Post Tagged with: "M&A"

Today’s Deadline Tells the Tale for the Williams Companies, Energy Transfer Merger

Today’s Deadline Tells the Tale for the Williams Companies, Energy Transfer Merger

Update: Energy Transfer wins court ruling in Williams Companies merger

A Delaware judge ruled on Friday that Energy Transfer Equity LP can escape a proposed merger with Williams Companies over tax fears. Williams had suggested the fears over an unexpected …

Birchcliff Energy Expands Core Acreage by 54,000 Net Acres with $625 Million Acquisition

Birchcliff Energy Expands Core Acreage by 54,000 Net Acres with $625 Million Acquisition

Birchcliff Energy creates a contiguous core asset base with purchase from Encana

Birchcliff Energy (ticker: BIR) announced that it will purchase all of Encana Corporation’s (ticker: ECA) Gordondale area, creating one contiguous block of assets in Birchcliff’s primary focus area …

What will Happen to Freeport-McMoRan’s Oil & Gas Assets without Jim Flores?

What will Happen to Freeport-McMoRan’s Oil & Gas Assets without Jim Flores?

“Having this kind of debt is a killer”: FCX’s CEO Adkerson – Q1’16 conference call

Mining giant Freeport-McMoRan (ticker: FCX) is known internationally as the world’s largest copper miner—one that would be happy right now if it can sell its …

Halliburton and Baker Hughes’ $35 Billion Merger is Dead

Halliburton and Baker Hughes’ $35 Billion Merger is Dead

Halliburton and Baker Hughes decide to terminate merger

The world’s second- and third-largest oilfield service companies, Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI), announced the termination of their proposed merger agreement. The deal, which was worth $35 billion before …

American Midstream Partners Expands Gulf of Mexico Footprint with $225 Million Acquisition

American Midstream Partners Expands Gulf of Mexico Footprint with $225 Million Acquisition

DENVER–(BUSINESS WIRE)– American Midstream Partners, LP (NYSE: AMID) (the “Partnership”) today announced the acquisition of interests in strategic Gulf of Mexico midstream infrastructure and incremental ownership in Delta House for total consideration of approximately $225 million.

Oil & Gas 360 American Midstream acquisition

Highlights include:

  • The Partnership
Chevron Looking for Buyer for $1.3 Billion in Non-Core Assets

Chevron Looking for Buyer for $1.3 Billion in Non-Core Assets

Chevron’s sale would be the largest M&A transaction in the history of Myanmar

U.S. oil and gas major Chevron (ticker: CVX) hopes to sell its gas block stake in Myanmar for an estimated $1.3 billion, according to reports from Reuters

$37.7 Billion Energy Transfer Equity Merger Sours

$37.7 Billion Energy Transfer Equity Merger Sours

Williams Companies claim Energy Transfer Equity is breaching their merger agreement

Williams Companies (ticker: WMB) is suing Energy Transfer Equity (ticker: ETE) for breaching their merger agreement. In September of last year, ETE offered to acquire Williams for total consideration …

Schlumberger Clears Final Hurdle in $14.8 Billion Cameron Merger

Schlumberger Clears Final Hurdle in $14.8 Billion Cameron Merger

Schlumberger receives go-ahead from Chinese Ministry of Commerce

The world’s largest oilfield service company, Schlumberger Limited (ticker: SLB) jointly announced with Cameron International Corporation (ticker: CAM) today that the Chinese Ministry of Commerce (MOFCOM) cleared their proposed merger, which …

TransCanada Pays $13 Billion for 15,000 Miles of Marcellus/Utica Pipeline Assets

TransCanada Pays $13 Billion for 15,000 Miles of Marcellus/Utica Pipeline Assets

TransCanada purchases Columbia Pipeline Group for $10.2 billion plus assumption of debt

After years of regulatory limbo to get its Keystone XL pipeline resulted in nothing, TransCanada (ticker: TRP, TransCanada.com) found a new way to continue expanding its North …

Oil Companies Are Too Encumbered by Debt to Acquire: Tillerson

Oil Companies Are Too Encumbered by Debt to Acquire: Tillerson

Very few attractive targets for takeover due to debt; doing deals has gotten harder, not easier

