Acquisitions & Divestitures

Acquisitions & Divestitures , Pipelines

TC Energy Proposes To Buy Pioneer Pipeline In Multimillion-dollar Deal

NOVA Gas Transmission Ltd. (NGTL), a subsidiary of TC Energy, entered the proposed purchase agreement through an exclusive letter of intent with Tidewater Midstream and TransAlta.

March 12, 2020

Public Capital , Acquisitions & Divestitures

Carl Icahn Reportedly Boosts Occidental Petroleum Stake To Nearly 10%

Carl Icahn, who held a roughly 2.5% stake in Occidental as of end-2019, has previously criticized its $38 billion deal for rival Anadarko Petroleum as a misplaced bet on oil prices rising.

March 12, 2020

Acquisitions & Divestitures , Trends

Energy A&D Transactions From The Week Of March 11, 2020

Here’s a snapshot of energy deals from the past week including ConocoPhillips’ $380 million exit from the D-J Basin plus the closing of WPX’s multibillion-dollar acquisition of Felix Energy.

March 11, 2020

Restructurings , Investment , Crude Oil , Acquisitions & Divestitures , Mergers

Post-Meltdown: Expect Surge Of Shale Bankruptcies, Experts Say

A wounded oil and gas industry enjoys better numbers the day after prices plummeted, but steep debt will likely bring about a wave of M&A, bankruptcies and litigation.

March 10, 2020

Shale Plays , Technology , Acquisitions & Divestitures

Basic Energy Services Acquires NexTier’s Well Services Business For $94 Million

Basic Energy Services said the acquisition of the NexTier production operations positions the company as the leading well servicing provider in the U.S.

March 9, 2020

Exploration & Production , Acquisitions & Divestitures , Mergers

Houston-based Independent U.S. Energy Corp. Adds To Williston Basin Position

U.S. Energy Corp.’s acquisition of New Horizon Resources adds assets in a mature field, primarily in North Dakota’s McKenzie and Divide counties, with existing cash flow, low decline and significant upside potential.

March 9, 2020

Public Capital , Exploration & Production , Shale Plays , Acquisitions & Divestitures , Mergers

WPX Completes $2.5 Billion Acquisition Of EnCap-backed Felix Energy

WPX Energy expected the Felix transaction—the largest E&P deal announced in the U.S. during the fourth quarter—to significantly boost its free cash flow, allowing the company to implement a dividend.

March 6, 2020

Business , Exploration & Production , Shale Plays , Acquisitions & Divestitures

ConocoPhillips Exits D-J Basin In $380 Million Sale

Crestone Peak Resources is believed to be the buyer of ConocoPhillips’ Niobrara asset, which covers about 98,000 net acres in the southern D-J Basin.

March 5, 2020

Restructurings , Technology , Acquisitions & Divestitures

McDermott Moves Forward With $2.7 Billion Sale Of Lummus Technology

Proceeds from the sale of Lummus Technology are expected to repay McDermott’s DIP financing in full, as well as fund emergence costs and provide cash to the balance sheet for long-term liquidity.

March 4, 2020

Public Capital , Exploration & Production , Shale Plays , Acquisitions & Divestitures

Wyoming In Talks To Buy Millions Of Acres From Occidental

Wyoming governor says the purchase of private land from Occidental Petroleum would be the biggest since the U.S. bought Alaska.

March 2, 2020