Editor's note: This "On the Move" section appears in the new E&P newsletter. This weekly section highlights new hires, appointments, retirements and promotions as well as company news such as new office locations and major M&A deals. Submit your company news to Ariana Hurtado at firstname.lastname@example.org. Subscribe to the E&P newsletter here.
DNO ASA, the Norwegian oil and gas operator, has appointed Chris Spencer COO. Spencer joined the company in 2017 and his most recent position was deputy managing director.
Airswift has announced a senior strategic appointment as it diversifies into the IT and technology sectors. Albert Kahlow, formally regional director Canada and global head of sustainability, has been promoted to global sales director, IT and technology.
Cedric Williams has joined Petrolern LLC as sales manager.
Asset Guardian Solutions Ltd. has appointed Mark Kostryckyj graduate technical consultant.
WAGO has hired Danny Woodlief as its new electrical contractor and wholesale specialist for the Eastern U.S.
Oil billionaires Dan and Farris Wilks have taken around a 10% stake in hydraulic fracking firm U.S. Well Services, according to a regulatory filing, bringing their total investment to $47.5 million in the past month. Read more here.
Ranger Energy Services Inc. has continued to expand its wireline services business with the acquisition of PerfX Wireline Services—Ranger’s second acquisition in the past several weeks. Founded in 2014, PerfX is a privately held Denver-based service company operating wireline pumpdown crews in U.S. shale plays across Oklahoma, North Dakota and Texas. Ranger completed the PerfX acquisition on July 8, consideration of which comprises all-stock, according to a company release. Read more here.
Penn Virginia Corp. has agreed to acquire Lonestar Resources US Inc. in an all-stock transaction valued at about $370 million, which Penn Virginia President and CEO David Henke said will expand the Houston-based company’s Eagle Ford footprint. Read more here.
Hawkwood Energy LLC, an independent E&P company, has entered into definitive agreements to be acquired by WildFire Energy I LLC, an independent energy platform company. The transaction attributes an enterprise valuation to Hawkwood of approximately $650 million. Following the transaction Hawkwood's existing shareholders will retain a ~50% equity interest in WildFire, alongside ~50% held by WildFire's management team and private equity sponsor Kayne Anderson. The transaction is expected to close in the third quarter of 2021. Read more here.
Contango Oil & Gas Co. agreed on July 8 to acquire ConocoPhillips Co. Wind River Basin asset in Wyoming in a $67 million cash deal. For ConocoPhillips, the transaction fits into its divestment plan. Meanwhile, the deal for Contango follows a merger agreement last month with Independence Energy. Read more here.
HydroLand, a national renewable energy company, has acquired two hydroelectric facilities from Northbrook Carolina Hydro II LLC. The two facilities acquired from Northbrook are the Bryson Hydroelectric Project and Franklin Hydroelectric Project, each a 1-MW run-of-river facility previously owned by Duke Energy Corp. and have undergone major upgrades.
Analysts share insight on the oil and gas industry’s response to climate concerns and the future of fracking that has led some, like Shell, to consider withdrawing from the Permian Basin plus what opportunities remain for those choosing to stay.
Hess was recognized as the No. 1 energy company on the 100 Best Corporate Citizens list for its outstanding ESG transparency and performance this past year, the global independent oil and gas company said.
The $607,000 pipeline project located in the Eagle Ford Shale is a proactive approach by U.S. Energy Development Corp. to reduce flaring, thereby decreasing the firm’s carbon footprint.