Acquisitions Divestitures

Exclusives

E&Ps Defy Uncooperative Market, Continue Deal Making

Oil and gas producers are increasingly under siege by investors—activists and otherwise, most recently targeting Denbury Resources’ purchase of Penn Virginia.

December 10, 2018

Headlines: All Eyes On Vienna, Oil Cut Agreement Waits On Russia

Plus, Mexico's new president takes a stance with oil majors, Berry Petroleum exits East Texas for California and Scotland-based Wood to build an NGL pipeline in West Texas.

December 6, 2018

Berry Petroleum Exits East Texas To Focus On California Black Oil

An undisclosed company, which Berry Petroleum CEO Trem Smith described as a local operator, agreed to acquire the East Texas Basin position where production is 100% gas for $6.7 million.

December 4, 2018

Forty Under 40: Austin T. Lee, Bracewell

Austin T. Lee, Bracewell partner who helped lead the team that represented Parsley Energy in its $2.8 billion acquisition of Double Eagle Energy last year, is today’s Forty Under 40 honoree.

December 3, 2018

A&D - E&P

Hess Sees Oil Output Growing Driven By Bakken, Offshore Guyana Projects

Hess expects oil output to grow more than 10% per year compounded through 2025, citing higher growth opportunities at its Bakken shale and offshore Guyana projects.

3:00 pm

Marketed: Butkin Oil Operated Conventional Oklahoma Properties

Butkin Oil retained RedOaks Energy Advisors to sell certain operated, conventional oil properties in Carter and Stephens counties, Okla.

11:45 am

Marathon Oil’s Early Test Results Extend Bakken Core Position

In addition to strong Bakken core extension test results, Marathon Oil also continued to chip away at its remaining $1 billion share buyback program.

11:00 am

OPEC Needs To Cut Output By 700,000 bbl/d More For Brent To Hit $70

Oil producer cartel OPEC and its partners will need to keep production lower than their agreed target through 2019 for benchmark Brent crude to come back to $70 a barrel (bbl), oil and gas consultancy Rystad Energy said.

9:22 am

Insight

Oil Market: Searching For A Balance

Other key producers can help offset Iranian sanctions, but balancing global oil markets hinges mainly on Saudi Arabia’s spare capacity. How much is it?

3:30 pm

US Expected To End 2018 As World's Top Oil Producer, EIA Says

A shale revolution has helped the U.S. produce a record amount of oil this year and topple Russia and Saudi Arabia as the world's biggest producer.

December 11, 2018

Chaparral Energy CEO Talks Execution In Stack, Merge

Earl Reynolds, Chaparral Energy CEO, recently discussed with Hart Energy what allowed recent success in the company's positions in Garfield and Canadian counties, plus an interesting employee compensation plan tied to productivity.

December 7, 2018

Mineral Acreage, Financial Backing Ignites Competitiveness In Scoop/Stack

Competition is having a tremendous effect on shaping the new environment among Oklahoma’s Scoop and Stack plays.

December 6, 2018

Joint Ventures

U.S. Well Services Finalizes Third Electric Frack Contract With Apache

U.S. Well Services Inc. (NASDAQ: USWS) has signed an electric frack fleet contract with Apache Corp. (NYSE: APA), the company said Dec. 12.

8:13 am

US Solar Developer 8minutenergy In $200 Million Joint Venture

8minutenergy will use the more than $200 million from the JV to develop solar projects throughout the U.S. over the next five years, including in California, Texas and the U.S. Southeast.

December 11, 2018

Murphy Oil Raises Production Outlook Following Petrobras GoM JV Closing

Following the closing the GoM JV with Petrobras, Murphy Oil also raised its full-year capex outlook and expects to use some of the cash flow to accelerate activity in the Eagle Ford.

December 3, 2018

Aramco Eyes Bigger Market Share In Asia Ahead Of Possible OPEC Cut

Saudi Aramco will expand its market share in Asia despite likely OPEC limits on output next year, and is eyeing deals in China and Africa as it aims to become a global leader in chemicals, the head of the world’s top oil producer said on Nov. 26.

November 26, 2018

Mergers & Acquisitions

Cavalcade Midstream Makes $150 Million Partnership With Pearl, Old Ironsides, NGP

San Antonio-based newcomer is focusing on projects in the Permian Basin.

10:36 am

DNO Presses On With Faroe Petroleum Takeover Offer Despite Board Rejection

The board of Faroe Petroleum, in which DNO already owns 28%, has said the company was worth substantially more than DNO's takeover bid, first announced on Nov. 26.

7:50 am

Akastor’s Wellsite Geology Service Company First Geo To Combine With AGR

Akastor will create a leading provider of well-, reservoir- and software services through the combination of AGR and the Norway-based oil services investment company’s subsidiary First Geo.

December 7, 2018

Transocean Closes $2.7 Billion Acquisition Of Ocean Rig

Transocean’s CEO said the Ocean Rig acquisition will enhance the Swiss-based drilling rig contractor’s fleet of ultradeepwater and harsh environment floaters without compromising its liquidity.

December 6, 2018

Midstream

Midstream’s Next Gen Technology

Multiple methods can be put into place to protect pipelines and other assets.

1:51 pm

Oil Traders Eye Cushing Builds As Sunrise Startup Shifts Flows

Builds from the early startup of the Sunrise pipeline are expected to continue into 2019.

11:19 am

USD Partners Contract Will Support New Pipeline Connection, More Storage Capacity At Casper Terminal

Three-year deal will support construction of an outbound connection to the Express Pipeline and a tank to facilitate blending.

10:56 am

Hess To Sell Bakken Water Business In $225 Million Proposed Deal

Hess is looking to sell its Bakken water services business in a proposed $225 million-cash transaction with a midstream energy joint venture between Hess and Global Infrastructure Partners.

8:45 am

Service & Supply

Conservation Groups Sue Trump Administration Over Seismic Testing In Atlantic Ocean

Environmental groups opposed to offshore drilling sued the federal government to prevent future seismic tests for oil and gas deposits in Atlantic waters off the U.S. East Coast.

December 11, 2018

Forty Under 40: Kyle Ramachandran, Solaris Oilfield Infrastructure

Today’s Forty Under 40 honoree is Kyle Ramachandran, Solaris Oilfield Infrastructure’s president and CFO who helped form the Houston-based company when he was 29 years old.

December 11, 2018

Forty Under 40: Manuj Nikhanj, RS Energy Group

Manuj Nikhanj, who helps steer RS Energy Group as president and co-CEO of the Calgary, Alberta-based intelligence firm, is today’s Forty Under 40 honoree.

December 10, 2018

Nine Energy Service Promotes David Crombie To Serve As COO

David Crombie, who previously served as president of completion solutions and executive vice president, brings over two decades of experience to his latest role as COO at Nine Energy Service.

December 5, 2018