Acquisitions & Divestitures - Mergers & Acquisitions
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.
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.
In China, tariff rhetoric kept heating up, this time over LNG with the country threatening a 25% tariff on U.S. imports.
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.
Diamondback Energy will add top-tier horizontal drilling locations across three zones in the Northern Midland Basin to its portfolio as part of the Ajax acquisition.
Kosmos CEO Andrew Inglis said he believes a huge opportunity has opened in the U.S. Gulf of Mexico as many competitors leave the region for onshore shale.
A slew of pipeline operators also announced plans similar to Energy Transfer's merger in May after a U.S. FERC ruling eliminated income tax allowances for some MLPs.
American Midstream said late last year it reached an agreement to acquire the Southcross companies in two transactions totaling $815 million.
Halliburton has aimed to grow artificial lift in production chemicals and the acquisition of Athlon is an execution of that plan, President and CEO Jeff Miller says.
M&A activity in the oil patch is about to heat up as long and short-term drivers, from positive commodity prices to lower cost metrics in deep water and investment in alternative energies, kick in.
The deal allows U.S-based Tidewater to expand its presence in the U.K. North Sea basin, where a 30% jump in oil prices since the end of 2016 has boosted rates for operators.