•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Large deals dominate the M&A space this month

    The largest deal of the 30-day period from mid-November to mid-December came as an investor group consisting of Kohlberg Kravis Roberts & Co. LP (KKR), Natural Gas Partners (NGP), Crestview Partners and Itochu Corp., signed a definitive agreement to acquire Samson Investment Co., one of the largest private exploration and production companies in the US, for $7.2 billion. Read more about the deal in this issue's cover article starting on p.18. The second-largest deal involving US-based assets was announced on November 30. Korean companies Samsung C&T and KNOC invested heavily in North America with the joint acquisition (KNOC 90%, Samsung 10%) of Parallel Petroleum Corp. from Apollo Global Management. "Although the financial terms of the deal were not disclosed by either party, it has been reported by the press that the value may be as much as $780 million," noted Evaluate Energy analyst Eoin Coyne in his OGFJ Weekly Update.

    The largest deal involving non-US assets came December 14 at the hands of state-owned KazMunaiGas. In Kazakhstan, the company acquired a 10% interest in the giant Karachagamak field. The four partners in the field, BG, ENI, Lukoil and Chevron, will all contribute a portion of this 10% respective to their own interests, and gain between them $3 billion before tax. The partners must pay $1 billion in taxes and provide a $1 billion loan to the Kazakh NOC which is to be repaid over three years from KazMunaiGas' share of the field's production. The deal gives the Kazakh government influence in the only major project within its borders in which it did not already own a stake.

    Centrica added to its assets via a $1.5 billion deal with Statoil. The move will increase Centrica's production by 25% and will include interests in four producing assets, including the Kvitebjorn field and four discoveries in the Norwegian sector of the North Sea. The assets are weighted 70% gas and the acquisition metrics equate to $13.33 per proven and probable boe and $46,000 per flowing boe of production.

    PLS Energy - Deal Monitor

    More Oil & Gas Financial Journal Current Issue Articles
    More Oil & Gas Financial Journal Archives Issue Articles
    View Oil and Gas Articles on PennEnergy.com

    Did You Like This Article?

    Get a free subscription to Oil & Gas Financial Journal.

    Related Articles

    Chevron reports senior leadership changes

    10/06/2014 Chevron Corp. reports that Rhonda I. Zygocki, executive vice president of policy and planning, will retire from the company after 34 years of outstanding service, effective Feb. 1, 2015. The compan...

    Chevron reports sale, JV for Duvernay shale assets with KUFPEC

    10/06/2014 Chevron Corp. reports that its indirect, wholly owned subsidiary, Chevron Canada Ltd., has reached agreement to sell a 30% interest in its Duvernay shale play in Canada to Kuwait Foreign Petroleum ...

    KrisEnergy takes over as operator for offshore Cambodia block

    10/02/2014 KrisEnergy is officially the operator of Cambodia’s offshore Block A, following the Sept. 17 receipt of acknowledgement from the Royal Government of the Kingdom of Cambodia for the change of contro...

    EnLink Midstream to acquire Gulf Coast NG pipeline systems

    09/30/2014 The EnLink Midstream companies, EnLink Midstream Partners LP and EnLink Midstream LLC, report that a subsidiary of the Partnership has signed a definitive agreement with Chevron Pipe Line Co. ...

    Boardwalk to acquire Evangeline pipeline system

    09/05/2014 Boardwalk Pipeline Partners LP has entered into a definitive agreement with Chevron Pipe Line Co. to acquire Chevron Petrochemical Pipeline LLC, which owns the Evangeline ethylene pipeline system, ...

    More Oil & Gas Financial Articles

    Chevron reports senior leadership changes

    Mon, Oct 6, 2014

    Chevron Corp. reports that Rhonda I. Zygocki, executive vice president of policy and planning, will retire from the company after 34 years of outstanding service, effective Feb. 1, 2015. The company also said it is making new reporting assignments for several executives.

    Chevron reports sale, JV for Duvernay shale assets with KUFPEC

    Mon, Oct 6, 2014

    Chevron Corp. reports that its indirect, wholly owned subsidiary, Chevron Canada Ltd., has reached agreement to sell a 30% interest in its Duvernay shale play in Canada to Kuwait Foreign Petroleum Exploration Co.'s wholly owned subsidiary, KUFPEC Canada Inc., for $1.5 billion.

    KrisEnergy takes over as operator for offshore Cambodia block

    Thu, Oct 2, 2014

    KrisEnergy is officially the operator of Cambodia’s offshore Block A, following the Sept. 17 receipt of acknowledgement from the Royal Government of the Kingdom of Cambodia for the change of control. With this government acknowledgement in hand, KrisEnergy has finalized the takeover of Chevron Overseas Petroleum (Cambodia) Ltd.

    EnLink Midstream to acquire Gulf Coast NG pipeline systems

    Tue, Sep 30, 2014

    The EnLink Midstream companies, EnLink Midstream Partners LP and EnLink Midstream LLC, report that a subsidiary of the Partnership has signed a definitive agreement with Chevron Pipe Line Co. and Chevron Midstream Pipelines LLC to acquire Gulf Coast natural gas pipeline assets, including the Bridgeline system, predominantly located in Southern Louisiana for $235 million.

    Boardwalk to acquire Evangeline pipeline system

    Fri, Sep 5, 2014

    Boardwalk Pipeline Partners LP has entered into a definitive agreement with Chevron Pipe Line Co. to acquire Chevron Petrochemical Pipeline LLC, which owns the Evangeline ethylene pipeline system, for $295 million in cash.  

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