Acquisitions & Divestitures

Public Capital , Private Equity , Emissions , Technology , Acquisitions & Divestitures

Baker Hughes Continues to Shed Oilfield Assets with SPC Flow Unit Sale

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.

September 10, 2020

Public Capital , Health, Safety & Environment , Emissions , Renewables , Acquisitions & Divestitures

BP Enters Offshore Wind Through $1.1 Billion Acquisition of US Assets

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.

September 10, 2020

Public Capital , Acquisitions & Divestitures , Mergers

Activist Investor Reportedly Seeking to Break Up Noble’s Sale to Chevron

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.

September 9, 2020

Acquisitions & Divestitures , Trends

Energy A&D Transactions from the Week of Sept. 9, 2020

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.

September 9, 2020

Public Capital , Deepwater , Acquisitions & Divestitures

Kosmos Energy Sells Frontier Exploration Assets in $200 Million Farm-down to Shell

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.

September 9, 2020

Shale Plays , Acquisitions & Divestitures

Japan’s Sumitomo Sells Stake in Marcellus Shale Gas Project

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.

September 8, 2020

Public Capital , Acquisitions & Divestitures , Mergers

Elliott Management Discloses Stake in Chevron Takeover Target Noble Energy

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.

September 8, 2020

Public Capital , Renewables , Acquisitions & Divestitures

Big Oil’s Patchy Deals Record Casts Shadow over Green Makeover

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.

September 4, 2020

Public Capital , Shale Plays , Acquisitions & Divestitures , Joint Ventures

Ovintiv, PetroChina Split Duvernay Assets in JV Breakup

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.

September 2, 2020

Restructurings , Public Capital , Shale Plays , Technology , Acquisitions & Divestitures

Shareholder Wilks Brothers to Launch Hostile Takeover Bid for Calfrac

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.

September 2, 2020