Deal Monitor News

Greentech Capital advises on largest Chinese investment in US company

Tue, 22 May 2012 17:24:00 GMT

Greentech Capital Advisors served as financial advisor on the largest investment by a Chinese corporation into a venture-capital funded, US-based company. It advised GreatPoint Energy, Inc., a US developer of coal gasification projects, on its $1.25 billion investment from China Wanxiang Holding Co., Ltd., a major China-based industrial conglomerate. The partnership included an investment commitment of over $420 million and a project equity and credit support partnership commitment of $830 million from Wanxiang Holding to GreatPoint Energy.

PDC Energy to acquire Core Wattenberg assets, accelerate Niobrara development

Mon, 14 May 2012 17:21:00 GMT

Denver, Colo.-based Petroleum Development Corp. today announced it has executed a definitive agreement to acquire Core Wattenberg assets that contain significant liquid-rich horizontal drilling opportunities from a private party for a purchase price of approximately $330.6 million. The effective date of the transaction is April 1, 2012 with closing scheduled for June 29, 2012.

CNOOC signs contract with Roc Oil for exploration off Bohai

Fri, 11 May 2012 22:00:00 GMT

Hong Kong-based CNOOC Limited today announced that its parent company, China National Offshore Oil Corp., has signed a production sharing contract (PSC) with Roc Oil (Bohai) Company for Block 09/05 in Bohai.

Malaysian companies generate $7.2B in sales at OTC

Wed, 09 May 2012 18:47:00 GMT

The Malaysia External Trade Development Corp. and the Malaysia Petroleum Resources Corp. made their presence known last week in Houston at OTC 2012. From Booth 11909, dubbed the “Malaysia Pavilion,” representatives of Malaysian oil and gas companies, related agencies and associations reported $7.2 billion in total generated sales during the conference.

Memorial Production closes on East Texas, Louisiana properties

Wed, 02 May 2012 19:14:00 GMT

Memorial Production Partners LP has closed its previously announced acquisition of oil and natural gas properties in East Texas and North Louisiana, from an undisclosed seller, for $37.3 million, subject to customary post-closing adjustments. The acquisition was funded with borrowings under MEMP's existing credit facility. The effective date for this transaction was January 1, 2012.

Lloyd's Register acquires Houston-based WEST Engineering Services

Tue, 01 May 2012 20:48:00 GMT

Effective today, WEST Engineering Services, predominantly experts in subsea systems, will join the Lloyd's Register Group, a global organisation that provides independent assurance and advice to companies operating high-risk, capital-intensive assets in the energy and transportation sectors.

Apache completes Cordillera Energy acquisition

Tue, 01 May 2012 17:34:00 GMT

Houston, Texas-based Apache Corp. today announced it has completed its acquisition of Cordillera Energy Partners III, LLC, a privately held company with operations and acreage across the Granite Wash, Tonkawa, Cleveland and Marmaton plays in western Oklahoma and the Texas Panhandle.

Halcón Resources to acquire GeoResources for $1B

Fri, 27 Apr 2012 16:05:00 GMT

Halcón Resources Corp. and GeoResources, Inc. announced April 25 that they have entered into a definitive merger agreement in which GeoResources will merge into a wholly-owned subsidiary of Halcón Resources in a cash and stock transaction that values GeoResources at approximately $1 billion, based on the closing price of Halcón Resources common stock on April 24.

Kinder Morgan to purchase 50% interest in natural gas JV

Thu, 26 Apr 2012 19:51:00 GMT

Kinder Morgan Energy Partners, LP, announced April 25 that it has signed a definitive agreement with an investment vehicle affiliated with Kohlberg Kravis Roberts & Co. LP, whereby KMP will purchase from KKR its 50 percent interest in the joint venture that owns the Altamont gathering, processing and treating assets (Uinta Basin in Utah) and the Camino Real Gathering System (Eagle Ford shale in Texas) for $300 million in KMP common units.

Element Partners invests in Environmental Drilling Solutions

Thu, 26 Apr 2012 17:58:00 GMT

Element Partners, an energy and industrial technology-focused private equity fund, and CSL Capital Management, an energy-services private equity firm, announced April 23 that, along with North Sky Capital and key members of management, they have acquired Environmental Drilling Solutions.

Valle Silencioso acquires shares from 4D Global Energy

Wed, 25 Apr 2012 18:52:00 GMT

Argentina-based Valle Silencioso SA, a company managed by Sophia Capital, has acquired 50% of the outstanding shares of SO-4 Ltd. from 4D Global Energy Investments Plc.

InterMoor wins mooring contract for wave energy system

Tue, 24 Apr 2012 20:08:00 GMT

Columbia Power has awarded InterMoor, an Acteon company, the contract to design a cost-effective and survivable mooring system for its StingRay offshore wave energy converter prototype.

Scotiabank closes deal to acquire Howard Weil Inc

Wed, 18 Apr 2012 22:50:00 GMT

Toronto-based Scotiabank said April 18 that it has closed the acquisition by Scotia Capital Inc. of Howard Weil Incorporated, a US energy investment boutique with major offices in New Orleans and Houston. Terms of the transaction were not disclosed.

Archer acquires X-it casing exit systems

Fri, 13 Apr 2012 16:52:00 GMT

Archer Ltd. has purchased X-it Energy Services, an Aberdeen-based company that develops and manufactures proprietary single-trip milling systems used for casing exits, including controlled directional, multi-lateral and sidetrack drilling.

Aker Solutions wins surface wellhead contract in Egypt

Thu, 12 Apr 2012 17:11:00 GMT

International oil services group Aker Solutions has signed a two-year frame agreement with Egyptian oil company Badr Petroleum Company (Bapetco).

CNOOC, Eni join hands again in South China Sea

Thu, 12 Apr 2012 16:47:00 GMT

China National Offshore Oil Corp. Ltd.’s parent company, China National Offshore Oil Corp., has signed a production sharing contract with Eni China BV for the deepwater Block 30/27 in South China Sea.

Wilton Engineering secures North Sea project with Subsea 7

Tue, 10 Apr 2012 20:58:00 GMT

Wilton Engineering Services Ltd. has secured a multi-million pound contract with Subsea 7 to fabricate support clamps for work on DONG Energy’s SIRI Caisson Support Project in the Danish sector of the North Sea.

Terra Energy divesting Canadian assets

Tue, 10 Apr 2012 15:45:00 GMT

Terra Energy has engaged Macquarie Tristone and Scotiabank to seek proposals for divesting up to 100% of its share of assets of NorAm Energy Worx Inc.

Atlas Resources, Equal Energy partner to develop Oklahoma Mississippian oil play

Wed, 04 Apr 2012 19:07:00 GMT

Equal Energy Ltd. has agreed to sell 50% of its interest in approximately 14,500 net undeveloped acres prospective for Mississippian light oil to Atlas Resources Partners LP for total cash consideration of roughly US$18 million.

IHS: Worldwide upstream oil, gas M&A unconventional resource spending hits record $75B

Mon, 02 Apr 2012 17:05:00 GMT

Fueled by national oil companies and international buyers making acquisitions in North American shale gas, shale oil and tight oil basins, global transactions involving unconventional oil and gas resources reached a record high $75 billion in 2011, reported IHS.

KKR grows natural gas footprint with third Barnett Shale acquisition

Mon, 02 Apr 2012 15:44:00 GMT

Expanding on recent acquisitions in various unconventional resource plays across the US, energy private equity firm Kohlberg Kravis Roberts & Co. LP (together with its affiliates, KKR) has agreed to acquire certain Barnett Shale and Arkoma Basin properties from WPX Energy for $306 million.

