China’s Fortune Oil plc has entered into an agreement with privately held Chinese LNG and natural gas business Everthriving Investment to acquire 65% of the share capital of three of the company’s subsidiaries.

Husky Energy Inc. (TSX: HSE) has signed a purchase agreement to acquire natural gas properties in west central Alberta, which will add to the company's production and reserves and extend the optimum utilization of its Ram River Gas Plant.

On Friday, Schlumberger Ltd. closed its merger with Smith International after Smith shareholders approved the transaction on August 24.

Independent energy company Devon Energy Corp. has completed the sale of its ACG field located offshore Azerbaijan in the Caspian Sea to BP for $2 billion.

Noble Energy Inc. has closed the previously announced sale of certain Mid-Continent and Illinois basin assets to an affiliate of Citation Oil & Gas.

Canada's Suncor Energy Inc. has reached an agreement with Centrica plc subsidiary Direct Energy on the sale of Suncor's natural gas assets in the Wildcat Hills region of Alberta, for a cash consideration of C$375 million.

Along with its second quarter earnings announcement, Midstream energy partnership Regency Energy Partners LP has announced its plan to acquire Zephyr Gas Services, a field services company based in Houston, Texas, for $185 million.

Nabors Industries Inc. will acquire Superior Well Services Inc. for in an all-cash transaction for $22.12 per common share, or $900 million. As Nabors' plan for financing was unannounced, Standard & Poor's places company on Credit Watch with negative implications.

With improved credit markets and buyer-seller expectations finally aligning, coupled with increased CEO confidence and stabilized commodity prices, the US Oil & Gas sector saw a total of 142 announced deals in the second quarter – the highest volume for deals seen since the third quarter of 2008.

Wapiti Oil & Gas LLC has purchased of $130 million in oil and gas exploration and development assets from Delta Petroleum Corp.