URS Corp. and Flint Energy Services Ltd. have entered a definitive agreement under which URS will acquire Flint for C$1.25 billion.

Energen Resources, the oil and gas exploration and production subsidiary of Energen Corp., signed a purchase and sale agreement to buy a primarily proved undeveloped Wolfberry package from a private seller for $65.8 million plus standard closing adjustments.

In Mitsubishi, Encana has found a partner to fill the void left last year by PetroChina in its Cutbank Ridge asset, after the previous deal stumbled over a failure to agree on certain terms in the transaction.

Triad Hunter LLC, a wholly-owned subsidiary of Houston-based independent energy company Magnum Hunter Resources Corp., has closed on the acquisition of leasehold mineral interests located predominately in Noble County, Ohio from an undisclosed seller for a total purchase price of $24.8 million.

Houston-based integrated energy company ConocoPhillips has entered into an agreement to sell its Vietnam business unit to a subsidiary of Perenco for a total of $1.29 billion plus customary working capital adjustments. 

AIM-listed oil and gas production company Magnolia Petroleum Plc has acquired a 100% interest in 800 acres in the oil producing Mississippi Lime formation, Oklahoma and minority interests in leases over a further 284 net acres.

Global NuTech Inc., dba Texas Gulf Energy Inc., has acquired 100% of the equity interests of Texas-based Fishbone Solutions Ltd.

Sinochem made the largest deal of the week by acquiring TEPMA BV from Total in a transaction that may have been worth $440 million.

Following a rise in popularity in the oil and gas upstream sector in 2010, joint venture agreements played a dominant role as a source of low cost funding in 2011—with unconventional resources drawing the most attention, noted analyst at Stifel Nicolaus.