Acquisitions & Divestitures

Business , Shale Plays , Acquisitions & Divestitures , Trends , Mergers

Report: Supermajors Unlikely Acquirers of Distressed E&Ps

Years of M&A since the last downturn have produced suboptimal returns, which may lead oil and gas majors to focus on asset-level deals.

June 22, 2020

Public Capital , Liquefied Natural Gas (LNG) , Acquisitions & Divestitures , Midstream

Chevron’s Stake in Australia’s Biggest LNG Project for Sale

Analysts said it made sense for Chevron to sell its North West Shelf LNG stake now, after it failed to seal a deal to supply gas to the plant from its undeveloped Clio and Acme fields.

June 18, 2020

Private Equity , Investment , Acquisitions & Divestitures , Trends

Oil and Gas Private Equity: Post-pandemic Roadmap to Recovery

A panel of oil and gas capital experts discussed the steps private equity professionals need to take to recover from the severe downturn.

June 18, 2020

Acquisitions & Divestitures , Trends

Energy A&D Transactions from the Week of June 17, 2020

Here’s a snapshot of recent energy deals including an acquisition by Northern Oil and Gas of core Williston Basin acreage operated by WPX Energy plus the sale of ORRI by Antero Resources.

June 17, 2020

Investment , Acquisitions & Divestitures

Saudi Aramco Completes $69 Billion SABIC Deal

Saudi Aramco has completed its purchase of a 70% stake in petrochemicals company SABIC for $69.1 billion and extended the payment period by three years to 2028, providing a cushion against weak oil prices.

June 17, 2020

Public Capital , Investment , Shale Plays , Acquisitions & Divestitures

Appalachia Shale Producer Antero Closes $402 Million ORRI Sale

The ORRI transaction with Sixth Street Partners addresses over half of Antero Resources’ $650 million to $900 million asset sale goal for 2020 while allowing the Appalachia shale producer to pay down debt, CEO Paul Rady says.

June 15, 2020

Business , Acquisitions & Divestitures

Offshore Producer Fieldwood Energy Sued Over $19.2 Million Bond Collateral

Fieldwood Energy on June 11 was sued by an insurance provider for allegedly failing to post $19.2 million in collateral for performance bonds, according to a Texas state court filing.

June 12, 2020

Business , Technology , Acquisitions & Divestitures

‘Sold!’ Auctioneers Race to Unload Oil Equipment as US Drilling Dries Up

Cutbacks by E&Ps have prompted auctions for oilfield equipment from Odessa, Texas, to Alberta, Canada. Even if oil prices remain in the high-$30s, that will not be enough to spur much in the way of additional drilling.

June 12, 2020

Public Capital , Exploration & Production , Acquisitions & Divestitures

Shell Launches Multimillion-dollar Sale of Norwegian Assets

Shell has launched the sale of its stakes in two oil fields and two pipelines in Norway with expected proceeds between $50 million and $100 million, according to a sales document seen by Reuters.

June 11, 2020

Public Capital , Shale Plays , Acquisitions & Divestitures

Northern Oil and Gas to Acquire Core Williston Acreage Operated by WPX

The acquisition, “while modest in size,” highlights Northern Oil and Gas’s competitive advantage as an actively managed nonoperator, COO Adam Dirlam says.

June 10, 2020