The amount of debt oil and gas companies took on to fuel growth during the shale revolution has made them too encumbered to be …

Source: Royal Dutch Shell

Shell Expects $70 Billion Merger with BG to be Effective by February 15

The High Court of Justice of England and Wales Sanctions Shell and BG merger

A press release from Royal Dutch Shell (ticker: RDSA, Shell.com) today announced that the company has received permission to complete its $70 billion purchase of

Fortis Inc. Increases Utility Rate Base to $18 Billion with $11.3 Billion Acquisition

Fortis Inc. Increases Utility Rate Base to $18 Billion with $11.3 Billion Acquisition

Canada’s Fortis acquires largest independent pure-play electric transmission company in the U.S.

Fortis Inc. (ticker: FTS, FortisINC.com) announced today that it will acquire ITC Holdings Corp. for total consideration of $11.3 billion. Under the terms of the deal, ITC …

Source: XOM

Oil and Gas M&A Down in 2015, but Deals are in Sight

M&A at lowest level in a decade despite megadeals

Many in the oil and gas industry adopted a “wait and see” mentality following the crash in oil prices in November 2014, and mergers and acquisitions in the industry hit the …

Source: XOM

M&A Deal Value Down 23.8% in Oil and Gas, Up 55.1% in Overall U.S. M&A

Lower commodity prices reduce size and volume of energy M&A in 2015

Lower prices for crude oil and natural gas reduced the average deal size and the volume of mergers and acquisitions in the oil and gas industry in 2015. …

TRC Completes $130 Million Acquisition of Willbros Professional Services

TRC Completes $130 Million Acquisition of Willbros Professional Services

Majority of the proceeds will be used to pay down Willbros debt

TRC Companies (ticker: TRR), an engineering, environmental consulting and construction management service company, announced yesterday that it has completed its acquisition of the Professional Services business segment of …

Energy Transfer Partners Completes Dropdown of Remaining Retail Business for $2.2 Billion

Energy Transfer Partners Completes Dropdown of Remaining Retail Business for $2.2 Billion

Latest dropdown brings total transactions to $5.7 billion in just over a year

Energy Transfer Partners (ticker: ETP) announced the dropdown of its remaining retail business to Sunoco LP (ticker: SUN) for total consideration of $2.226 billion. Energy Transfer Partners’ …

Anadarko Retracts its Offer for Apache

Anadarko Retracts its Offer for Apache

Signs point to Anadarko offer coming in well below what Apache would consider

Anadarko Petroleum Corp. (ticker: APC) announced today that it will retract its unsolicited offer for an all-stock purchase of Apache Corp. (ticker: APA). Anadarko Chairman, President and …

Source: Energy.gov

Duke Energy Acquires Piedmont for Total Consideration of $6.7 Billion

Duke gains 1 million new customers in Piedmont acquisition

North Carolina based Duke Energy (ticker: DUK) announced that it will acquire Piedmont Natural Gas (ticker: PDM) for $4.9 billion in cash, and assume Piedmont’s $1.8 billion in debt, for total …

October 26, 2015 - 3:33 pm Mergers & Acquisitions, Oil and Gas 360 Articles
Exelon Moving Forward with $6.8 Billion Merger

Exelon Moving Forward with $6.8 Billion Merger

Combined Exelon, Pepco utility will have the largest customer base in the U.S.

Support from District of Columbia Mayor Muriel Bowser for the merger of Exelon (ticker: EXC) and Pepco Holding Inc. (ticker: POM) utilities may push the $6.8 billion …

October 21, 2015 - 12:24 pm Mergers & Acquisitions, Oil and Gas 360 Articles
ORLEN Upstream Acquires US$393 Million in Assets in Canada, Poland

ORLEN Upstream Acquires US$393 Million in Assets in Canada, Poland

Warsaw-based ORLEN announces two acquisitions

ORLEN Upstream, a Warsaw, Poland, based subsidiary of PKN ORLEN SA (ticker: PKN), which trades on the Warsaw Stock Exchange, announced two separate acquisitions today for assets in Canada and Poland. The deals included the …

