Acquisitions & Divestitures - Mergers & Acquisitions
Transaction is expected to close by the end of the third quarter.
Energy XXI said it will terminate its previously announced partnership with Orinoco Natural Resources as a result of the Cox Oil transaction.
Canadian oil and gas producer Baytex Energy said it would buy rival Raging River Exploration for about C$2.8 billion (US$2.13 billion) to expand in the oil-rich Duvernay Field in Alberta.
Hong Kong’s CK Infrastructure Holdings has made a AU$12.98 billion (US$9.8 billion) takeover offer for Australia’s biggest gas pipeline company, APA Group, offering a hefty 33% premium to tap into a tight gas market on June 13.
KPMG analysts are bullish about a pickup in oil and gas deal making, with foreign investment expected in the U.S. renewables market.
Scot Woodall, CEO of HighPoint Resources, says the company has already seen significant accomplishments since the merger of its predecessors Bill Barrett and Fifth Creek Energy several months ago.
The combined company will operate under the Akita name and have a fleet of 44 high-spec drilling rigs with operations in several major resource basins in the U.S. and Canada.
Minerals dealmaking this past week includes Kimbell’s Haymaker transformation and the formation of a first-of-its-kind Eagle Ford minerals company.
Osprey Energy, a SPAC led by Jonathan Z. Cohen, said it is forming the first public minerals company with Eagle Ford assets through the acquisition of Blackstone Energy Partners' Royal Resources.
U.S. private equity firm Lone Star is betting on two large unconventional gas projects in China that Austrailia's Sino Gas & Energy is developing.
Harbour Energy was forced to bid against itself five times until it made a final offer for Santos of $10.8 billion, up more than 50% from its first approach last August.
Following the closing of the Haymaker acquisition, Kimbell will have an 11.1 million gross acre position with a total of 73 active rigs on its properties, which represents 7% of total active rigs in the U.S.