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Monthly Update

Global upstream deal activity totaled $13.1 billion from Feb. 17 to March 16, bringing the first quarter 2013 tally up to $20.2 billion. Helping drive deal flow are relatively robust commodity prices, which at press time saw front months for WTI at $9.56/bbl and for Brent at $108.17/bbl - compared to $92.27/bbl and $111.11/bbl at December 31, 2012, respectively. In the US, the most notable deal is the $4.3 billion stock-for-stock acquisition of Berry Petroleum by LinnCo LLC, which in turn, will be followed by the acquisition of the Berry assets by Linn Energy LLC.
Read about this deal and others in this month's Deal Monitor.


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Latest Deal Monitor News

GulfStar Group wins award at M&A Advisor Awards ceremony

May 21, 2013

GulfStar Group was named the winner of the Energy Deal of the Year Under $500 million at the 5th Annual International M&A Advisor Awards for the acquisition of Custom Rubber Products by The Flexitallic Group.

 

Rosetta completes acquisition of Permian Basin assets from Comstock

May 15, 2013

Houston, TX-based Rosetta Resources Inc. has closed on the previously announced acquisition of Permian Basin assets from Comstock Resources Inc.

MarkWest acquires Granite Wash assets from Chesapeake Energy

May 9, 2013

MarkWest Energy Partners LP (NYSE: MWE) has agreed to acquire 100% of the ownership interests of certain midstream assets in the Anadarko Basin from a wholly owned subsidiary of Chesapeake Energy Corp. (NYSE: CHK), for $245 million in cash. The transaction closed simultaneously with the execution of the agreements.

Eagle Rock Energy enters natural gas gathering, processing agreement in Texas Panhandle

May 8, 2013

Eagle Rock Energy Partners LP (Nasdaq:EROC) has entered into a new fee-based Gas Gathering, Processing and Purchase Agreement with Monarch Natural Gas LLC, who has offices in Austin, Dallas, and Denver.

Tholen joins Global Energy Group at Crédit Agricole

May 6, 2013

Kirk D. Tholen has joined Crédit Agricole Securities as the group head of the firm’s A&D Advisory platform within the Global Energy Group. 

Opportune acquires Eco Risk Markets

May 1, 2013

Opportune LLP has acquired Eco Risk Markets LLC, an energy consulting firm focused on risk strategy and related valuation services.

Foreign investors play increasing role in US shale development

May 1, 2013

Investors from outside the United States are playing an increasingly vital role in the US tight oil and shale natural gas industry, according to the US Energy Information Administration.

Quicksilver sells 25% interest in Barnett Shale assets to Tokyo Gas for $485 million

May 1, 2013

Fort Worth, Texas-based Quicksilver Resources Inc. [NYSE: KWK] said March 29 that it has agreed to sell an undivided 25% interest in its Barnett Shale oil and gas assets for US$485 million to TG Barnett Resources LP, a wholly-owned US subsidiary of Tokyo Gas Co. Ltd.

Eagle Ford most active shale play for M&A activity 1Q13

May 1, 2013

With three major deals in a month and a half, the Eagle Ford shale formation remains significant in the unconventional resources space.

Norway Anything But Standard

May 1, 2013

The second most valuable industry to the Norwegian economy after oil and gas production is the Norwegian oil service sector. Making a standing start in the 1970s, this sector today generates $63 billion in revenues with 40 percent ($26 billion) of that figure coming from the sale of Norwegian technologies to foreign markets.

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