Here’s a snapshot of recent energy deals including two large Permian Basin deals including the surprise $6.4 billion acquisition of DoublePoint Energy by Pioneer Natural Resources.
Whitecap’s indirect acquisition of Kicking Horse consists of 34.5 million Whitecap common shares and CA$56 million in cash, along with the assumption of net debt estimated at CA$54 million as of Feb. 28.
Here’s a snapshot of recent energy deals including the $2.2 billion all-stock combination of Canadian oil producers ARC Resources and Seven Generation plus Energy Transfer’s multibillion-dollar acquisition of Enable Midstream.
Following the acquisition of Seven Generations by ARC Resources, the combined company will become the biggest operator in western Canada’s premier Montney shale play.
Earlier this month, Kimmeridge had urged Ovintiv to focus on capital allocation, management compensation issues and establishing environmental strategy.
Investors say the pipeline is more valuable now.
Analysts wonder if the timing portends trouble for infrastructure projects by the oil and gas industry with the new administration.
President-elect Joe Biden is planning to cancel the permit for the $9 billion Keystone XL pipeline project as one of his first acts in office, and perhaps as soon as his first day, according to a source familiar with his thinking.
Revisions make it easier for projects to move forward but could be reversed by the incoming Biden administration.