinez Refinery

BP Divests Alaska for $5.6 Billion

BP Divests Alaska for $5.6 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360

BP sells its entire Alaskan business to Hilcorp for a total consideration of $5.6 billion
BP (stock ticker: BP), through its subsidiary BP Alaska, has agreed to sell its entire business

Source: Abraxas Petroleum

Saltstone Capital Pens Scathing Letter to Abraxas Petroleum

By Tyler Losier, Energy Reporter, Oil & Gas 360

Saltstone Capital Management calls for special committee of the board to review strategic alternatives
Billy Bailey, founder and portfolio manager for Saltstone Capital Management LLC, penned a scathing letter to Abraxas

Source: NGL Energy Partners

NGL Energy Partners Makes $300 Million Divestiture

By Tyler Losier, Energy Reporter, Oil & Gas 360

NGL Energy Partners sells TransMontaigne Product Services for $300 million
NGL Energy Partners LP (stock ticker: NGL), a vertically integrated midstream company, has signed a definitive agreement to sell TransMontaigne Product

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

From Reuters


Brazil’s Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part …

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

Alliance Resource Partners Completes Acquisition of Permian Mineral Interests

By Tyler Losier, Energy Reporter, Oil & Gas 360

Alliance Resource Partners Acquires $145 million worth of Permian mineral interests from Wing Resources
Alliance Resource Partners L.P. (stock ticker: ARLP), a diversified natural resource company based in Tulsa, Oklahoma, has

Icahn Enterprises Completes Sale of Brazilian Resource Company

Icahn Enterprises Completes Sale of Brazilian Resource Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

Icahn Enterprises closes sale of Ferrous Resources to Vale S.A. for $550 million
Icahn Enterprises L.P. (stock ticker: IEP), a conglomerate company owned by American investor Carl Icahn, has closed on

Source: CSV Midstream Solutions

Paramount Resources Closes Sale of Karr 6-18 Nat Gas Facility

By Tyler Losier, Energy Reporter, Oil & Gas 360

Paramount Resources completes divestiture of its Karr 6-18 facility to CSV Midstream Solutions
Paramount Resources Limited, a liquids-focused independent E&P based in Calgary, has completed the sale of its Karr 6-18

Photo by Mike Goldwater"

UGI Subsidiary Closes on Columbia Midstream Deal

By Tyler Losier, Energy Reporter, Oil & Gas 360

UGI Energy Services completes acquisition of TC Energy subsidiary Columbia Midstream
UGI Energy Services LLC, a subsidiary of UGI Corporation (stock ticker: UGI), has completed its previously announced acquisition of the

Source: Royal Dutch Shell

Shell Invests in New Deep-Water Gulf of Mexico Project, Sells Assets to Equinor and Noreco

By Tyler Losier, Energy Reporter, Oil & Gas 360

Shell Offshore Inc. makes final investment decision for PowerNap deep-water project in U.S. Gulf
Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc (stock ticker: RDS-A, RDS-B), has reached a

Source: Lagoon Water Solutions

Continental Resources Divests STACK Water Handling Facility

By Tyler Losier, Energy Reporter, Oil & Gas 360

Continental Resources sells STACK water handling facility to Lagoon Water Solutions for $85 million
Continental Resources (stock ticker: CLR), an Oklahoma City-based independent E&P, is selling its eastern STACK water gathering

Harvest Oil & Gas Divests Barnett Shale

Harvest Oil & Gas Divests Barnett Shale

By Tyler Losier, Energy Reporter, Oil & Gas 360

Harvest Oil & Gas sells Barnett shale assets for $72 million
Harvest Oil & Gas Corporation (stock ticker: HRST), formerly EV Energy Partners L.P., has entered into a definitive agreement with

Source: Encana

Encana Moving $165 Million Cash from Divestiture to its Balance Sheet

By Tyler Losier, Energy Reporter, Oil & Gas 360

Encana sells Newfield Arkoma Basin natural gas assets
Encana Corporation (stock ticker: ECA), a Canadian-based company with unconventional assets in multiple North American basins, has agreed to sell its natural gas

EnCap-Backed PetroLegacy Snags 20,000 Midland Acres from Pioneer

Callon Petroleum Closes $245 Million Southern Midland Basin Sale

Callon Petroleum Company Announces Closing Of Southern Midland Basin Divestiture And Updates 2019 Guidance

Source: Canadian Natural Resources

Devon Energy Sells Canada for $2.8 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360

Devon looks to focus on oil-based growth in U.S., departs Canada
Canadian Natural Resources Limited (stock ticker: CNQ) inked a deal this Wednesday to acquire Devon Energy Corp.’s (stock ticker: DVN)

Flotek Completes $175 Million Florida Chemical Sale

Flotek Completes $175 Million Florida Chemical Sale

Flotek Industries Announces Completion Of Florida Chemical Sale To ADM For $175 Million

March 1, 2019 - 12:35 pm Closing Bell Story‎, Oilfield Services, Press Releases
Marathon Oil will Divest U.K. Business

Marathon Oil will Divest U.K. Business

Marathon Oil Signs Agreement for Divestiture of U.K. Business

Bonanza Creek Divests Cotton Valley Assets, Becomes Wattenberg Pure Play

Bonanza Creek Divests Cotton Valley Assets, Becomes Wattenberg Pure Play

Bonanza Creek Energy (NYSE: BCEI) sold its Mid-Continent assets this week to an undisclosed buyer for $117 million in cash, based on a February 1, 2018 effective date, the company reported.