Weekly Update: BP continues asset reshuffle with North Sea sale

Fri, 30 Mar 2012 19:13:00 GMT

BP was involved in the largest E&P deal of the week with a $400 million sale of its Southern Gas assets in the UK North Sea to Perenco.

ZaZa Energy expands in the Texas Eaglebine, begins drilling

Thu, 29 Mar 2012 20:32:00 GMT

ZaZa Energy Corp. has expanded its position in the Eaglebine trend in eastern Texas to a nearly contiguous total holding of approximately 144,123 gross acres through a transaction with a Range Resources subsidiary.

Continental looks to enrich Bakken position with Wheatland acquisition

Wed, 28 Mar 2012 15:18:00 GMT

Continental Resources Inc. is looking to boost its position in the Bakken with the purchase of Enid, Oklahoma-based Wheatland Oil Inc. assets for $340 million.

Perenco pays BP $400M for southern gas assets in UK North Sea

Tue, 27 Mar 2012 17:53:00 GMT

BP has agreed to sell its interests in its southern gas assets (SGA) in the UK North Sea to Perenco UK Ltd for $400 million in cash.

Hupecol Cuerva acquisition marks second in Colombia for GeoPark

Tue, 27 Mar 2012 17:41:00 GMT

With the purchase of Hupecol Cuerva LLC for $75 million in cash, GeoPark Holdings Ltd. has completed its second acquisition in Colombia this year.

Weekly Update: Pengrowth Makes $1.9B move for NAL Energy

Fri, 23 Mar 2012 20:22:00 GMT

In what was the biggest E&P deal of the week, fellow Canadian intermediate producers Pengrowth Energy and NAL Energy combined to form a company which will reportedly be worth $6.6 billion.

Oil companies exiting refining business

Wed, 21 Mar 2012 16:50:00 GMT

ArcLight Capital Partners invests $100M in Magnum Hunter Resources’ midstream segment

Wed, 21 Mar 2012 16:19:00 GMT

Magnum Hunter Resources Corp. has agreed to sell 28% of its midstream segment, Eureka Hunter Holdings LLC, to an affiliate of energy investment firm ArcLight Capital Partners LLC for $100 million.

Weekly Update: INPEX to partner with Shell on world’s first floating LNG project

Fri, 16 Mar 2012 20:02:00 GMT

The major deal of the week was INPEX’s purchase of a 17.5% interest in the Prelude FLNG project offshore Australia from Royal Dutch Shell.

Carrizo to sell certain Barnett Shale assets to Atlas for $190M

Fri, 16 Mar 2012 15:10:00 GMT

Carrizo Oil & Gas Inc. has entered into a definitive agreement to sell a portion of its properties in the Barnett Shale to a subsidiary of Atlas Resource Partners for $190 million in cash.

American Standard acquires Permian Basin, Williston Basin, Eagle Ford assets from private company

Fri, 16 Mar 2012 13:15:00 GMT

On March 5, American Standard Energy Corp. closed and funded its acquisition of roughly 72,300 net acres and approximately 250 barrels of oil equivalent per day of production from privately-held Geronimo Holding Corp.

Kinder Morgan, El Paso merger wins stockholder approval

Fri, 09 Mar 2012 19:44:00 GMT

The deal to merge El Paso Corp. and Kinder Morgan Inc. and create North America's fourth largest company with a combined $94 billion enterprise value is one step closer to completion.

LINN Energy to acquire East Texas assets for $175M

Fri, 09 Mar 2012 18:50:00 GMT

LINN Energy LLC has signed a definitive purchase agreement to acquire properties located in East Texas for a contract price of $175 million, subject to closing conditions.

Weekly Update: Linn Energy makes largest move in quiet week in E&P market

Fri, 09 Mar 2012 17:37:00 GMT

In a subdued week for E&P deals, Linn Energy were the main protagonist for the second week in a row with the largest, albeit at $175 million, a small fraction of the $1.2 billion it had to pay to BP last week to take a position in the Hugoton Basin.

Talisman Energy to sell non-core coal assets for US$500M

Thu, 08 Mar 2012 16:40:00 GMT

Calgary-based Talisman Energy Inc. has agreed to sell certain non-producing, non-core coal properties in Northeast British Columbia to Xstrata Coal for US$500 million in cash.

IHS completes 3 strategic acquisitions

Tue, 06 Mar 2012 20:24:00 GMT

IHS Inc. said March 5 that it has closed three strategic acquisitions: Displaybank, a global authority in market research and consulting for the display industry; the Computer Assisted Product Selection (CAPS) electronic components database and tools business, including CAPS Expert, from PartMiner Worldwide; and the digital oil and gas pipeline and infrastructure information business from Hild Technology Services.

Pioneer buying Carmeuse Industrial Sands

Mon, 05 Mar 2012 21:41:00 GMT

Weekly Update: Linn Energy deal strengthens US portfolio at the expense of its escalating debt level

Fri, 02 Mar 2012 18:38:00 GMT

Linn Energy conducted the largest deal in the oil patch this week by acquiring BP’s Hugoton basin assets in Kansas for $1.2 billion.

TransAtlantic Petroleum to sell oilfield services business for $164M

Tue, 28 Feb 2012 16:44:00 GMT

TransAtlantic Petroleum Ltd. has entered into a non-binding letter of intent to sell its oilfield services business to a consortium consisting of Dalea Partners LP and funds advised by Abraaj Investment Management Ltd. for an aggregate purchase price of $164 million.

Wapiti Energy to acquire Uinta Basin natural gas reserves from Gasco Energy

Tue, 28 Feb 2012 16:29:00 GMT

Wapiti Energy LLC has formed Wapiti Oil & Gas II LLC and has entered into an agreement with a subsidiary of Gasco Energy Inc. to acquire natural gas reserves in the Rocky Mountain region.

BP to sell Hugoton Basin conventional gas properties to LINN Energy for $1.2B

Tue, 28 Feb 2012 02:00:00 GMT

LINN Energy LLC signed a definitive purchase agreement to acquire Hugoton Basin properties located in Kansas from BP America Production Company for $1.2 billion.

Crestwood Midstream, Crestwood Holdings to acquire Marcellus gathering assets from Antero Resources

Mon, 27 Feb 2012 19:16:00 GMT

Crestwood Midstream Partners LP, Crestwood Holdings Partners LLC and Antero Resources Appalachian Corp. have executed definitive agreements whereby CMLP and Crestwood Holdings, through a newly formed joint venture, have agreed to acquire certain of Antero’s Marcellus Shale gathering system assets for $375 million.

Weekly Update: EP Energy and Cove Energy find their suitors

Fri, 24 Feb 2012 23:00:00 GMT

In a week where confidence has been returning to the oil market in tandem with the increasing oil price, two companies that have been in the shop window over the past few months have found willing acquirers.

SEACOR Marine buys GOM-based liftboat fleet from Superior Energy for $134M

Thu, 23 Feb 2012 17:11:00 GMT

SEACOR Marine LLC, a subsidiary of SEACOR Holdings Inc., has reached an agreement with Superior Energy Services LLC to purchase 18 liftboats for $134 million plus working capital.

ZaZa, Toreador complete merger to create international resource company

Thu, 23 Feb 2012 16:00:00 GMT

ZaZa Energy Corp. has completed the combination of Toreador Resources and ZaZa Energy LLC, creating an international resource-focused exploration and production company.

