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.
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