Acquisitions & Divestitures - Joint Ventures

Baker Hughes’ Frack Fleet Deal Pays Pennies On The Dollar

Baker Hughes retains a minority stake in the new company, but analysts are skeptical the transaction was a fair bargain.


Australian National Audit Office: North West Shelf Gas JV Was Underpaying Royalties

The audit office questioned the eligibility of deductions claimed for the cost of debt and equity funded capital and the excise paid on crude and condensate, Reuters reported.


Rowan And Saudi Aramco Will Form Offshore Drilling JV

Rowan will supply two more rigs in late 2018 and Saudi Aramco will make a matching cash contribution, Reuters reported.


PetroQuest Enters JV For Cotton Valley Acreage Development

PetroQuest expects to pay about 69% of the drilling and completion costs for a 75% working interest in the initial well. 


Sunoco, ExxonMobil Form JV To Combine Pipeline Assets

The JV, called Permian Express Partners, will consist of assets owned by both companies, according to a statement. Sunoco Logistics will take a stake of 85%, while ExxonMobil will control the remaining 15%.


Consol, Noble Energy Disband Marcellus JV

Noble will pay $205 million to end the arrangement, which will increase Consol’s Marcellus footprint in Pennsylvania.


Nabors, Saudi Aramco Form JV For Onshore Drilling Rigs

The JV, anticipated to commence in second-quarter 2017, will leverage Nabors' established business in Saudi Arabia to begin operations, with a focus on the kingdom's existing and future onshore fields.


Gastar Refuels With Stack JV, Noncore Sale

Several maneuvers to free liquidity will likely fund the Houston-based company through 2018, analysts said.


Mexico Gives Bidders More Time For First-Ever Deepwater Venture

Mexico's oil regulator gave oil companies an extra week to submit comments and questions about the country's first-ever deepwater joint venture covering state oil company Pemex's Trion Field.


Qatar Considers Joining Exxon To Buy Stake In Eni's Mozambique Gas Area

Located in Mozambique's Rovuma Basin, Eni's Area 4 is one of the biggest recent discoveries, holding about 85 trillion cubic feet of gas, Reuters reported.


Lucas Energy Lands Deal To Fund Eagle Ford Shale Development

Lucas will initially participate in the Cyclone #9H and #10H wells on Lonestar's Harvey Johnson lease in southern Gonzales County in South Texas.


JV Agreements For Sandpiper Pipeline Are Scrapped

With oil hovering near $40/bbl and narrow pricing differentials between regions, concerns about overcapacity are hitting midstream operators in numerous parts of the country, Reuters reported.