Acquisitions & Divestitures

A&D - E&P

Painted Pony To Swap British Columbia Montney Acreage, Wells

The Calgary, Alberta-based company entered an asset exchange agreement with a large industry partner on jointly-held acreage to exchange 15.4 net sections (9,856 net acres) from its Montney asset.

Emily Moser
2016/07/28

Hess Pursues Schlumberger Over Defective Valve Used On GoM Project

"It's extremely disappointing," Greg Hill, COO of Hess, said on the earnings call of the alleged defective valve, Reuters reported.

Erin Pedigo
2016/07/27

Anadarko Survives Rough Ride In Second Quarter

The company reported a net loss of $692 million for second-quarter 2016, an improvement from the $1 billion loss recorded the quarter before.

2016/07/27

Marketed: Producing Eagle Ford Well Interests, Murphy Oil

In one package, Murphy is offering operated interest in nine wells in Atascosa County, Texas. The company is also selling interest in 36 wells operated by Hunt Oil Co. in La Salle and McMullen counties, Texas.

Emily Moser
2016/07/27

Insight

Islamic State's Oil Revenue Dives After Losing Iraqi Territory, Officials Say

The jihadist group has lost control of a series of oil fields, and is having to sell what production that remains at steep discounts to persuade truck drivers to collect it and run the gauntlet of U.S.-led air strikes.

Emily Moser
2016/07/28

Investors Eye Signs Of Improvements In US Energy Earnings, Analysts Say

After a nearly two-year slide in crude, higher oil prices may lead to higher production this year and in 2017, investors believe. However, a lot depends on whether the big rally in oil prices from February lows has run its course.

Emily Moser
2016/07/28

Oil Falls Close To Three-Month Lows As Oversupply Weighs

Weekly industry data from the American Petroleum Institute late on July 26 showed that U.S. crude stocks fell by 827,000 barrels in the week to July 22, well short of the 2.3 million barrel draw that had been expected.

Emily Moser
2016/07/27

Renewed Oil Weakness Sparks Demand Fears, Analysts Say

Instead of seeing $60 a barrel, which would support an increase in production, the demand questions, and ongoing supply concerns, mean oil could fall further. U.S. crude settled at $43.13 on July 25, after earlier hitting a three-month low.

Emily Moser
2016/07/26

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

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

Husky Energy: Pipeline Began Leaking Oil A Day Before Crews Arrived

The 19-year-old pipeline transports heavy oil and helps supply Husky's Lloydminster upgrader, Reuters said.

Erin Pedigo
2016/07/26

Bidders Including Macquarie Consider Stake In Gas Connect Austria

Austrian energy group OMV, which is 31.5% owned by the state, is selling a 49% stake in Gas Connect Austria to raise cash to fund investments, Reuters reported.

Erin Pedigo
2016/07/26

Service & Supply

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

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