Acquisitions & Divestitures

A&D - E&P

US Rig Count Is Set For Biggest Quarterly Rise In 2 Years

The combined number of oil and gas rigs active so far this year has averaged 480 rigs, according to Baker Hughes data, Reuters reported.


Mexico Energy Secretary: Reforms Ride Out Tempest

Mexico’s energy company is struggling and auctions continue to lag, particular in unconventional areas.


The Haynesville: Back At The Bottom Of The Well

Once the leading U.S. natural gas play, the Haynesville is generating interest due to LNG and improved economics.


Canacol Upsizes 2016 Capital Plan To Accelerate Colombia Gas Drilling

Canacol expects 2016 to have near-record EBITDAX of about $135 million.



Oil Prices On The Rise For Second Day

Brent crude futures rose 44 cents to $47.27/bbl by 6 a.m. CT (11 GMT), or a 3.2% gain so far this week, while West Texas Intermediate oil futures were up 47 cents at $45.81/bbl.


Permian Scorches A&D Market Despite Oil Price; Midstream Considers Combos

Some form of consolidation may be coming for certain sectors of the oil and gas industry.


Shell President Talks LNG, Climate Change And No-Wind Scenarios

From ‘keep it in the ground’ to natural gas as a bridge fuel for the future, Bruce Culpepper offers scenarios for oil and gas in 2050.


EIA: US Crude Inventories Down Sharply

Crude inventories fell by 6.2 million barrels in the week to Sept. 16, compared with analysts' expectations for an increase of 3.4 million barrels. Crude stocks at the Cushing, Okla., delivery hub rose by 526,000 barrels, EIA said.


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.


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.


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.


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.


Mergers & Acquistions

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.


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.


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. 


Enterprise Products Withdraws Takeover Bid For Williams

Enterprise Product Partners' approach came after Energy Transfer Equity LP terminated its merger agreement with Williams in June after a prolonged legal battle, Reuters reported.



Gas Price Spikes In LA Tied To Aliso Canyon Troubles

Southern California gas prices this summer have careened wildly as a result of restrictions on Aliso Canyon storage facility, EIA said.


Sunoco, Future Operator Of Dakota Access, Had More Than 200 Leaks Since 2010

In September, Sunoco received another corrective measure for its newly constructed Permian Express II line in Texas, which leaked 800 bbl of oil earlier in September, Reuters reported.


Asia's Oil Refiners Can Select From More Than 300 Crude Grades

Asian refiners are seeking new sources as Middle East condensate supply tightens and as they start to prefer more heavy sour crude, or thicker oil with a high amount of sulfur, Reuters reported. 


US And Canadian Native Tribes Form Alliance To Halt Oil Pipelines

The oil-rich province of Alberta is reeling from a crash in commodity prices, partly due to insufficient means of moving oil to lucrative international markets, Reuters reported. 


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.


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.


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.


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.