Shell makes move towards Kenya, Mozambique with $1.56B offer for Cove Energy

Wed, 22 Feb 2012 19:12:00 GMT

Royal Dutch Shell is making a move to enter the hydrocarbon-rich areas of Kenya and Mozambique with a proposed offer to acquire Cove Energy plc for US$1.56 billion (GBP 992.4 million).

URS to acquire Flint Energy Services for C$1.25B

Mon, 20 Feb 2012 20:23:00 GMT

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

Energen to acquire proved Wolfberry properties

Mon, 20 Feb 2012 16:14:00 GMT

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.

Weekly Update: Mitsubishi enters major Montney JV in Canada with Encana

Fri, 17 Feb 2012 23:30:00 GMT

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.

Magnum Hunter Resources adds Ohio Utica acreage in expanding oil window

Fri, 17 Feb 2012 15:52:00 GMT

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.

ConocoPhillips to sell Vietnam business unit to Perenco for $1.29B

Thu, 16 Feb 2012 17:57:00 GMT

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.

Magnolia Petroleum acquires Mississippi Lime acreage

Mon, 13 Feb 2012 18:21:00 GMT

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 acquires petrochemical services company Fishbone Solutions

Fri, 10 Feb 2012 16:19:00 GMT

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

Weekly Update: Sinochem increases China’s ties with South America

Fri, 10 Feb 2012 16:08:00 GMT

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

JV agreements played key role in 2011 E&P funding

Wed, 08 Feb 2012 23:10:00 GMT

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.

Shale driving M&A activity in US oil and gas sector

Wed, 08 Feb 2012 16:25:00 GMT

The total value of US oil and gas mergers and acquisitions increased significantly in 2011 due to continued investment in US shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry, according to an analysis of energy M&A data by PwC US.

DA Davidson & Co. acquires McGladrey Capital Markets

Mon, 06 Feb 2012 16:09:00 GMT

D.A. Davidson & Co., a national full-service investment firm based in the Northwest, has acquired McGladrey Capital Markets LLC (MCM), an investment banking firm headquartered in Costa Mesa, California.

Weekly Update: SandRidge makes a swoop for Dynamic Offshore Resources

Fri, 03 Feb 2012 16:16:00 GMT

SandRidge Energy made a move for private Gulf of Mexico company, Dynamic Offshore Resources this week, in a cash and stock deal worth $1.26 billion.

Rosneft, Sberbank sign deal to buy into Taas-Yuryakh project

Thu, 02 Feb 2012 22:40:00 GMT

Russia’s state-controlled oil company Rosneft and Sberbank signed a tentative agreement on the acquisition by Rosneft of a 35.3% stake in Taas-Yuryakh Neftegazodobycha.

SandRidge Energy to acquire Dynamic Offshore Resources for $1.275B

Thu, 02 Feb 2012 21:37:00 GMT

SandRidge Energy Inc. has entered into an agreement to acquire Dynamic Offshore Resources LLC for aggregate consideration of $1.275 billion consisting of approximately $680 million in cash and approximately 74 million shares of SandRidge common stock valued at $8.02 per share.

Global NuTech acquires Texas Gulf Oil and Gas

Wed, 01 Feb 2012 16:12:00 GMT

Global NuTech Inc. has acquired 100% of the stock of Houston, Texas-based Texas Gulf Oil & Gas Inc.

Weekly Update: Apache, Crescent Point Energy play it safe with bolt-on acquisitions

Fri, 27 Jan 2012 16:57:00 GMT

This week’s upstream M&A was dominated by two large bolt-on acquisitions by Apache and Crescent Point Energy, within North America.

Apache to acquire Cordillera Energy Partners for $2.85B

Mon, 23 Jan 2012 18:12:00 GMT

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

Weekly Update: Pembina, Provident merge in $3.6B deal

Fri, 20 Jan 2012 22:30:00 GMT

The largest deal in a lacklustre week for E&P deals came from PetroBakken’s divestiture of its 2.2% interest in the Weyburn unit in Saskatchewan for C$105 million.

Pembina to buy Provident Energy in $3.1B deal

Tue, 17 Jan 2012 18:31:00 GMT

Pembina Pipeline Corp. has agreed to acquire all of the issued and outstanding common shares of Provident Energy Ltd.

Monterey Shale’s Venoco plans merger

Tue, 17 Jan 2012 16:06:00 GMT

Venoco Inc., an independent energy company with substantial holdings in California’s oily Monterey Shale, said Jan. 16 that it has entered into a definitive merger agreement under which Timothy M. Marquez, Venoco’s chairman and CEO, who controls 50.3% of Venoco’s common stock, will acquire Venoco through a wholly owned entity, Denver Parent Corp.

Weekly Update: Chevron, Statoil, Repsol enter partnership in Canadian Atlantic

Fri, 13 Jan 2012 19:00:00 GMT

After the extremely busy start to 2012 last week, M&A activity slowed down considerably this week, with only a few deals breaking $100 million.

Demand for Eagle Ford acreage continues as Marubeni buys share from Hunt Oil

Mon, 09 Jan 2012 19:34:00 GMT

Marubeni Corp. recently became Japan’s largest owner of American shale oil acreage when it announced it had acquired nearly 52,000 net acres in the Eagle Ford Shale from Dallas-based Hunt Oil.

India’s Reliance may buy El Paso E&P unit

Mon, 09 Jan 2012 16:50:00 GMT

Reliance Industries Ltd., one of the largest companies in India, and Apollo Global Management LLC, a New York-based private equity firm, are looking to buy El Paso Corporation’s (NYSE: EP) oil and gas exploration and production business unit. As ranked by assets, El Paso is the 11^th largest US oil and gas producer, according to the OGJ150 Quarterly Report.

Weekly Update: New Year sees US shale acquisitions continue as Total, Sinopec make moves

Fri, 06 Jan 2012 19:00:00 GMT

US Shale was the big M&A headline-maker in 2011, and 2012 has started on the same track. Sinopec and Total were both involved in big money deals this week, spending a combined total of around $4.5 billion to enter emerging plays.

PetroChina gains full ownership of Canadian oil sands project

Thu, 05 Jan 2012 20:37:00 GMT

On January 3, Canadian crude producer Athabasca Oil Sands Corp. announced it sold its remaining 40% interest in the MacKay River oil sands project to Cretaceous Oilsands Holdings Ltd., a wholly owned subsidiary of PetroChina International Investment Ltd.

Apache completes acquisition of certain ExxonMobil North Sea assets

Tue, 03 Jan 2012 15:51:00 GMT

Houston-based Apache Corporation (NYSE, Nasdaq: APA) said Jan. 3 that its subsidiary Apache North Sea Limited has completed its previously announced acquisition of Exxon Mobil Corporation’s Mobil North Sea Limited assets, including the Beryl field and related properties.

Chesapeake Midstream to acquire US865 million in Marcellus Shale gas gathering assets

Thu, 29 Dec 2011 18:01:00 GMT

Chesapeake Midstream Partners LP (NYSE:CHKM) said Dec. 29 that it will acquire Appalachia Midstream Services LLC (AMS), the wholly owned subsidiary of Chesapeake Midstream Development LP that holds its Marcellus Shale midstream assets, for total consideration of $865 million.

Northstar Offshore sells GOM shelf assets to Korean Group for US201 million

Thu, 29 Dec 2011 16:25:00 GMT

Northstar Offshore Energy Partners LLC (NOEP) – a portfolio company of Natural Gas Partners (NGP) – said Dec. 29 that it has sold substantially all of its asset holdings to ANKOR E&P Holdings Corporation, STX Energy E&P Offshore Management LLC, and SCL Resources LLC for $201 million.

