The Latest
Lease Sales
Marketed: Samson Resources Nonop, Royalty Package Across Multiple States
Samson Resources Co. retained EnergyNet for the sale of multiple properties across several states in the U.S. Lower 48 through an auction closing March 31. The offering is comprised of a 42 property package including nonoperated working interest, royalty interest and ORRI plus leasehold, mineral and surface acreage.
Mergers
TC Energy, Ex-Columbia Execs Must Face Lawsuit over $10 Billion Deal
Judge rules that top execs will stand trial in suit by investors.
Pressure Pumping
NOW Inc. Acquires GR Energy Services Flex Flow Business in All-Cash Deal
NOW Inc. has entered into an agreement on March 1 to acquire from GR Energy Services substantially all of the assets used in connection with its Flex Flow business.
Business
Baker Hughes to Merge Offshore Drilling Business in JV Transaction
Forming a joint venture, the merger of Baker Hughes Subsea Drilling Systems with Akastor’s MHWirth AS maintains dual headquarters in Houston in the U.S. and the southern Norwegian town of Kristiansand.
Lease Sales
Marketed: RDV Resources Oklahoma Panhandle Operated Production
RDV Resources Inc. is considering the sale of certain oil and gas properties in Oklahoma and has engaged Meagher Energy Advisors Inc. as its exclusive financial and technical adviser.
Investment
Pickering Energy Partners Doubles Down on Energy Transition with SailingStone Merger
The new partnership expands Pickering Energy Partners’ current investment platform to include SailingStone’s energy transition, global natural resources and ESG investment experience and strategies.
Business
Oil and Gas Investor Cover Story: Animal Spirits
It’s not the Keynes kind; it’s the Jack London kind. E&P executives are restless, according to a Dallas Fed survey, and they’re going mano a mano for market share. Will it manifest in consolidation? Where to next for the sellers? For some, it’s a new land rush: energy transition.
Public Capital
Judge Strikes Down Williams Cos.’ ‘Poison Pill’ Takeover Defense
Williams’ “poison pill” was found by a Delaware judge to be a disproportionate response to the threat that an activist investor might swoop in when the stock was at a low point during the start of the pandemic.
Investment
U.S. Energy Development Continues Permian Basin Expansion with Recent Acquisitions
U.S. Energy Development acquired interests in oil development projects that the company’s CEO described as “instrumental” in U.S. Energy’s continued growth and expansion in the Permian Basin.
Lease Sales
Marketed: Operated Acquisition / Farm-in Opportunity in Wyoming D-J Basin
Eagle River Energy Advisors LLC has been retained by WOV LLC to divest or farm-out certain operated leasehold assets in the Denver-Julesburg (D-J) Basin of Wyoming’s Laramie County.