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Acquisitions & Divestitures

A&D - E&P

As Crude Rises Highest In Over A Year, US Drillers Add Rigs

The Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May as U.S. crude collapsed from over $107 a barrel in June 2014 to near $26 in February 2016, Reuters reported.

2016/12/02

Private-Equity Funds Seek Southeast Asia E&P Assets

Mandala Energy,  backed by KKR, will invest almost $180 million for a 35% stake in the Lemang production-sharing contract from Ramba Energy's subsidiary PT Hexindo Gemilang Jaya in Indonesia, Reuters reported.

2016/12/01

OPEC Just Made A Deal: Now What?

The OPEC deal could change the landscape of the oil market for the foreseeable future, but the specifics have yet to be determined.

2016/12/01

All About That Stack

Midcontinent operators turn to acquisitions and DrillCo structures in their quest to drill the Meramec, Woodford and other horizons.

2016/12/01

Insight

Oil Prices Hit Six-Week High Following OPEC Deal

West Texas Intermediate added to overnight gains of 9% to reach $50 a barrel for the first time since October. Brent crude, which soared $4 overnight, touched a six-week peak of $52.73 a barrel.

2016/12/01

EIA: US Crude Output Falls; September Oil Demand Rises

U.S. oil demand in September rose by 2.3%, or 446,000 barrels per day, from a year ago to 19.86 million barrels per day, according to the EIA.

2016/12/01

Breakeven Rundown: Mediterranean, GoM Gas Outshine Others

Report shows breakeven prices for natural gas developments in the Mediterranean Sea and the U.S. Gulf of Mexico are among the lowest in the world.

2016/11/30

Oil Prices Jump On Prospects Of Big Output Cut By OPEC

A source told Reuters that OPEC delegates were now discussing a bigger than expected cut in production of 1.4 million barrels per day.

2016/11/30

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.

2016/12/02

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.

2016/11/28

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.

2016/11/21

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. 

2016/11/14

Mergers & Acquistions

Lower Prices Can Impact E&P Acquisitions

M&A deals with gathering agreements designed during high commodity price environment become more complex when prices fall, says consultant.

2016/12/02

Petrocapita Acquires Shares Of Crucible Resources Corp.

The term of the debenture is seven years and is convertible into Petrocapita common trust units on or after Dec. 31, 2017. 

2016/12/01

Report: Maersk And DONG Energy Discuss $10 Billion Operations Merger

Maersk Oil has suffered a series of setbacks, first and foremost when Qatar chose not to extend its 25-year license to operate the giant Al Shaheen Field, Reuters reported.

2016/11/28

Dealmakers Tudor, Pickering, Holt To Combine With Global Firm

The energy investment firm will continue to operate as Tudor, Pickering, Holt & Co. under the Perella Weinberg umbrella.

2016/11/14

Midstream

Global LNG Prices Reach 2016 High Point On OPEC Cut

Spot prices for Asian LNG rose 30 cents from the week of Nov. 21 to about $7.40 per million British thermal units (MMBtu), trading sources said.

2016/12/02

Lower Prices Can Impact E&P Acquisitions

M&A deals with gathering agreements designed during high commodity price environment become more complex when prices fall, says consultant.

2016/12/02

Aliso Canyon Safety Review Expected To Be Completed In Early 2017

SoCalGas cannot inject fuel into the field until DOGGR and the California Public Utilities Commission (PUC) confirm the field is safe, Reuters reported.

2016/12/01

Japan's JERA: OPEC Cut Might Impact LNG Markets If Prices Keep Rising

High oil prices hit buyers hard, particularly in Japan after the Fukushima nuclear disaster of 2011 shut down reactors and forced them to switch to LNG to produce electricity.

2016/12/01

Service & Supply

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.

2016/12/02

RTS Opens Inspection Facility In The Permian Basin

The new location offers comprehensive tubing inspection, reconditioning, repair and inventory management services to oil and gas operators in the Permian Basin. 

2016/11/18

Rubicon Oilfield International Grows With Top-Co Acquisition

Founded in 1963, Top-Co supplies oilfield casing, cementing and completion products to customers around the world. Terms of the transaction weren't disclosed.

2016/11/14

Weatherford CEO Bernard Duroc-Danner Leaves

The oilfield services company named CFO Krishna Shivram its interim CEO. Shivram will continue as CFO until that position is filled.

2016/11/09