Acquisitions & Divestitures

A&D - E&P

Diamondback’s Viper Energy Strikes Deal For Permian Mineral Rights

Viper entered separate agreements to acquire mineral rights across Midland and Delaware acreage primarily operated by Pioneer and a private company.

Emily Moser
2016/07/26

BP To Pursue New Projects Despite Earnings Miss

The company's results on July 26 missed expectations, with analysts surprised by higher corporate charges, including administrative costs relating to Gulf of Mexico oil spill liabilities, and a lower contribution from its stake in Rosneft.

Emily Moser
2016/07/26

How Luxe Energy Found Its ‘Delaware In The Rough’

After its $560 million deal with Diamondback, Luxe will move on to a different basin to build another position after it was boxed in by the Delaware's success.

Darren Barbee
2016/07/26

Crude Oil Prices Face Weekly Decline As Glut Fears Persist

While many expect global oversupply of oil to ease in the near term, huge amounts of crude remain in vessels at sea and storage tanks on land as the rebalancing takes longer than some had anticipated.

2016/07/22

Insight

Renewed Oil Weakness Sparks Demand Fears, Analysts Say

Instead of seeing $60 a barrel, which would support an increase in production, the demand questions, and ongoing supply concerns, mean oil could fall further. U.S. crude settled at $43.13 on July 25, after earlier hitting a three-month low.

Emily Moser
2016/07/26

Canadian Energy Earnings Hint At Brighter Oil Outlook

The Canadian oil and gas earnings season kicked off  with signs of an industry recovery as Encana and Precision Drilling outlined plans to boost activity. Analysts said the uptick in optimism might be mirrored by some U.S. shale companies.

Emily Moser
2016/07/25

More Pain Seen For US Crude As Refined Products Glut Worsens

The market is concerned that gasoline supply will not clear up in the second half of 2016, causing refinery run cuts and another wave of excess crude, a North Carolina-based trader said.

Emily Moser
2016/07/21

Oil, Gas Production Gains In 2017 Could Prolong Downturn

Pre-downturn sanctioned projects are expected to grow offshore production next year, but the cancellation of pre-FID projects could create a ‘supply crunch’ later, report says.

Emily Moser
2016/07/20

Joint Ventures

Kinder Morgan, Southern Form Natural-Gas Pipeline JV

Under the JV agreement, Southern will acquire a 50% equity interest in the SNG pipeline system from Kinder Morgan. The value of the stake in SNG is about $1.47 billion.

Emily Moser
2016/07/11

Rex Energy's Appalachia JV Receives $50 Million Boost

Benefit Street Partners, Rex's partner in the Moraine East JV, has elected into the next 12 wells,  increasing the total capital commitment to $98.1 million from $51.6 million.

Emily Moser
2016/06/21

National Fuel Extends Marcellus Shale JV With IOG Capital

The agreement, between National Fuel's wholly owned E&P subsidiary, Seneca Resources Corp., and an affiliate of IOG Capital, includes the development of 75 total Marcellus wells located in the Clermont/Rich Valley area in Pennsylvania.

Emily Moser
2016/06/13

Wood Group Mustang, Grupo Diavaz Create JV Engineering Business In Mexico

Luis Vazquez, chairman and CEO of Grupo Diavaz, said that the JV company will have predictable project delivery and will adhere to industry-recognized safety standards.

Erin Pedigo
2016/06/09

Mergers & Acquistions

ExxonMobil To Acquire InterOil For More Than $2.5 Billion

InterOil owns a 36.5% stake in the gas-rich Elk-Antelope field in Papua New Guinea, which is expected to be the main source for ExxonMobil's proposed Papua LNG project.

Emily Moser
2016/07/21

U.S. Silica Buys New Grit In Texas

The company has inked two deals in 2016 and says it has more opportunities it is exploring as it expands during the downturn.

Darren Barbee
2016/07/19

ExxonMobil Reportedly Tops Oil Search's Bid For InterOil

According to a presentation filed with the U.S. Securities and Exchange Commission on July 12, InterOil received three proposals, including Oil Search's, to sell the entire company during its initial sale process.

Emily Moser
2016/07/13

Ex-directors To Williams: This Isn’t Over

Williams chooses former Bush administration official as chairman; directors who sought to topple CEO leave in anger.Williams chooses former Bush administration official as chairman; directors who sought to topple CEO leave in anger.

2016/07/05

Midstream

Husky Energy: Pipeline Began Leaking Oil A Day Before Crews Arrived

The 19-year-old pipeline transports heavy oil and helps supply Husky's Lloydminster upgrader, Reuters said.

Erin Pedigo
2016/07/26

Bidders Including Macquarie Consider Stake In Gas Connect Austria

Austrian energy group OMV, which is 31.5% owned by the state, is selling a 49% stake in Gas Connect Austria to raise cash to fund investments, Reuters reported.

Erin Pedigo
2016/07/26

Update: Husky Oil Spill Reaches Second Canadian City

Farms outside the city of Prince Albert, Saskatchewan, that rely on city water have had supplies cut off, Reuters reported. 

Erin Pedigo
2016/07/25

Shell, Phillips Boost Shares In Explorer Pipeline

Midstream majors Shell and Phillips buy additional equity interest in Explorer Pipeline Co.

2016/07/25

Service & Supply

Recovery In Sight, Schlumberger Mulls Rollback Of Concessions

Oilfield services companies were forced to cut rates after oil producers slashed their capital budgets in response to a slide in crude prices to their lowest in more than a decade.

2016/07/22

Halliburton Expects 'Modest Uptick' In North American Rig Count

The rig count in North America has improved by 26 over the last several weeks, Halliburton said on July 20."We believe the North America market has turned," CEO Lesar says.

Emily Moser
2016/07/20

U.S. Silica Buys New Grit In Texas

The company has inked two deals in 2016 and says it has more opportunities it is exploring as it expands during the downturn.

Darren Barbee
2016/07/19

Houston's AFGlobal To Buy Managed Pressure Operations

The combination of companies creates a complete deepwater managed pressure drilling offering, with technology covering both onshore and offshore applications, according to the release.

Emily Moser
2016/07/15