CNOOC Limited sells interest in Indonesian PSC

Wed, 28 Dec 2011 18:43:00 GMT

China’s CNOOC Limited (NYSE: CEO, SEHK: 0883) says that its subsidiary, CNOOC Southeast Asia Limited, has sold CNOOC ONWJ Ltd. to EMP International (BVI) Limited (“EMPI”) for approximately US$212 million.

Encana closes sale of more than US1 billion in divestitures

Wed, 28 Dec 2011 18:14:00 GMT

Encana Oil & Gas (USA) Inc., a subsidiary of Calgary-based Encana Corporation (TSX & NYSE: ECA), has closed the sale of the majority of its divestiture of North Texas natural gas producing properties and has received proceeds of approximately US$860 million for those assets.

With acquisition, Mustang increases automation, control capabilities in Latin America

Mon, 19 Dec 2011 20:15:00 GMT

Mustang, a Wood Group company, said December 16 that it has acquired a majority stake in ISI Solutions for an initial consideration of US$5.2 million.

Weekly Update: BP gains licenses in first GOM lease sale since Horizon disaster

Fri, 16 Dec 2011 16:38:00 GMT

This week, the Gulf of Mexico held its first land sale since the Horizon oil spill of April 2010. The Western Gulf of Mexico Lease Sale 218 reaped a total of $337 million, with 20 companies gaining tracts.

Endeavour terminates Marcellus acquisition

Wed, 14 Dec 2011 16:22:00 GMT

Endeavour International Corp. has decided to pass on the acquisition of certain Marcellus Shale assets from SM Energy.

Weekly Update: Shell and ENI gamble on Nigeria whilst Total plays it safe in North Sea

Fri, 09 Dec 2011 21:30:00 GMT

There were three large deals by super majors this week as Total played it safe by acquiring a producing North Sea asset whilst Royal Dutch Shell and ENI opted for a high risk but high reward asset in Nigeria.

Comstock Resources adds acreage prospective for Bone Spring, Wolfcamp Shale development

Wed, 07 Dec 2011 14:41:00 GMT

Comstock Resources Inc. has entered into a definitive agreement to acquire acreage in the Delaware Basin in West Texas from Eagle Oil & Gas Co. and certain other parties at a purchase price of $332.7 million.

Weekly Update: Asia intensifies North American asset grab

Fri, 02 Dec 2011 21:43:00 GMT

Government backed Asian companies made further moves for global oil and gas resources this week, with the target areas ranging from Canada and the United States to Australia.

CNOOC continues NOC drive into US with Nexen Gulf of Mexico JV

Wed, 30 Nov 2011 16:33:00 GMT

One day after Nexen Inc. sold a 40% share in certain gas assets in British Columbia for $700 million, the Canadian oil company formed a joint venture with China's CNOOC Ltd. in the Gulf of Mexico.

CNOOC completes OPTI acquisition

Mon, 28 Nov 2011 19:24:00 GMT

CNOOC Luxembourg S.a r.l, an indirect wholly-owned subsidiary of CNOOC Ltd., has completed its acquisition of OPTI Canada Inc. The total value of the consideration is approximately US$2.1 billion.

Weekly Update: KKR furthers natural gas bet with acquisition of Samson Investment

Fri, 25 Nov 2011 22:30:00 GMT

Kohlberg Kravis & Roberts Co. confirmed rumors that have been circulating since the start of November when they announced that in partnership with 3 other companies they are acquiring one of the largest private oil and gas companies in the US, Samson Investment, for $7.2 billion.

Investor group to gain shale play acreage with Samson acquisition

Wed, 23 Nov 2011 15:47:00 GMT

An investor group consisting of KKR, NGP, Crestview Partners and Itochu Corp., has signed a definitive agreement to acquire Samson Investment Co., one of the largest private exploration and production companies in the US, for $7.2 billion.

Oceaneering International to buy AGR FO for $240M

Wed, 23 Nov 2011 15:16:00 GMT

Oceaneering International Inc. has entered into a definitive agreement to acquire AGR Field Operations from AGR Group ASA for $240 million including acquired debt.

Enerjex expands Mississippian oil play in Kansas

Wed, 16 Nov 2011 21:45:50 GMT

EnerJex Resources Inc., a domestic onshore oil company, has exercised its option to acquire a 90% working interest in certain oil producing properties located adjacent to the company’s existing Black Oaks Project, which produces oil from the Mississippian formation.

Recent upstream MLP acquisitions favoring gassy assets

Tue, 08 Nov 2011 18:00:30 GMT

While many exploration and production companies favor transactions involving liquids-rich assets, acquisitions in the upstream master limited partnership (MLP) sector seem to be taking a more contrarian view.

KPMG adds de Marigny as managing director

Fri, 28 Oct 2011 20:50:40 GMT

Barbara de Marigny has joined KPMG as managing director, Mergers & Acquisitions, Tax.

Weekly Update: Shareholders display apathy to Shell-Valero rumor

Fri, 28 Oct 2011 17:40:10 GMT

Following the frenetic mega-deals of last week, including Kinder Morgan’s $38 billion acquisition of El Paso and Statoil’s $4.7 billion acquisition of Brigham Exploration, the pace of deals this week slowed to a crawl.

Equal Energy sells non-core assets for $49.35M

Thu, 27 Oct 2011 14:55:40 GMT

Equal Energy Ltd. has entered into definitive agreements to sell several non-core properties in Canada for a total cash consideration of $49.35 million.

Shale deals drive US M&A activity -- up 135% in third quarter

Wed, 26 Oct 2011 15:00:50 GMT

The total value of US oil and gas mergers and acquisitions during the third quarter of 2011 jumped 135% as foreign investors continued to show interest in the energy sector, especially in taking positions in shale plays and upstream-related assets, according to PwC US.

Police pension fund sues Goldman Sachs over Kinder Morgan-El Paso deal

Mon, 24 Oct 2011 23:10:10 GMT

Businessweek magazine is reporting that the Louisiana Municipal Police Employees Retirement System has filed a lawsuit against Goldman Sachs Group Inc. claiming the financial services firm had a conflict of interest when it advised El Paso Corp. to sell to Kinder Morgan Inc.

Kinder Morgan to acquire treating company in Eagle Ford Shale for $155 million

Mon, 24 Oct 2011 17:25:30 GMT

On Oct. 24, Kinder Morgan Energy Partners LP signed a definitive purchase and sale agreement to acquire SouthTex Treaters, a leading manufacturer, designer, and fabricator of natural gas treating plants that remove CO2 and H2S, for approximately $155 million.

Weekly Update: Oil and gas M&A still rife despite jittery markets

Fri, 21 Oct 2011 16:55:10 GMT

Over the past six months mass panic has gripped the financial markets, resulting in oil and gas stock prices diminishing by an average of 25% and the oil price by 15%, yet the thirst for oil and gas deals has shown little sign of being derailed, with depressed stock prices only serving to whet the appetite of cash rich companies targeting take-overs.

Statoil enters Bakken Shale with $4.4B purchase of Brigham Exploration

Tue, 18 Oct 2011 15:35:30 GMT

Norway’s Statoil ASA said Oct. 17 that it has entered into a merger agreement for Statoil to acquire all of the outstanding shares of Austin, Tex.-based Brigham Exploration Company for US$36.5 per share through an all-cash tender offer.

Weekly Update: China ups Canadian resource portfolio with Daylight Energy acquisition

Fri, 14 Oct 2011 22:55:50 GMT

Sinopec added to China’s Canadian asset grab this week through a $2.9 billion (including debt) takeover of Daylight Energy Inc.

