Acquisitions Divestitures

Exclusives

Latest Blank-Check Company Completes Upsized $414 Million IPO

Pure Acquisition, led by Jack D. Hightower, is the latest blank-check company to emerge with an industry veteran at its helm.

April 18, 2018

Tellurian's Howie: Haynesville-Bossier Gas Output Is Sufficient

John Howie, senior vice president of upstream for Tellurian, recently sat down with Hart Energy's Jessica Morales to discuss the company's business model and plans for future acquisitions.

April 17, 2018

Breitburn Bankruptcy Exit Sign Energy Industry Is Rebounding

The turnaround of Breitburn, which encountered many hurdles during its two-year Chapter 11 bankruptcy, indicates ‘better times in the energy industry.’

April 16, 2018

Cobalt’s US Gulf Of Mexico Bankruptcy Auction Pulls In $578 Million

The largest winning bid was a $339 million joint offer by Statoil and Total for Cobalt’s 60% operated interest in the North Platte discovery.

April 11, 2018

A&D - E&P

Big Data: Better The Devil You Know?

Everyone in oil and gas is talking Big Data, but is anyone doing anything about it?

2:00 pm

Marketed: Petroflow Energy Assets In Central Oklahoma, West Texas

Petroflow Energy Corp. has retained Stephens Inc. as its exclusive advisor in connection with the sale of its Central Oklahoma and West Texas assets.

10:50 am

Halliburton Writes Off Investment In Crisis-Hit Venezuela

Crude production in the country has dropped to less than half its level in 1998.

10:17 am

Shell, Inpex Near Finish Line In Race To Export North Australian LNG

Shell and Inpex are on the final stretch of a years-long race to export gas from offshore northern Australia, where both have spent billions of dollars building the world's biggest maritime vessels to grab a slice of Asia's booming LNG market.

8:36 am

Insight

EIA: US Oil Inventories Drop On Strong Demand

Oil prices rallied on the EIA inventories report, with U.S. West Texas Intermediate crude futures hitting a high of $68.45/bbl, the highest since December 2014.

April 18, 2018

Alberta Seeks To Cut Oil To British Columbia In Canada Pipeline Row

The Trans Mountain expansion issue has pitted Ottawa against British Columbia.

April 16, 2018

EIA: US Shale Output To Rise By 125,000 bbl/d In May

U.S. shale oil production is expected to increase in May for the fourth consecutive month, boosted by record production in the prolific Permian Basin of West Texas and New Mexico.

April 16, 2018

Oil Recoups Some Syria-Related Losses; Focus Switches To Iran

Oil recovered some ground on April 16, but prices were still down on the day as investor concern waned about escalating tensions in the Middle East following air strikes on Syria over the weekend.

April 16, 2018

Joint Ventures

Ares Management, ARM Energy Form JV To Develop Delaware Basin Midstream Company

Salt Creek will primarily be comprised of multiple cryogenic processing facilities, as well as gas and crude gathering pipelines, compression and treating facilities in the Delaware.

April 16, 2018

Chevron Green Lights Gorgon LNG Expansion Off West Australian Coast

Chevron Corp. (NYSE: CVX) will proceed with the second stage of its giant Gorgon LNG export plant off the northwest coast of Western Australia, the company said on April 14.

April 16, 2018

ExxonMobil, Qatar Reportedly In Talks For Potential US Shale Deal

The deal could take the shape of a joint venture in which Qatar could partner or invest in future wells with ExxonMobil's unit XTO Energy, the Wall Street Journal said.

April 10, 2018

Scrimmage Line: Comstock Sells Eagle Ford; Picks Up Cowboys Owner’s Cash

Dallas Cowboys owner Jerry Jones will invest $75 million in Comstock, but analysts throw down a penalty flag on Comstock’s Eagle Ford Shale divestiture and dilutive refinancing efforts.

April 3, 2018

Mergers & Acquisitions

Subsea 7 Makes $2 Billion Hostile Bid To Break Up McDermott's US Deal

Subsea 7 said in a statement on April 23 its bid proposal was subject to the termination of McDermott's pending transaction with CB&I.

April 23, 2018

Vermilion Energy To Buy Spartan Energy In C$1.4 Billion Deal

Spartan, which is a southeast Saskatchewan oil and gas producer, has annual production of about 23,000 barrels of oil equivalent per day.

April 16, 2018

Chinese Firm Reportedly Seeks To Restructure Deal For Alerian

ZZ Capital has missed two deadlines to close $800 million purchase.

April 11, 2018

Permian Could See More Deals Like Brazos

Brazos’ sale of midstream assets in the Delaware Basin reflects how the play is heating up.

April 10, 2018

Midstream

Phillips 66 Partners To Construct West Texas Crude Oil Pipeline System

Phillips 66 Partners said April 24 it has received sufficient binding commitments on an initial open season to proceed with construction of the Gray Oak Pipeline system.

4:34 pm

Enbridge Shares Fall On Minnesota Pipeline Route Ruling

Shares of Canadian pipeline operator Enbridge Inc. dropped more than 4% on April 24 after a Minnesota judge agreed the Line 3 oil pipeline replacement project was needed, but rejected the company's preferred route.

1:49 pm

Cheniere To Decide On Corpus Christi 3 LNG Export Terminal By End June

Liquefied natural gas (LNG) company Cheniere Energy Inc. said it planned to make a final investment decision to build the third liquefaction train at its Corpus Christi LNG export facility in Texas in the first half of 2018.

8:43 am

Will Canada's Oil, Gas Industry Miss Out On Growing Global Demand Opportunities?

CAPP’s latest economic study tells why Canada’s oil and gas industry is at risk for missing  out on the opportunities from growing  demand as the world’s population—particularly in Asia— increases.

6:00 am

Service & Supply

McDermott Loan Slides As Investors Digest Subsea 7’s Hostile Bid

U.S. engineering firm McDermott’s US$2.26 billion term loan fell in the secondary loan market on April 24 after a US$2 billion unsolicited bid from offshore oil services firm Subsea 7 threatened to break up McDermott’s agreed bid for onshore engineering firm Chicago Bridge & Iron (CB&I).

1:23 pm

Saipem Scouting Around As Subsea 7 Bid Makes Waves

Italian oil services group Saipem is looking round for growth opportunities after a bid by rival Subsea 7 for U.S. contractor McDermott sent waves through the sector.

8:31 am

Halliburton Posts 1Q Gain Despite Operational Challenges

Halliburton posts a 34% increase over the same period last year. The company has delivered the highest returns in the industry for the last five quarters, its CEO said.

April 23, 2018

McDermott To Retain Name When CB&I Combination Closes

McDermott International Inc. (NYSE:MDR) and CB&I (NYSE:CBI) said that following the closing of the combination, the combined company intends to retain the name McDermott.          

April 23, 2018