The divested operations include approximately 11,000 net acres located …

Enbridge Sells U.S. Midstream for $1.1 Billion

Enbridge Sells U.S. Midstream for $1.1 Billion

Enbridge Inc. (ticker: ENB) said its indirect subsidiary, Enbridge (U.S.) Inc., has entered into an agreement to sell Midcoast Operating, L.P. and its subsidiaries to AL Midcoast Holdings, LLC (an affiliate of ArcLight Capital Partners, LLC) for a cash purchase …

Alta Mesa Deal: ARM Energy Sold Kingfisher Midstream to Silver Run II for $1.55 Billion

Alta Mesa Deal: ARM Energy Sold Kingfisher Midstream to Silver Run II for $1.55 Billion

ARM Energy Holdings LLC said that the company and its partners have sold Kingfisher Midstream, LLC to Silver Run Acquisition Corporation II, in exchange for an aggregate consideration of up to $1.55 billion.

The transaction consideration is comprised of $800 …

SM Energy Sells 112,200 Acres for $500 Million

SM Energy Sells 112,200 Acres for $500 Million

Unloads PRB, increasing concentration on Midland and Eagle Ford

SM Energy Company (ticker: SM) said that it entered into a definitive agreement to sell a majority of the company’s Powder River basin assets for a cash purchase price of $500 …

Carrizo Divests a Portion of Eagle Ford Acreage

Carrizo Divests a Portion of Eagle Ford Acreage

Carrizo Oil & Gas, Inc. (ticker: CRZO) announced today that it entered into an agreement to divest a portion of its assets in the Eagle Ford shale for $245 million in cash.

The divested assets include approximately 24,500 net acres, …

Devon Energy Monetizes Assets, Raises CapEx and Production Guidance

Devon Energy Monetizes Assets, Raises CapEx and Production Guidance

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 …

Supermajors Selling Billions in Assets to Offset Oil Downturn

Supermajors Selling Billions in Assets to Offset Oil Downturn

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

Whiting Petroleum Pads Balance Sheet with $75 Million Sale of Niobrara Water Business

Whiting Petroleum Pads Balance Sheet with $75 Million Sale of Niobrara Water Business

Gas Plant Sales on the Horizon?

Whiting Petroleum (ticker: WLL), a Denver-based exploration and production company with operations focused on the Bakken Shale and Denver Julesburg Basin, has closed on the sale of its DJ water business for $75 million. …

Interested in Acquiring STACK Acreage? Range Resources is Listening.

Interested in Acquiring STACK Acreage? Range Resources is Listening.

RRC Takes Next Step in Divestiture Plan

Less than one month after selling its Nora assets in Virginia for $876 million, Range Resources (ticker: RRC) has another attractive piece of acreage on the block.

The Fort Worth-based E&P is marketing …

Resolute Energy Enhances Balance Sheet with $177.5 Million Non-core Asset Sale

Resolute Energy Enhances Balance Sheet with $177.5 Million Non-core Asset Sale

2015 Asset Sales to Date Reach $275 Million

Resolute Energy (ticker: REN) has agreed to sell its Gardendale assets for $177.5 million, concluding a “limited marketing process” that began in late September. The buyer was not named.

The company has …

Petrobras Moving Forward with $58 Billion in Asset Sales

Petrobras Moving Forward with $58 Billion in Asset Sales

Union strike costing Brazil $25 million lost revenue per day: Reuters

Management of Petrobras (ticker: PBR) indicates there are no changes in its plan to sell $15 billion in assets by year-end 2016, despite a union strike that is restricting …

Resolute Energy Divests Hilight Field for $55 Million, Solidifies Balance Sheet

Resolute Energy Divests Hilight Field for $55 Million, Solidifies Balance Sheet

Resolute Energy Corporation (ticker: REN), an exploration and production company based in Denver, Colorado, took a step to enhance its liquidity by selling its Hilight Field asset for $55 million.

The divesture, announced on September 16, 2015, is intended …

Chesapeake Energy Erases Dividend, Sells Non-Core Properties in Cost-Cutting Moves

Chesapeake Energy Erases Dividend, Sells Non-Core Properties in Cost-Cutting Moves

Chesapeake Energy (ticker: CHK), the second largest producer of natural gas in the United States, altered its financial strategy via a company news release on July 21, 2015. The announcement included a handful of cash-saving moves, ranging from internal budget …