Pacific Rubiales enters exploration agreement with Maurel & Prom in Peru

Thu, 13 Oct 2011 15:40:30 GMT

Pacific Rubiales Energy has signed a letter of intent with Les Etablissements Maurel & Prom S.A. pursuant to which the company has acquired a 50% working interest in the exploration contract for Block 116 located in northeastern Peru.

Weekly Update: Premier makes opportunistic grab for Encore Oil

Fri, 07 Oct 2011 22:00:40 GMT

Premier Oil made a timely offer for fellow North Sea exploration company Encore Oil this week, for a consideration of $325 million (net of cash held by Encore).

Aroway Energy names new CFO and directors

Thu, 06 Oct 2011 17:35:00 GMT

Canadian junior oil and gas company Aroway Energy Inc. has named Daryn Gordon as the company’s new CFO, and new board of director.

OGFJ100P company update

Sat, 01 Oct 2011 05:00:00 GMT

Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies.

Valleres' $2B move for Kurdistan assets marks month's largest deal

Sat, 01 Oct 2011 05:00:00 GMT

Deals in the 30-day period from mid-August to mid-September picked up from last month when only a handful of US and global energy M&A transactions were reported.

Technip to acquire Global Industries in $1.1 billion deal

Thu, 15 Sep 2011 17:00:30 GMT

On Sept. 12, Global Industries Ltd. announced it had agreed to be acquired by Technip SA for US$1.1 billion.

Reliance, BP finalize $7.2B acquisition

Thu, 08 Sep 2011 20:00:50 GMT

Reliance Industries Ltd. (RIL) and BP have completed the acquisition that leaves BP with a 30% stake in 21 oil and gas production sharing contracts (PSCs) that Reliance operates in India, including the producing KG D6 block.

Pacific Energy acquires Paradox Basin assets

Thu, 08 Sep 2011 19:05:30 GMT

A group led by Entrada Enterprises LLC has acquired 100% of the assets of Delta Petroleum Corp. of Denver, Colorado, in Grand and Emery Counties, Utah. Pacific Energy & Mining Co. is the operator of the properties.

With acquisition of Carson Energy Services, Flint increases offerings across Bakken

Fri, 02 Sep 2011 15:10:40 GMT

Flint Energy Services Ltd. has agreed to acquire all of the issued and outstanding shares of Carson Energy Services Ltd. for $112 million in cash and 2,121,212 Flint common shares, plus up to an additional $30 million earn-out over the next three years.

Dynamic Offshore Resources pays $182.4 million for XTO Gulf of Mexico properties

Wed, 31 Aug 2011 20:30:10 GMT

Dynamic Offshore Resources LLC has acquired substantially all of the Gulf of Mexico properties of XTO Offshore Inc. and other related subsidiaries of ExxonMobil Corp., for $182.5 million.

Cameron adds to drilling equipment, rig components offering with LeTourneau acquisition

Wed, 31 Aug 2011 18:30:00 GMT

Cameron International Corp. has agreed to acquire LeTourneau Drilling Systems and Offshore Products from Joy Global for US$375 million in cash.

Tendeka sells industrial monitoring business of Sensornet to Nova Metrix

Wed, 31 Aug 2011 15:25:40 GMT

Tendeka has sold the industrial monitoring business of its London-based fibre optic monitoring subsidiary, Sensornet Ltd. to Woburn, Massachusetts, USA-based Nova Metrix LLC.

BCM Energy Partners to acquire Liberty Field assets from Drum Oil & Gas

Mon, 22 Aug 2011 21:40:50 GMT

New Orleans-based BCM Energy Partners Inc., an oil and gas company focused on acquiring and developing distressed assets, announced Aug. 22 that it executed an agreement with Drum Oil & Gas Inc. and Drum Equipment Inc. to acquire certain producing assets in Liberty County, Texas, east of Houston.

Shale, midstream, foreign investments drive US oil and gas M&A value to $39B in 2Q

Fri, 19 Aug 2011 22:45:20 GMT

Ongoing interest in shale acreage, deals for midstream assets, and increased investments from foreign buyers in the US oil and gas industry helped drive domestic oil and gas mergers and acquisitions value to $39 billion in the second quarter of 2011, according to PwC US.

BHP Billiton-Petrohawk deal receives final regulatory approval

Fri, 19 Aug 2011 20:25:30 GMT

Australian mining giant BHP Billiton has received final regulatory approval from US authorities that it may conclude its acquisition of Houston-based Petrohawk Energy Corporation, one of the larger shale players in North America.

Transocean in $2.23 billion offer for Aker Drilling

Fri, 19 Aug 2011 20:01:00 GMT

Transocean, the world’s largest offshore drilling company, wants to buy Norway’s Aker Drilling, and Aker’s board of directors has unanimously recommended that its shareholders accept the offer, which is priced at about US $1.4 billion.

DEALS OF THE WEEK: China and GDF SUEZ enter key partnership

Fri, 12 Aug 2011 23:00:30 GMT

FROM EOIN COYNE FOR EVALUATE ENERGY: China Investment Corp and GDF Suez announced last week that they were entering into a major cooperation framework, which will aid GDF SUEZ in its planned expansion into Asia, in what GDF foresees as being a key growth market.

PwC: Shale plays, midstream assets, foreign investments drive US oil, gas M&A value to $39B in 2Q11

Wed, 10 Aug 2011 19:25:10 GMT

Ongoing interest in shale acreage, deals for midstream assets and increased investments from foreign buyers in the US oil and gas industry helped drive US oil and gas mergers and acquisitions value to $39 billion in the second quarter of 2011, according to PwC US.

Hunting to acquire Titan Specialties for $775M

Mon, 08 Aug 2011 15:40:10 GMT

Hunting PLC has agreed to acquire Titan Specialties Ltd. for a total consideration of $775 million, subject to adjustments.

Archer expands oilfield drilling services with Great White Energy acquisition

Mon, 01 Aug 2011 18:40:10 GMT

Archer, a global oilfield service company specializing in drilling services and well services, has signed a definitive purchase and sale agreement to acquire Great White Energy Services, for US$742 million.

Tullow completes $305M acquisition of Ghanian interests from EO Group

Tue, 26 Jul 2011 19:45:30 GMT

After satisfying conditions, UK-based Tullow Oil plc has completed the acquisition of EO Group Ltd. Ghanaian interests for $305 million on July 25.

Deals of the Week: CNOOC continues Asia's incursion into Canada with OPTI acquisition

Fri, 22 Jul 2011 17:45:30 GMT

CNOOC continued Asia’s Canadian asset build up this week with the acquisition of the beleaguered Canadian oil sands company OPTI Canada, in a deal worth $1.95 billion (net of cash on OPTI’s balance sheet).

Rowan sells domestic land drilling fleet

Wed, 20 Jul 2011 18:00:00 GMT

Rowan Companies Inc. has entered into an agreement to sell its 30-rig domestic land drilling fleet to a subsidiary of Ensign Energy Services Inc. for $510 million cash plus $30 million in working capital.

Hilcorp to buy Chevron Cook Inlet assets

Wed, 20 Jul 2011 15:35:30 GMT

In a deal with Alaskan Chevron subsidiary Unocal, private operator Hilcorp has acquired Cook Inlet oil and gas assets for an undisclosed sum.

Energy Transfer Equity, Southern Union enter $9.4B amended merger agreement

Tue, 19 Jul 2011 18:20:30 GMT

Energy Transfer Equity LP has once again upped its bid to acquire Southern Union Co.

