Acquisitions & Divestitures

A&D - E&P

Eagle Ford Frack Water Challenges To Parallel Price Recovery

An elevated amount of water used in the Eagle Ford could lead to logistical problems when oil prices increase.

2016/09/28

Eni Seeks Loans To Develop Coral Gas Field Offshore Mozambique

Reserves recently discovered in Mozambique's Rovuma Basin amount to about 85 trillion cubic feet, enough to supply Germany, Britain, France and Italy for nearly two decades, Reuters reported.

2016/09/27

Jones Energy Closes Stack/Scoop Acquisition; Opens Oklahoma City Office

Jones had entered the agreement Aug. 18 to acquire about 18,000 net acres primarily in southern Canadian and northern Grady counties in Oklahoma from an associated company of American Energy Partners.

2016/09/27

Rice Energy Makes Dry Gas Run With $2.7 Billion Deal

Rice said that its deal to buy Vantage Energy’s Marcellus, Utica and Barnett shale assets will increase its enterprise value to $9 billion.

2016/09/26

Insight

OPEC Agrees To Stop The Bleeding At 32.5 MMbbl/d

The producing group will agree to concrete levels of production by each country at its next formal meeting in November, sources say.

2016/09/28

OPEC: Saudis Soften Oil Stance On Iran, But Deal Still Elusive

OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran.

2016/09/28

Oil Climbs Following US Inventory Draw

Data from the American Petroleum Institute showed crude stocks fell 752,000 bbl in the week to Sept. 23 to 506.4 MMbbl, compared with a forecast of a 2.8 MMbbl build by analysts polled by Reuters.

2016/09/28

Oil Prices Slip As Output Deal By OPEC Fades

Saudi Arabia on Sept. 27 dashed hopes that OPEC oil producers could clinch a deal in Algeria this week after sources within the exporter group said differences between the kingdom and rival Iran remained too wide.

2016/09/27

Joint Ventures

Qatar Considers Joining Exxon To Buy Stake In Eni's Mozambique Gas Area

Located in Mozambique's Rovuma Basin, Eni's Area 4 is one of the biggest recent discoveries, holding about 85 trillion cubic feet of gas, Reuters reported.

2016/09/12

Lucas Energy Lands Deal To Fund Eagle Ford Shale Development

Lucas will initially participate in the Cyclone #9H and #10H wells on Lonestar's Harvey Johnson lease in southern Gonzales County in South Texas.

2016/08/29

JV Agreements For Sandpiper Pipeline Are Scrapped

With oil hovering near $40/bbl and narrow pricing differentials between regions, concerns about overcapacity are hitting midstream operators in numerous parts of the country, Reuters reported.

2016/08/04

STACK Pipeline LLC Formed For Transporting Oklahoma Oil

Phillips 66 Partners contributed $50 million cash, which will be distributed to Plains, in exchange for a 50% interest in the JV.

2016/08/04

Mergers & Acquistions

TransCanada's Columbia Pipeline Offers To Buy MLP For $848 Million

TransCanada, which completed its $10.3 billion takeover of Columbia Pipeline Group in July, had said it was reviewing strategic alternatives for MLP holdings, including Columbia Pipeline Partners.

2016/09/26

Range Resources Closes $4.2 Billion Merger With Memorial

The value of the all-stock transaction, which included the assumption of Memorial Resource's debt, was about $200 million less than originally reported when the deal was announced May 16.

2016/09/19

Clariant To Buy Permian-Focused Oilfield Service Companies

Clariant is buying Kel-Tech Inc. of Midland, Texas, from private equity firm Arsenal Capital Partners and Irving, Texas-based X-Chem LLC from NCH Corp., with the deal to be completed on Oct. 1.

2016/09/14

Canadian Energy Asset Sales Could Pick Up In Coming Months

Large- and mid-sized energy companies with the resources to buy assets, as well as private-equity firms, have mostly shown restraint despite the drop in oil prices, Reuters reported. 

2016/09/13

Midstream

Canada Must Decide Whether To Double Trans Mountain Pipeline Capacity

The Trans Mountain twinning would allow producers to transport more crude to tidewater, where they can get higher prices. Canadian crude trades at a discount, in part because of pipeline capacity shortages, Reuters reported.

2016/09/28

Sempra’s IEnova Completes Acquisition Of Pemex Stake In Mexico Pipeline JV

Pemex will retain 50% shareholder interest in the Ramones II Norte Pipeline project through Ductos y Energeticos del Norte S de RL de CV.  

2016/09/28

Whiting's Volker: Tribal Service Deals Could Help Dakota Access Impasse

Jim Volker, Whiting's CEO, said concerns would be best addressed through economic opportunities, including contracting with American Indian-owned firms for water hauling and other oilfield service.

2016/09/28

Shell Midstream Acquires Interests In GoM Assets For $350 Million

For $350 million, the Houston company will buy an additional 20% equity interest in Mars Oil Pipeline Co. and a 49% equity interest in Odyssey Pipeline LLC.

2016/09/28

Service & Supply

RockPile Bolsters Bakken Workover Rig Business With Acquisition

The acquisition marks RockPile's first deal after being acquired by White Deer Energy on Sept. 8. Denver-based RockPile was a subsidiary of Triangle Petroleum, which filed for chapter 11 in June.

2016/09/19

Team Oil Tools Buys Top Notch With Permian, Eagle Ford Ops

Based in Corpus Christi, Texas, Top Notch is a provider of thru tubing, fishing and milling services with operations across the Eagle Ford and Permian Basin markets.

2016/09/15

Patterson-UTI Energy To Acquire Drilling Technology Company

Houston-based Patterson-UTI said it entered an agreement to acquire Warrior Rig, which designs, manufactures and services high-spec rig components with a recent focus on top drive technology for improved drilling performance.

2016/09/14

Clariant To Buy Permian-Focused Oilfield Service Companies

Clariant is buying Kel-Tech Inc. of Midland, Texas, from private equity firm Arsenal Capital Partners and Irving, Texas-based X-Chem LLC from NCH Corp., with the deal to be completed on Oct. 1.

2016/09/14