Acquisitions & Divestitures - News
Oil and gas assets in California’s San Joaquin Basin and the Austin Chalk Play in South Texas are on the market, according to EnergyNet, which has been retained to handle the sale.
Sierra, a Houston-based private E&P founded in 1996, most recently began focusing on acquiring and developing unconventional assets in the Eagle Ford Shale in South Texas.
BHP CEO Andrew Mackenzie said the preference would be a small number of trade sales, but refused to give a timetable for quitting the U.S. shale business.
Total has been betting on new rather than mature fields in the North Sea and the acquisition of Maersk Oil gives it further economies of scale.
The behind-the-scenes push by Elliott comes as fellow activist shareholder, Corvex Management, has waged a public campaign to force Permian Basin-focused Energen to put itself on the auction block.
The assets, located primarily in West Virginia, currently produce roughly 7.5 million cubic feet per day (100% gas) and include about 311 miles of gas pipeline, gathering lines and related facilities.
New midstream operator buys White Star’s Midcon assets.
Amec Foster Wheeler PLC's proposal to sell almost all of its upstream offshore oil and gas servicing assets may be adequate for regulatory approval of its merger with John Wood Group PLC, the U.K.’s Competition and Markets Authority said.
Corvex first targeted Energen on May 31, calling on it to explore a sale of the entire company. Energen announced a few weeks it was sticking to its own business plan.
The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean's position in offshore drilling as Songa is Statoil's largest drilling service provider.
Andeavor Logistics also said it would issue 78 million of its units to parent Andeavor in exchange for the cancellation of its incentive distribution rights.
More than 1,000 miles of pipeline purchased in Scoop, Stack, Merger play.