BREAKING NEWS: BHP Billiton to buy Petrohawk for $15.1 billion

Thu, 14 Jul 2011 23:55:20 GMT

Australia’s BHP Billiton Ltd. said July 14 that it will buy Houston-based Petrohawk Energy Corp. for US$12.1 billion in an all-cash offer and will also assume about $3 billion in Petrohawk’s debt.

Eyeing natural gas pipelines, Williams outbids ETE for SUG once again

Thu, 14 Jul 2011 16:45:00 GMT

Tulsa, OK-based integrated natural gas company Williams has upped its bid to acquire Southern Union Co. —a move that puts it ahead of Energy Transfer Equity LP in the bidding war for the Houston-based company.

Duff & Phelps acquires Growth Capital Partners

Tue, 05 Jul 2011 15:35:10 GMT

Independent financial advisory and investment banking services firm Duff & Phelps Corp. (NYSE: DUF), has acquired Growth Capital Partners.

M&As lag as public markets warm up to venture-backed companies

Fri, 01 Jul 2011 14:15:50 GMT

As the public markets warm up to venture-backed companies, corporate acquirers are pulling back. In the second quarter of 2011, 109 venture-backed companies achieved liquidity, netting $11.2 billion, according to Dow Jones VentureSource.

Strategic acquisition just one prong of P2 Energy Solutions' growth

Fri, 01 Jul 2011 05:00:00 GMT

If P2 Energy Solutions is any indication, merger and acquisition activity in upstream oil and gas is likely to hit an all time high in 2011.

Weaver merges with Midland office of Killman, Murrell & Co.

Wed, 29 Jun 2011 15:45:50 GMT

Independent certified public accounting firm Weaver has merged with the Midland office of Killman, Murrell & Co. PC, effective July 1, 2011.

Encana ends Cutbank Ridge JV negotiations with PetroChina

Tue, 21 Jun 2011 16:10:20 GMT

Encana Corp. has ended negotiations with potential JV partner PetroChina Co. Ltd. after both parties were unable to agree to terms to develop Encana’s Cutbank Ridge assets.

Laredo to pay $1B to buy Broad Oak, extended access to Wolfberry

Thu, 16 Jun 2011 18:10:20 GMT

Privately held Laredo Petroleum Inc. has entered a definitive agreement to buy Broad Oak for roughly $1 billion.

Linc Energy acquires oil producing assets in US

Wed, 08 Jun 2011 14:25:20 GMT

Australia-based Linc Energy has acquired 14 producing oil fields on 156 leases spanning 13,400 acres in the Gulf Coast region of Texas and Louisiana from ERG Resources LLC for US$236 million.

Basic Energy Services to acquire Maverick companies for $180M

Thu, 02 Jun 2011 21:00:40 GMT

Midland, Texas-based Basic Energy Services Inc. said June 2 that it has signed a letter of intent to purchase the outstanding equity interests of the Maverick group of companies for $180 million subject to certain working capital adjustments.

NASDAQ and ICE will not buy NYSE Euronext exchange

Tue, 17 May 2011 20:50:10 GMT

The NASDAQ OMX Group and the Atlanta-based Intercontinental Exchange (ICE) said May 16 they are dropping their effort to purchase the NYSE Euronext exchange. Federal antitrust regulators had previously told the would-be purchasers that the deal would not gain the government’s approval.

Stork Technical Services, Arle extend footprint with RBG acquisition

Mon, 16 May 2011 23:05:20 GMT

Stork Technical Services and Arle have acquired RBG Ltd., the UK based supplier of inspect, assess and repair services to the global energy industry.

Energy XXI sells non-core onshore onshore assets for $41 million

Thu, 12 May 2011 22:25:20 GMT

On May 12, Energy XXI (Bermuda) Limited announced the sale of a number of non-core, mostly non-operated, onshore natural gas assets to a private buyer for $41 million cash.

LINN to buy $220M in Texas Panhandle, OK assets

Mon, 09 May 2011 18:30:00 GMT

LINN Energy LLC has agreed to purchase a 40% stake in oil and natural gas properties in Texas and Oklahoma from Panther Energy Company LLC and Red Willow Mid-Continent LLC for $220 million.

Legacy Reserves closes $66M Permian Basin acquisition

Fri, 06 May 2011 19:40:20 GMT

Midland, TX-based Legacy Reserves LP has closed the previously announced acquisition of Permian Basin natural gas properties for $66.1 million in cash.

M&A in the post-Macondo landscape

Sun, 01 May 2011 05:00:00 GMT

Companies must consider higher prices and the potential for increased regulations in M&A decisions.

Through new subsidiary, Chesapeake Energy commences tender offer to acquire Bronco Drilling

Tue, 26 Apr 2011 15:45:10 GMT

W&T Offshore goes onshore with Permian Basin acquisition

Tue, 26 Apr 2011 15:05:30 GMT

W&T Offshore Inc. has made a move onshore with an agreement to acquire 21,500 net acres in the West Texas Permian Basin for $366 million from private sellers.

Chesapeake to secure rig availability with $315M acquisition of Bronco Drilling

Fri, 15 Apr 2011 15:30:00 GMT

Oklahoma City-based Chesapeake Energy continues its vertical integration with an agreement to acquire Bronco Drilling for $315 million, or $11.00 per share including debt, net working capital and outstanding warrants.

TGS-NOPEC acquires Stingray Geophysical

Fri, 15 Apr 2011 15:00:00 GMT

Norway’s TGS-NOPEC Geophysical Company ASA has acquired UK-based Stingray Geophysical Limited for a purchase price estimated at up to USD 80 million.

Court, shareholder approval granted for Magnum Hunter acquisition of NGAS Resources

Tue, 12 Apr 2011 20:50:00 GMT

Clearing another hurdle in its latest round of acquisitions, Magnum Hunter Resources Corp. has secured approval from The Supreme Court of British Columbia to continue with its acquisition of NGAS Resources Inc.

Rodman & Renshaw expands sales, trading with Hudson Holding acquisition

Mon, 11 Apr 2011 15:00:00 GMT

Rodman & Renshaw Capital Group Inc. has completed its acquisition of Hudson Holding Corp. The merger furthers Rodman's mission of building a full service investment bank for growth companies with expanded sales, trading and research capabilities.

BREAKING NEWS: NYSE Euronext rejects NASDAQ/ICE takeover bid

Sun, 10 Apr 2011 17:30:40 GMT

NYSE Euronext said Sunday, April 10, that its board of directors has rejected an unsolicited takeover attempt by NASDAQ OMX Group Inc and IntercontinentalExchange Inc (ICE), and has reaffirmed its commitment to merging with Germany’s Deutsche Boerse AG.

BREAKING NEWS: BHP Billiton plans $49 billion takeover of Woodside Petroleum

Sun, 10 Apr 2011 15:00:00 GMT

BHP Billiton PLC (NYSE:BHP) is putting together a $49.14 billion offer to take over Woodside Petroleum Ltd. (PINK:WOPEY) , according to reports on Sunday, April 10, in Australian newspapers and broadcast outlets.

Ithaca acquires North Sea assets from Hess for $74M plus share swap

Mon, 04 Apr 2011 19:00:00 GMT

Ithaca Energy Inc. has agreed to acquire a 28.46% non-operated interest in the Cook oil field and a 7.41% non-operated interest in the Maclure oil field from Hess Ltd. for US$74.5 million and the transfer from Ithaca to Hess of a 10% interest in each of exploration Blocks 42/25b, 43/16a and 43/21c in the Southern North Sea.