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

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

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. …

Source: WPX

Vanguard Natural Resources Closing in on $1.1 Billion in Acquisitions

Vanguard closes on LRR Energy for $541 million

Vanguard Natural Resources (ticker: VNR) announced today the closing of the previously announced deal to acquire LRR Energy. According to the company’s press release, a subsidiary of Vanguard merged into LRR …

October 7, 2015 - 5:47 pm Mergers & Acquisitions, MLPs, Oil and Gas 360 Articles
EnLink Completes Acquisition

EnLink Completes Acquisition

EnLink Midstream Completes Acquisition of Delaware Basin Assets

DALLAS–(BUSINESS WIRE)–The EnLink Midstream companies, EnLink Midstream Partners, LP (NYSE:ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE:ENLC) (the General Partner) (together with its subsidiaries “EnLink”), today announced that a subsidiary …

October 2, 2015 - 5:22 pm Mergers & Acquisitions, Midstream, MLPs
Schlumberger Approaches Deadline on $1.7 Billion Russian Acquisition

Schlumberger Approaches Deadline on $1.7 Billion Russian Acquisition

Schlumberger waits for approval from Russia’s Federal Antimonopoly Service

Oilfield service giant Schlumberger (ticker: SLB) is quickly approaching the most recent deadline for the acquisition of Russian oilfield service company Eurasia Drilling Company (ticker: EDC). The deal was originally announced …

ExxonMobil Increases Position in the Permian with 48,000 Acre Acquisition

ExxonMobil Increases Position in the Permian with 48,000 Acre Acquisition

ExxonMobil executes two deals for Permian acreage

ExxonMobil (ticker: XOM) announced that it has acquired 48,000 acres in the core of the Midland Basin through the execution of two agreements. The agreements include an acquisition and farm-in adjoining XOM subsidiary …

Eagle Energy Trust Acquires Alberta Position for $30 Million

Eagle Energy Trust Acquires Alberta Position for $30 Million

Eagle Energy Trust Announces Strategic Alberta Acquisition in the Twining Field

Eagle Energy Trust (“Eagle“) (TSX:EGL.UN) is pleased to announce that it has entered into an agreement with a private company (“Privateco“) for the acquisition by

July 23, 2015 - 4:31 pm Canada, Mergers & Acquisitions
Shell-BG Merger Accounts for 73% of Q2 M&A

Shell-BG Merger Accounts for 73% of Q2 M&A

M&A activity down in terms of volume, but Shell-BG megadeal pushes overall dollar value up

The second quarter of 2015 showed the largest amount of activity in mergers and acquisitions (M&A) in the oil and gas sector by value since …

July 22, 2015 - 1:28 pm Mergers & Acquisitions, Oil and Gas 360 Articles
Energy Transfer Partners Announces $1.94 Billion Dropdown

Energy Transfer Partners Announces $1.94 Billion Dropdown

Energy Transfer Partners Moves Susser Holdings to Sunoco LP

Energy Transfer Partners (ticker: ETP) announced that it plans a 100% dropdown of Susser Holdings Corp. (SHC) for approximately $1.94 billion to its subsidiary Sunoco LP (ticker: SUN). In addition, there …

July 15, 2015 - 6:33 pm Mergers & Acquisitions, MLPs, Oil and Gas 360 Articles
Oil & Gas 360 Energy News

Arc Logistics Enters Weld County Midstream with $76.6 Million Acquisition

Pawnee Terminal offers connection into Pony Express Pipeline to CushingArc Pawnee Terminal

Arc Logistics (ticker: ARCX) announced today the $76.6 million acquisition of all the limited liability company interest of UET Midstream from United Energy Trading and Hawkeye Midstream. The consideration for …

Halliburton and Baker Hughes Agree to Extend DOJ Review in $34.6 Billion Merger Deal

Halliburton and Baker Hughes Agree to Extend DOJ Review in $34.6 Billion Merger Deal

Department of Justice given until November 25 to review Halliburton and Baker Hughes merger

Oilfield service giants Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) announced today that they have entered into a timing agreement with the Antitrust Division of …