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Acquisitions & Divestitures

A&D - E&P

Escalating Permian Valuations Start To Squeeze E&Ps

The Delaware Basin has caught up to the Permian in acreage valuations through multiple high-profile deals. But can they make money?


Report: Oil Production Facilities In Iraq's Kirkuk Not Targeted In Islamic State Attack

Kurdish Peshmerga fighters took control of Kirkuk in 2014, after the Iraqi army withdrew from the region, fleeing an Islamic State advance through northern and western Iraq. The hardline group also controls part of neighboring Syria. 


Oil Rises On Russia’s Output Freeze Commitment

Russian Energy Minister Alexander Novak said on Oct. 21 an oil production freeze agreement was necessary to prop up prices and that he would make proposals to his Saudi Arabian counterpart this weekend.


Auction: Utah, Wyoming State Leases

Sealed-bids for about 77,500 acres in Utah are currently being accepted. Wyoming will also auction 30 parcels for lease with bids accepted Oct. 24.



EIA: US Crude Stocks Fall Sharply As Imports Drop

Oil prices rose on the news, with U.S. crude hitting a high not seen since July of last year. West Texas Intermediate crude extended gains to $51.65/bbl, up 2.7%, while Brent crude gained 2.2% to $52.79/bbl.


Saudi Arabia's Energy Minister: Oil Market Nears End Of Downturn

Saudi Arabia's Khalid al-Falih gave an upbeat message to an audience of industry executives on Oct. 19, saying the oil market was at the end of a downturn and producer action to limit supply would help it improve further.


Saudi Arabia: August Oil Output Fell From Record High

After the kingdom pumped a record high 10.673 million barrels per day in July due to summer demand and requests from customers, its August output dropped to 10.63 million barrels per day.


Oil Prices Rise On Market Balance Forecasts

Brent crude rose 38 cents, or 0.8%, to $51.90 a barrel by 6 a.m. CT (11 GMT) on Oct. 18. U.S. West Texas Intermediate (WTI) crude was up 45 cents, at $50.39.


Joint Ventures

Gastar Refuels With Stack JV, Noncore Sale

Several maneuvers to free liquidity will likely fund the Houston-based company through 2018, analysts said.


Mexico Gives Bidders More Time For First-Ever Deepwater Venture

Mexico's oil regulator gave oil companies an extra week to submit comments and questions about the country's first-ever deepwater joint venture covering state oil company Pemex's Trion Field.


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.


Mergers & Acquistions

Woodside Petroleum Sees A&D Activity Heating Up

Woodside, Australia's biggest independent oil and gas producer, has announced two deals over the past four months together worth up to $830 million.


Land Ho! Dril-Quip Comes Ashore In $143 Million Deal

The company picks up TIW Corp., founded during the First World War, for its first acquisition since it was formed in 1981.


RSP Permian Upsizes Equity Offering To Fund Silver Hill Deal

RSP expects total gross proceeds of about $874.5 million from the offering, which will be used to pay for its purchase of Silver Hill. If the acquisition doesn't occur, RSP will use the proceeds to fund its 2017 capital budget.


RSP Permian Buys Delaware Basin’s Silver Hill For $2.4 Billion

The acquisition complements RSP's Permian portfolio, where it operates in the Midland Basin.



Several Countries Seek LNG Tenders For Near-Term Delivery

South Korea's demand is seen as a potentially key determinant of winter spot LNG prices in Asia because the country has to replace so much lost nuclear output caused by September's earthquake, Reuters reported.


Martin Midstream Will Sell Corpus Christi Terminal For $107 Million

The transaction is subject to customary closing conditions including antitrust approval, and is scheduled to close before year-end 2016. 


Analysts: Hostility To Pipelines Not Limited To Dakota Access

Delays hinder DAPL and other pipeline projects nationwide as anti-fossil fuel movement adapts strategy to local terrains.


Canada's Alliance Gas Pipeline Resumes Service After Maintenance Work

The pipeline is one of the most important liquids-rich natural gas conduits between western Canada's Montney region and the Chicago market hub, Reuters reported.


Service & Supply

Schlumberger Sees Early Signs Of Recovery In Most Markets

The company reported a quarterly profit that topped analysts’ expectations on Oct. 20, helped by cost cuts and a ramp up in drilling activity in North America.


Land Ho! Dril-Quip Comes Ashore In $143 Million Deal

The company picks up TIW Corp., founded during the First World War, for its first acquisition since it was formed in 1981.


Halliburton Posts Surprise Quarterly Profit On Cost Cuts

Halliburton, the world's second largest oilfield services provider, posted Oct. 19 a surprise quarterly profit, helped by higher cost cuts, and said it expected a rise in oil prices to boost rig count.


Oceaneering Expands Subsea Services With $30 Million Acquisition

Oceaneering International said Oct. 17 it acquired the assets of Blue Ocean Technologies, which is a privately held provider of riserless light well intervention.