Deal Monitor Monthly Update

The monthly updates are brought to you in collaboration with PLS Inc. The tables below include relevant information about oil and gas industry transactions mostly in the United States. Transactions are broken down by the months in which they were announced. Access monthly pdf links, or download an Excel file of transactions Year-to-Date. 

2012

2011

2010

March Highlights:

The largest oil and gas deal to take place during the 30-day period between mid-January and mid-February was Mitsubishi Corp.'s C$2.9 billion offer for a 40% interest in Encana Corp.'s Cutbank Ridge Partnership. The Partnership holds about 409,000 net acres of Encana's undeveloped Montney formation natural gas lands in northeast British Columbia.

The deal fills the void left last year after a $5.4 billion deal by PetroChina to acquire a 50% interest in Encana's Montney shale play asset fell through following a breakdown on terms. The new deal is different in that Mitsubishi will be acquiring a 40% interest in just a portion of the undeveloped acreage, containing 409,000 acres and no production, for C$2.9 billion.

In another large deal, Apache Corp. agreed to acquire Cordillera Energy Partners III LLC, a privately held company with substantial operations that include approximately 254,000 net acrea in the Granite Wash, Tonkawa, Cleveland and Marmaton plays in western Oklahoma and the Texas Panhandle, for $2.85 billion.

The sellsers, including EnCap Investments, other institutional investors and Cordillera management will receive nearly $600 million in Apache common stock sucbject to customary lock-up provisions. The balance of the consideration, $2.25 billion, will be funded with debt.

Read more about these and other transactions during the 30-day period by clicking the links below.

Table of Articles and Reports:

Article with Highlights Transaction Details
Encana's C$2.9B Cutbank Ridge deal dominates, March 2012 Select Transactions 1/19/12 - 2/17/12
Foreign buyers, unconventional assets dominate deals, Feb. 2012 Select Transactions 12/16/11 - 1/15/12
Large deals dominate the M&A space this month, Jan. 2012 Select Transactions 11/16/11 - 12/15/11
Bakken, Barnett assets take center stage, Dec. 2011
Select Transactions 10/16/11 - 11/15/11
UK, Canadian assets command month's largest sums, Nov., 2011 Select Transactions 9/16/11 - 10/15/11
Valleres' $2B move for Kurdistan assets is month's largest, Oct1, 2011 Select Transactions 8/16/11 - 9/15/11
Chinese increase state in global upstream assets, Sept1, 2011 Select Transactions 7/16/11 - 8/15/11
BHP Billiton-Petrohawk deal is month's largest, August 1, 2011
Select Transactions 6/16/11 - 7/15/11
Surgutneftegas and MOL in $2.7 billion deal, July 1, 2011 Select Transactions 5/16/11 - 6/15/11
Crew acquires Caltex; WestFire and Orion merge, June 1, 2011 Select Transactions 4/16/11 - 5/15/11
KNOC acquirer of two largest deals, May 1, 2011 Select Transactions 3/16/11 - 4/15/11
Total and BHP Billiton in separate deals, April 1, 2011 Select Transactions 2/16/11 - 3/15/11
Chinese companies on shopping spree, March 1, 2011 Select Transactions 1/16/11 - 2/15/11
$1.7B oil sands deal is month's largest, February 1, 2011 Select Transactions 12/16/10 - 1/15/11
$7.1B BP-Bridas deal is month's largest, January 1, 2011 Select Transactions 11/16/10 - 12/15/10
US transactions rise in past month, December 1, 2010  Select Transactions 10/16/10 - 11/15/10
M&A activity snail-like, but picks up in October, November 1, 2010 Select Transactions 9/16/10 - 10/15/10
LINN's Permian Basin deal is month's largest, October 1, 2010 Select Transactions 8/15/10 - 9/15/10
BP-Apache's $7 billion deal is month's largest September 1, 2010 Select Transactions 7/15/10 - 8/15/10
Reliance-Pioneer deal is month's largest August 1, 2010 Select Transactions 6/15/10 - 7/15/10
Shell-East Resources deal valued at nearly $5B, July 1, 2010 Select Transactions 5/15/10 - 6/15/10
Joint ventures highlight month's top deals, June 1, 2010 Select Transactions 4/15/10 - 5/15/10
Apache deals increase GoM presence, May 1, 2010 Select Transactions 3/15/10 - 4/15/10
Devon–BP, CNOOC–Bridas top month's deals, April 1, 2010 Select Transactions 2/15/10 - 3/15/10
International M&A Deals start to take off, March 1, 2010 Select Transactions 1/15/10 - 2/15/10

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