Acquisitions Divestitures

Exclusives

US GoM Lease Sale Nets More Than $178 Million In High Bids

Preliminary sale statistics show 29 companies placed 171 bids on 144 blocks in the U.S. GoM.

August 15, 2018

Diamondback To Acquire Energen In $9.2 Billion All-Stock Deal

The transaction comes days after Diamondback Energy said it would add to its Northern Midland position with the roughly $1.25 billion cash-and-stock purchase of Ajax Resources.

August 14, 2018

Carrizo Acquires Devon Acreage In Delaware Basin For $215 Million

Carrizo now has 46,000 net acres in the Delaware Basin including 26,300 net acres in its Phantom area.

August 14, 2018

E&P Deal Flow Dilemma

The change in investor sentiment has in turn altered how private-equity sponsors and portfolio companies exit.

August 14, 2018

A&D - E&P

Summer NAPE: Industry Advocate Urges Energy Sector To Challenge Critics

There are 2,000 groups spending $600 million on anti-energy and related campaigns in 2018, according to HBW Resources.

August 17, 2018

Saudi Aramco Remains Committed To Meeting Future Oil Demand

The company discovered two new oil fields, Sakab and Zumul, and a gas reservoir in the Sahba Field, Aramco said in the report.

August 17, 2018

Summer NAPE: Oil Companies Look To Form Partnerships

Acreage in the Louisiana Austin Chalk and Anadarko Basin’s Oswego Formation were among the prospects presented during Summer NAPE.

August 17, 2018

BP Bets Big On Shale For Its US Comeback

Onshore push signals renewed confidence eight years after Macondo.

August 17, 2018

Insight

Report: Offshore Drilling Lacks Charm; OPEC’s Compliance Alters Supply, Demand

‘Onshore drilling just has better economics currently [and] cycle times also play a key role in offshore projects versus onshore drilling,’ said Sarp Ozkan, DrillingInfo’s director of energy analysis.

August 15, 2018

Will More Oil Companies Jump Into GoM Action?

As the next U.S. Gulf of Mexico lease sale nears, analysts believe there could be a slight increase in bidding activity.

August 13, 2018

Trade Offs: Permian Could Be Tariff Casualty

U.S. tariffs on steel are biting midstream companies working to open up Permian infrastructure for E&Ps, while China’s retaliatory tariffs may cut off a lucrative export market.

August 13, 2018

Cheniere CEO Sees No Impact From Chinese Tariffs On US LNG

One Bcf of gas is enough to fuel about 5 million U.S. homes for a day.

August 9, 2018

Joint Ventures

S.T.L. Resources Executes Partnership With UGI Energy Services

S.T.L. Resources, an independent oil and gas company focused on Appalachian Basin assets, announced it recently closed on a strategic partnership with an affiliate of UGI Energy Services.

August 10, 2018

ExxonMobil Joins Kinder Morgan, EagleClaw, Apache On Permian Highway Pipeline Project

ExxonMobil signs a letter of intent; XTO Energy to be a shipper on pipeline.

August 10, 2018

Apache, Kayne Anderson Form Partnership, New Midstream Company

Altus Midstream will open with a market value of $3.5 billion as it becomes a power player in the Permian Basin.

August 8, 2018

Continental, Franco-Nevada Form JV To Acquire Scoop/Stack Minerals

Franco-Nevada will pay Continental about $220 million for a stake in a newly-formed subsidiary focused on minerals acquisitions in Oklahoma's Scoop and Stack shale plays.

August 6, 2018

Mergers & Acquisitions

Diamondback Energy Shares Drop On $9.2 Billion Deal For Shale Rival

Diamondback Energy Inc. (NASDAQ: FANG) shares fell 10% early on Aug. 15 following the U.S. oil and gas producer’s all-stock, $9.2 billion deal for shale rival Energen Corp. (NYSE: EGN).

August 15, 2018

Ensign Launches C$947 Million Takeover Bid For Trinidad Drilling

Analysts with Tudor, Picking, Holt & Co. said Ensign’s proposed acquisition of Trinidad would create one of the largest North American land drillers with critical mass in many key international markets.

August 13, 2018

HEADLINES: Permian Deals Dominate Week

In China, tariff rhetoric kept heating up, this time over LNG with the country threatening a 25% tariff on U.S. imports.

August 9, 2018

Houston-Based Directional Drilling Firm SDI Reportedly Seeking Buyer

The sale process for Houston-based SDI began recently, said three sources who spoke on condition of anonymity as the information has not been made public.

August 9, 2018

Midstream

US Judge Orders Review Of TransCanada's Keystone XL Pipeline Route

A federal judge in Montana has ordered the U.S. State Department to do a full environmental review of a revised route for the Keystone XL oil pipeline, possibly delaying its construction and dealing another setback to TransCanada Corp.

August 17, 2018

US Approves Cheniere Bid To Feed First Gas To Texas LNG Plant

The U.S. energy regulator has approved a request by Cheniere Energy to feed the first gas into its new LNG facility in Corpus Christi, Texas, marking the beginning of a commissioning phase for the export terminal.

August 17, 2018

Frac Spread: With Great LPG Supply Comes Great Exportability

Upward trajectory of emerging markets, particularly in Southeast Asia, present opportunity for growing production in the U.S.

August 16, 2018

Swiss Utility In LNG Supply Talks With Canada's Goldboro Project

Axpo, a Swiss utility and energy trader, said on Aug. 16 it was in talks with a Canadian company planning to build a LNG terminal on the country's East Coast for a 10-year supply deal.

August 16, 2018

Service & Supply

Saudi Cuts Oil Output As OPEC Points To 2019 Surplus

OPEC on Aug. 13 forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.

August 13, 2018

Oil States Names New Board Chairman To Replace Mark Papa

Oil States named Robert Potter, retired FMC president, as its new chairman following the resignation of its former chairman and shale pioneer, Mark G. Papa.

August 8, 2018

Trading Firm Trafigura Looks To Build US Deep Water Oil Port

Global commodities trader Trafigura has applied to build a deep water port in Texas that will be able to load supertankers, the company said on Aug. 6, supplying badly needed oil export infrastructure to the country.

August 7, 2018

Schlumberger Adds Shale Pioneer Mark Papa To Board

Mark Papa's appointment comes just a few months after Helge Lund, former CEO of BG Group and Statoil, resigned from the Schlumberger board in April to become chairman of BP.

August 7, 2018