This is your A&D Minute with Hart Energy Live at CERAWeek by S&P Global.
Canada's Baytex Energy is expanding its footprint in the Eagle Ford Shale in a big way. The Calgary-based company agreed to scoop up pure-play E&P Ranger Oil for $2.5 billion. It gives Baytex much needed inventory, but investors and analysts have raised questions about the company's strategy in South Texas. Will Eagle Ford deal-making continue to soar this year?
Aramco has completed its $2.65 billion acquisition of Valvoline's global products business, expanding the Saudi state-owned company's position in lubricants and motor oils. It kept its ownership of its network of service center locations and is now shifting into a pure-play auto services provider after the deal.
Canadian pipeline operator Enbridge is boosting its gas storage capacity along the Gulf Coast. It acquired a 35-Bcf salt cavern storage facility in Texas for $335 million. Embridge has taken advantage of other companies shedding non-core midstream assets recently, but we're wondering what will the company buy next?
That's your A&D Minute with Hart Energy Live at CERAWeek by S&P Global. Watch new A&D Minute episodes every Wednesday and sign up for our A&D Watch newsletter at hartenergy.com/transactions.
Recommended Reading
Energy Transition in Motion (Week of April 26, 2024)
2024-04-26 - Here is a look at some of this week’s renewable energy news, including the close of a $1.4 billion decarbonization-focused investment fund.
No Silver Bullet: Chevron, Shell on Lower-carbon Risks, Collaboration
2024-04-26 - Helping to scale lower-carbon technologies, while meeting today’s energy needs and bringing profits, comes with risks. Policy and collaboration can help, Chevron and Shell executives say.
Solar Panel Tariff, AD/CVD Speculation No Concern for NextEra
2024-04-24 - NextEra Energy CEO John Ketchum addressed speculation regarding solar panel tariffs and antidumping and countervailing duties on its latest earnings call.
NextEra Energy Dials Up Solar as Power Demand Grows
2024-04-23 - NextEra’s renewable energy arm added about 2,765 megawatts to its backlog in first-quarter 2024, marking its second-best quarter for renewables — and the best for solar and storage origination.