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
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. |
Industry Briefs
May 1, 2013
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Foreign buyers prop up M&A activity as private equity pauses during 1Q13
May 1, 2013
PwC US notes that first-quarter deal volume and value increased year over year, and shale deals comprised 46% of total deal volume. |
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. |
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