Acquisitions & Divestitures

A&D - E&P

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

Contango Enters Permian With Deal For Delaware Interests

Contango’s acquisition includes about 157 gross potential locations across the Wolfcamp A and B and Bone Spring formations, which the company plans to start drilling by October.

Emily Moser
2016/07/21

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

Diamondback Closes $565 Million Equity Offering To Fund Delaware Deal

Diamondback said it will use the proceeds, together with cash on hand, to foot the $560 million bill from its recent Delaware Basin acquisition.

Emily Moser
2016/07/21

Insight

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

Report: US Crude Stockpiles Fall, Gasoline Builds

Crude inventories fell 2.3 MMbbl in the week ending July 15, data from the statistical arm of the Energy Department showed, largely in line with analysts' expectations for a decrease of 2.1 MMbbl.

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

At Least 40% Of Western Canada Oil Spill Recovered, Officials Say

The heavy oil and diluent leaked from Husky Energy Inc.'s Saskatchewan gathering system pipeline on July 21, flowing into the North Saskatchewan River.

Emily Moser
2016/07/25

Chevron Signs LNG Agreement With Chinese Energy Company

A subsidiary of the San Ramon, Calif.-based company signed an agreement with a JOVO subsidiary for the delivery of up to 0.5 million metric tons per annum of LNG over five years.

Emily Moser
2016/07/21

J-W Energy Exits Upstream, Midstream To Focus On Compression Services

The Dallas company sold substantially all of its assets, which included about 95,000 net acres and 380 miles of associated gathering and processing infrastructure in North Louisiana and North Texas, to Aethon United for an undisclosed amount.

Emily Moser
2016/07/21

Cheniere's Sabine Pass LNG Plant To Close In September For Upkeep

The plant, which started-up in February and has exported 18 cargoes to date, can produce around 4.5 million tonnes of LNG per year from its one existing production line, known as train 1.

Emily Moser
2016/07/19

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