Maersk Oil acquires stake in Norway licenses from Marathon

Mon, 04 Apr 2011 18:10:00 GMT

Maersk Oil has acquired shares in three production licenses in Norway from Marathon Petroleum Norge A/S in exchange for Maersk Oil's financial contribution to the Earb South exploration well.

Providence sells GOM assets to Dynamic Resources

Fri, 01 Apr 2011 16:45:50 GMT

Ireland-based Providence Resources plc has sold its US oil and gas portfolio in the Gulf of Mexico to Dynamic Offshore Resources LLC for $15 million in cash up front and an additional $7 million deferred cash payment.

Pacific Rubiales acquires Colombian interests from Maurel et Prom

Thu, 31 Mar 2011 18:30:40 GMT

Canadian-based Pacific Rubiales Energy Corp. has acquired 50% of the interests held by Maurel et Prom in the Sabanero, Muisca, SSJN-9, CPO-17 and COR- 15 blocks, which are all located on-shore in Colombia.

UPDATE: Tullow clears tax hurdle, sells partial interest in Uganda assets to CNOOC, Total

Thu, 31 Mar 2011 15:00:00 GMT

Tullow clears tax hurdle, sells partial interest in Uganda assets to CNOOC, Total

Wed, 30 Mar 2011 16:55:00 GMT

Independent oil company Tullow Oil PLC has signed agreements with CNOOC Ltd. and Total SA to sell one third interests in certain exploration areas 1, 2, and 3A in Uganda.

CNOOC to acquire a third of Tullow's Uganda assets for US$1.5 billion

Wed, 30 Mar 2011 15:15:20 GMT

CNOOC Limited and Tullow Oil plc entered into an agreement on March 29 for the Chinese company to acquire Tullow’s one-third interest in Exploration Areas 1, 2, and 3A in Uganda.

Samson Oil & Gas agrees to sell Green River gas assets

Fri, 25 Mar 2011 16:20:40 GMT

Samson Oil & Gas Limited said March 25 that it has agreed to sell its gas assets in the Jonah and Lookout Wash Fields in the greater Green River Basin (Wyoming) for $6.3 million to a group of private buyers.

Encore Energy Partners receives buyout offer from Vanguard Natural Resources

Fri, 25 Mar 2011 16:05:10 GMT

Encore Energy Partners LP said March 25 that the board of directors of the company’s general partner has received a proposal from Vanguard Natural Resources LLC whereby VNR would acquire all of the outstanding, publicly-held Encore Energy Partners common units VNR does not already own through a unit-for-unit exchange.

Darden family halts private takeover of Quicksilver Resources Inc

Thu, 17 Mar 2011 16:45:20 GMT

Quicksilver Energy LP and the members of the Darden family said March 17 that they had determined not to further pursue a take private transaction of Quicksilver Resources Inc. (NYSE: KWK) at this time.

More focused on Marcellus assets, Seneca Resources sells Gulf of Mexico properties

Thu, 10 Mar 2011 17:35:40 GMT

Houston-based Seneca Resources, a subsidiary of Williamsville, New York-based National Fuel Gas Co., has agreed to sell its offshore Gulf of Mexico oil and natural gas producing properties for $70 million.

El Paso Pipeline Partners to acquire interest in Southern Natural Gas

Mon, 07 Mar 2011 15:55:20 GMT

El Paso Pipeline Partners LP has agreed to acquire an additional 22% interest in Southern Natural Gas Company (SNG) from El Paso Corp. for $587 million.

Israel's Delek Group merges subsidiary

Fri, 04 Mar 2011 18:10:20 GMT

Delek Group announced March 1 that it will merge with its fully owned subsidiary, Delek Investments & Properties.

In $2.85B merger transaction, Holly and Frontier would create large US refiner

Tue, 22 Feb 2011 21:00:40 GMT

Holly Corp. and Frontier Oil Corp. have agreed to merge in an all-stock transaction that would create one of the largest independent refiners in US with an enterprise value of $7 billion.

Chesapeake sells Fayetteville Shale assets to BHP Billiton for $4.75 billion

Mon, 21 Feb 2011 23:25:00 GMT

Oklahoma City-based Chesapeake Energy Corporation said Feb. 21 it will sell all of the company’s interests in about 487,000 net acres of leasehold and producing natural gas properties in the Fayetteville Shale play in central Arkansas to BHP Billiton Petroleum, a wholly owned subsidiary of BHP Billiton Limited, for $4.75 billion in cash.

Proserv Offshore sells certain offshore assets to TETRA Technologies

Fri, 18 Feb 2011 23:10:20 GMT

Subsea application company Proserv Offshore Inc. has sold certain offshore assets to TETRA Technologies Inc. for a net purchase price of $6.25 million.

Germany's Deutsche Boerse may take over New York Stock Exchange

Tue, 15 Feb 2011 16:15:50 GMT

What is more American than the New York Stock Exchange? We may have to rethink the answer to that question as the boards of NYSE Euronext, which owns the New York Stock Exchange, and Germany’s Deutsche Boerse have agreed to merge.

Encana establishes JV with PetroChina valued at $5.4 billion

Thu, 10 Feb 2011 23:35:30 GMT

Calgary-based Encana Corporation has signed a cooperation agreement with PetroChina International Investment Company Limited, a subsidiary of PetroChina Company Limited that would see PetroChina pay C$5.4 billion (about US$5.4 billion) to acquire a 50% interest in Encana’s Cutbank Ridge business assets in British Columbia and Alberta.

Sun River completes asset acquisition on heels of Leaver promotion

Thu, 10 Feb 2011 17:10:20 GMT

Dallas-based developmental stage oil and gas exploration and production company Sun River Energy Inc. has completed the acquisition of certain oil and gas interests with Katy Resources ETX LLC and promoted Jay Leaver to vice president of geology.

Acquisition of Pinnacle Gas Resources completed

Thu, 27 Jan 2011 14:00:00 GMT

Sheridan, Wyoming-based Pinnacle Gas Resources Inc. has been acquired by Powder Holdings LLC, an entity controlled by private equity group SW Energy Capital LP, for $10.3 million, or $0.34 per share.

Unconventional plays, aggressive NOC spending, IOC restructuring key themes for 2011 deal activity

Wed, 26 Jan 2011 16:15:10 GMT

Wood Mackenzie’s annual review of global upstream M&A suggests that peak levels of deal activity in 2010, particularly at the end of the year, bode well for another big year in 2011.

Gulf Coast Energy acquires Texas Wilcox Trend assets

Wed, 19 Jan 2011 15:20:40 GMT

Gulf Coast Energy Resources LLC has acquired, through its subsidiary GCER Onshore LLC, producing assets and an exploration portfolio in the Texas Wilcox Trend from a private company for $95 million.

Weaver merges with LT Hawthorne & Associates

Wed, 12 Jan 2011 23:00:20 GMT

Independent certified accounting firm Weaver is expanding services offered to the petroleum and renewable fuels industries through the merger with L.T. Hawthorne & Associates Inc.

Dover expands oilfield service offerings with Harbison-Fischer acquisition

Wed, 05 Jan 2011 16:45:10 GMT

Dover Corp. has acquired Harbison-Fischer Inc., a designer and manufacturer of down-hole rod pumps and related products, for $402.5 million.

Rodman expands sales, trading presence with Hudson acquisition

Wed, 05 Jan 2011 16:20:30 GMT

Investment banking group Rodman & Renshaw Capital Group Inc. has entered a definitive merger agreement with Hudson Holding Corp. pursuant to which Rodman will acquire Hudson in a transaction valued at roughly $7 million.

