Acquisitions & Divestitures

A&D - E&P

ExxonMobil Executes, Pursues Growth Despite Volatility

ExxonMobil saw its earnings fall in the second quarter to $1.7 billion, a nearly 60% drop from the same period in 2015

2016/07/29

Marketed: Callon Petroleum’s Midland Basin Horizontal Wolfcamp

The offering includes operated, HBP leasehold mainly in Crockett County, Texas, and leasehold operated by Apache in Upton County, Texas. Lantana Energy Advisors is handling the sale.

Emily Moser
2016/07/29

Whiting’s Second Quarter Miss Ends With North Ward Estes Sale

The company missed analyst production estimates, but has restarted its Williston Basin program and will increase capex by $50 million for the year.

Darren Barbee
2016/07/29

US Fracking Costs Competitive With Saudis, Pioneer's Scott Sheffield Says

On Pioneer's second-quarter results call, Sheffield said that production costs have fallen to $2.25 a barrel on horizontal wells in the Permian Basin of West Texas, so it is nearly on even footing with low-cost producers of conventional oil.

Emily Moser
2016/07/29

Insight

LNG Markets Must Prepare For Long-Term Changes

Despite growing global demand for LNG, prices have not followed suit because of its link with crude though abundant shale production in the U.S. might change that.

Emily Moser
2016/07/29

Oil Faces Big Monthly Loss As Oversupply Bites

Because of ongoing oversupply, U.S. bank Goldman Sachs said this week that it did not expect a big recovery in prices any time soon. Despite this, some analysts said recent price falls in oil had been overdone.

Emily Moser
2016/07/29

US Fracking Costs Competitive With Saudis, Pioneer's Scott Sheffield Says

On Pioneer's second-quarter results call, Sheffield said that production costs have fallen to $2.25 a barrel on horizontal wells in the Permian Basin of West Texas, so it is nearly on even footing with low-cost producers of conventional oil.

Emily Moser
2016/07/29

Canadian Oil Sands Producers Mull New Investments

Around 20 projects in northern Alberta's vast oil sands had been put on hold since mid-2014. Analysts cautioned against concluding that oil sands growth would rebound rapidly.

Emily Moser
2016/07/29

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

M&A Deals Jump In Volume, Fall In Value

Smaller upstream M&A transactions drive overall rise in second-quarter 2016, but midstream deals topple from perch, PwC report says.

2016/07/28

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

Midstream

LNG Markets Must Prepare For Long-Term Changes

Despite growing global demand for LNG, prices have not followed suit because of its link with crude though abundant shale production in the U.S. might change that.

Emily Moser
2016/07/29

Shell, Phillips Boost Shares In Explorer Pipeline

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

2016/07/28

TransCanada Profit Beats Expectations; Asset Sales On Track

The pipeline company said on July 28 that the process of engaging advisers has been completed for the asset sales, and that it was in the initial stages of soliciting interested parties.

Emily Moser
2016/07/28

Saskatchewan’s Premier Unsatisfied With Husky’s Oil Spill Response

Spill is smaller than some previous ones in Saskatchewan, but it is taking a bigger toll on wildlife because it involves a major river, said Peter Prebble, director of environmental policy at the Saskatchewan Environmental Society, Reuters reported.

Erin Pedigo
2016/07/27

Service & Supply

Baker Hughes: North America Recovery Unlikely This Year

Baker Hughes' outlook was more "sanguine" than its peers', said Evercore ISI analyst James West, noting that oil prices have slid from last week, when Schlumberger and Halliburton reported results.

Emily Moser
2016/07/29

Flotek Expands Chemistry Business With International Polymerics Acquisition

Founded in 2004 by Donal Bramblett, IPI president, the company is one of the largest domestic suppliers of natural polymers, including guar, to the industry, according to a press release.

Emily Moser
2016/07/27

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