Latest M&A News

Athabasca sells stake in oil sands project to partner PetroChina

Apr 18, 2014

Athasbasca Oil Corp has exercised an option to sell its 40% stake in the planned Dover oil sands project to its partner PetroChina Co. for C$1.32 billion ($1.20 billion) after the project received final approvals from the government of Alberta, Canada.

Corlena Oil II to sell horizontal Texas Panhandle properties

Apr 18, 2014

Corlena Oil Company II LLC has retained E-Spectrum Advisors LLC to sell its properties targeting the Cleveland, Granite Wash, and Douglas play in Hemphill and Ochiltree counties, Texas.

Armada closes acquisition of Kansas assets

Apr 18, 2014

Armada Oil Inc. reports that, as a part of its asset reallocation strategy, the company recently completed the acquisition of 100% working interest in six producing oil and gas leases covering approximately 1,040 acres in the Vernon field in Woodson County, Kansas.

Saipem awarded FPSO contracts in Angola

Apr 18, 2014

Total has awarded Saipem two contracts in Angola for a combined total of more than $4 billion.

TXON Partners to sell North Texas oil properties

Apr 17, 2014

TXON Partners LLC has retained E-Spectrum Advisors, an affiliate of Energy Spectrum Advisors Inc., to sell certain operated oil properties in North Texas.

Lukoil optimizes hydrocarbon asset portfolio in Kazakhstan

Apr 17, 2014

Lukoil has signed a purchase and sale agreement that allows the company to sell its 50% stake in the Caspian Investment Resources Ltd. to China’s Sinopec.

Pioneer closes sale of Alaska subsidiary to Caelus Energy Alaska

Apr 17, 2014

Pioneer Natural Resources Co. has closed the sale of its Alaska subsidiary to Caelus Energy Alaska LLC for cash proceeds of $300 million.

Flotek updates on senior appointment, acquisition

Apr 17, 2014

Flotek Industries Inc. has appointed Amerr Mahgoub as vice president of Middle East business development, and has also closed its acquisition of SiteLark LLC.

TÜV Rheinland acquires Risktec Solutions and OpenSky

Apr 16, 2014

TÜV Rheinland has acquired Risktec Solutions Ltd. and OpenSky Corp. to expand its services to the oil and gas and nuclear industries.

Total to develop ultra-deep Kaombo project in Angola

Apr 15, 2014

Total and its joint venture partners have made the final investment decision to develop the ultra-deep offshore Kaombo project in Angola. With a production capacity of 230,000 barrels per day, Kaombo will develop estimated reserves of 650 million barrels.

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Monthly Update

In the largest transaction from January 17 to February 16, Calgary-based Baytex Energy Corp. announced a $2.3 billion deal with Australian-listed Aurora Oil & Gas to capture a prized Eagle Ford position. On the conventional side, Occidental's $1.4 billion sale of its famous Kansas Hugoton field demonstrates the shifting nature of Big Oil's portfolios toward unconventional oil growth areas while some companies continue to buy long-lived gas.

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