Four key trends emerge from 2010 oil, gas deals

Tue, 04 Jan 2011 15:40:50 GMT

Oil and gas deals in the E&P sector reached $73 billion in the 4th quarter of 2010 with deals for the year totaling $238 billion, compared with $151 billion in 2009. According to Evaluate Energy, there were at least four key trends that emerged from the pattern of oil and gas deals in 2010.

Worldwide upstream oil, gas asset acquisitions top record high $107B in 2010

Mon, 03 Jan 2011 19:45:30 GMT

Worldwide transactions involving upstream oil and gas assets reached a record $107 billion in 2010, according to preliminary results in the IHS Herold 2011 Global Upstream M&A Review, to be released by research firm IHS.

BHP Billiton reportedly to make cash offer of $44.6 billion for Anadarko

Fri, 31 Dec 2010 15:20:10 GMT

BHP Billiton reportedly to make cash offer of $44.6 billion for Anadarko

BOS signs 3D seismic deal in North Sea

Thu, 30 Dec 2010 17:15:20 GMT

Norwegian offshore seismic survey company Bergen Oilfield Services AS has signed a contract with LOTOS Exploration and Production Norge AS, acting as operator on behalf of the License Group in PL 503, of a 1563 square kilometer acquisition program of 3D Seismic Data in the area of PL 503 in the southern part of the North Sea.

Hess acquires additional Bakken acreage for $1.05 billion

Wed, 29 Dec 2010 17:10:40 GMT

Hess Corp. said Dec. 29 that it has completed the acquisition of 167,000 net acres in the Bakken oil shale play in North Dakota from privately-held TRZ Energy LLC for $1.05 billion in cash.

Young Energy Prize to help fund Evans Shoal agreement for Magellan Petroleum

Mon, 27 Dec 2010 18:15:40 GMT

On December 24, Magellan Petroleum Corp. announced it had received and accepted a legally binding commitment from its largest shareholder, Young Energy Prize s.a., to provide the necessary funds required for MPET's Australian subsidiary to close out the acquisition from Santos of a 40% ownership interest in the Evans Shoal natural gas field in the Bonaparte Basin offshore Northern Territory Australia.

Magnum Hunter Resources to acquire NGAS Resources

Mon, 27 Dec 2010 17:05:50 GMT

NGAS Resources Inc. has announced a definitive agreement to be acquired by Magnum Hunter Resources Corp. in an all-stock transaction valued at roughly $98 million.

Maersk Oil to buy Brazilian assets for $2.4 billion

Sun, 26 Dec 2010 22:05:40 GMT

Denmark’s Maersk Oil has agreed to acquire SK do Brasil Ltda. for US$2.4 billion on a cash and debt-free basis.

EXCO Resources acquires Marcellus Shale properties from Chief

Wed, 22 Dec 2010 14:40:10 GMT

Dallas-based EXCO Resources Inc. said Dec. 22 it will buy properties prospective for the Marcellus Shale from Chief Oil & Gas LLC and related parties for about $459.4 million, after preliminary purchase price adjustments at the closing.

Total acquires an interest in Elevance Renewables

Tue, 21 Dec 2010 14:50:30 GMT

France’s Total has purchased an interest in Elevance Renewables Sciences Inc., a Chicago-based company developing a technology to convert renewable oils, such as vegetable oils, into low-cost and high-value performance chemicals.

Talisman and Sasol to partner in Canada's Montney Shale

Mon, 20 Dec 2010 20:30:10 GMT

Calgary-based Talisman Energy has signed an agreement with South Africa’s Sasol Limited on Dec. 20 to create a strategic partnership to develop the Farrell Creek assets in Talisman’s Montney Shale play in northeastern British Columbia. Talisman will sell a 50% working interest in its Farrell Creek assets to Sasol for a total consideration of Can$1.05 billion (about US$1.03 billion).

Gastar completes acquisition of Marcellus Shale leasehold

Mon, 20 Dec 2010 15:45:40 GMT

Houston-based Gastar Exploration Ltd. said Dec. 20 it has completed the previously announced Marcellus property acquisition for $29.1 million. The acquisition consists of about 62,000 net acres of leasehold in the Marcellus Shale.

Energy XXI closes deal with ExxonMobil for GoM shelf properties

Fri, 17 Dec 2010 19:50:10 GMT

Total and Suncor form strategic alliance in Canada's oil sands

Fri, 17 Dec 2010 17:20:10 GMT

Yorkville Advisors participates in equity placement completed by Sound Oil Plc

Fri, 17 Dec 2010 17:00:00 GMT

Energy law firm Burleson Cooke names Cagle partner

Thu, 16 Dec 2010 16:00:50 GMT

Kim S. Cagle has been named a partner of energy law firm Burleson Cooke.

Global Hunter Securities closes 5 deals exceeding $418 million

Mon, 13 Dec 2010 18:50:00 GMT

Global Hunter Securities said Dec. 13 it has closed five separate transactions for four different clients at the end of November, totaling $418.8 million.

Energen buys Permian acreage from SandRidge for $110M

Mon, 13 Dec 2010 17:20:50 GMT

Energen Corp.’s oil and gas exploration and production company, Energen Resources Corp., has purchased 40,000 acres in the Permian Basin from SandRidge Energy Inc. for $110 million plus standard closing adjustments.

Occidental to sell Argentine assets, buy Bakken, other US asset

Fri, 10 Dec 2010 16:15:50 GMT

Oil producer Occidental Petroleum Corp. recently announced plans to pay $3.2 billion for certain US assets while selling assets in Argentina to China for $2.5 billion.

Providence ups interest in Barryroe following asset deals with Lansdowne

Fri, 03 Dec 2010 21:10:30 GMT

Irish oil and gas exploration and production company Providence Resources plc has increased its equity stake in, and assumed operatorship of, the Barryroe oil discovery in the North Celtic Sea, offshore Ireland.

Venoco hires VP, corporate development

Thu, 02 Dec 2010 22:10:00 GMT

Edward McLaughlin will join Venoco Inc. (NYSE: VQ) as vice president of corporate development.

American Standard adds Bakken, Three Forks acreage

Thu, 02 Dec 2010 16:55:40 GMT

American Standard Energy Corp. has agreed to purchase additional Bakken and Three Forks acreage including partial interest in 26 additional gross wells, of which 15 are currently producing, 10 completing and one drilling.

Antero Resources acquires Bluestone Energy, adds to Marcellus acreage

Thu, 02 Dec 2010 16:05:40 GMT

Independent oil and natural gas company Antero Resources has acquired Bluestone Energy Partners, adding to the company’s Marcellus shale acreage position.

E.ON sells $4.4B stake in Gazprom

Wed, 01 Dec 2010 19:00:00 GMT

Düsseldorf, Germany-based E.ON AG has sold the 3.5% stake in Gazprom held by its subsidiary E.ON Ruhrgas.

Antero Resources closes Oklahoma midstream sale to Cardinal

Wed, 01 Dec 2010 06:00:00 GMT

Antero Resources has closed the previously announced sale of its midstream assets, located in the Woodford Shale area of the Arkoma Basin, to Cardinal Midstream LLC for $270 million.

Chevron buys Atlas Energy in $4.3B deal, enters shale business

Wed, 01 Dec 2010 06:00:00 GMT

Following recent shale asset acquisitions in Poland, Romania, and Canada, Chevron Corp. has made a large grab at the North American shale industry, particularly the gas-rich Marcellus shale.

Studies show further guidance needed on revised oil and gas disclosure rules

Wed, 01 Dec 2010 06:00:00 GMT