Vanguard continues to hunt upstream MLPs despite the vulnerability of commodity price. But it also picks up hedges in the deal with Eagle Rock Energy.
Crescent Point Energy Corp. will buy Legacy Oil & Gas Inc. for CA$563 million (US$453 million) in shares, Bloomberg said. Crescent will gain about 22,000 barrels of oil equivalent daily.
Data analytics provider Verisk Analytics Inc. completed its acquisition of industry research firm Wood Mackenzie Ltd. The purchase price was 1.85 billion British pounds, about US$2.8 billion.
The Permian Basin is prime for M&A interest. There could be consolidation in the Eagle Ford as producers try to drive efficiencies and lower costs, a Citigroup executive told Bloomberg.
After three years and $2.2 billion spent buying Eagle Ford, Permian and Arkoma Basin assets, Atlas plans to use $35 million in proceeds to pay down debt.
An analyst argues that Noble’s D-J Basin assets may not have the firepower touted by the company, while another says the merger may prove to be the way large deals get done.
Services companies have taken the hardest hit in industry from the oil price drop, Bloomberg said. Companies with weaker balance sheets might need to consider mergers to survive.
Combined midstream operations will include the Marcellus, Utica, Eagle Ford, Haynesville, Barnett, Midcontinent and Niobrara. It’s anticipated to be one of the largest, high-dividend paying C-Corps in the energy sector.
U.S. oil and gas deal activity stalls in first-quarter 2015 due to low oil prices while corporate deals surpass asset transactions for the first time in five years.
Noble will acquire 56,000 acres in the Permian and 50,000 in the Eagle Ford to buy Rosetta at a premium of nearly 40%.
Calgary, Alberta-based Talisman’s common shares will delist from the Toronto Stock Exchange and the New York Stock Exchange. All preferred shares will delist from the Toronto Stock Exchange.
Shell CEO Ben Van Beurden is in China discussing how Shell and BG Group merger won’t negatively affect China. But Shell/BG will have clout in global LNG market, Bloomberg said.