The sale follows comments CEO Lorenzo Simonelli made recently about downsizing Baker Hughes’ oilfield services and equipment portfolio in preparation for the energy industry’s transition to a low-carbon future.
The acquisition marks BP’s entry into offshore wind and follows a new strategy that sees the British oil major accelerating its shift away from fossil fuels.
Activist investor Elliott Management is seeking to break up Noble Energy's $5 billion sale to oil major Chevron, a Bloomberg reporter tweeted on Sept. 9.
Here’s a snapshot of recent energy deals including the sale of Schlumberger’s fracking business, OneStim, to Liberty Oilfield Services and the dissolution of Ovintiv’s Duvernay Shale JV with PetroChina.
Proceeds from its farm-down to Shell enables Kosmos Energy to accelerate high-graded exploration opportunities in “proven basins that offer superior returns with shorter payback,” CEO Andrew Inglis says.
Japanese trading house Sumitomo bought a 30% stake in the project in 2010 from Rex Energy Corp., which went bankrupt in 2018. The project is now 70% owned and operated by PennEnergy Resources.
Hedge fund Elliott Management has acquired a stake in Noble Energy, the oil and gas producer which agreed in July to be bought by Chevron Corp. for $5 billion.
Ten years ago, the world's top energy companies were spending billions of dollars on major oil and gas assets and costly drilling programs in remote parts of the world in a relentless drive to produce more.
The partnership dates back to December 2012 when PetroChina agreed to pay Ovintiv, going by Encana at the time, CA$2.18 billion for a 49.9% stake in its Duvernay shale prospect.
Wilks Brothers, led by oil billionaires Dan and Farris Wilks, has been acquiring stakes in hard-hit U.S. service firms, previously making two bids for Calfrac's U.S. operations that were rejected.