Global Impact of North American Shale Gas Boom Forces Qatar to Shift Focus
The global impact of the US shale gas boom was in further evidence this week as Qatar Petroleum, along with its MOU partner, Centrica, made its first move into the North American E&P market in a $1 billion acquisition of Canadian assets from Suncor Energy. North America had been earmarked by Qatar as a guaranteed .. read more
Deals of the Week: Pengrowth Makes $1.9 billion Move for NAL Energy Corp
In what was the biggest E&P deal of the week, fellow Canadian intermediate producers Pengrowth Energy and NAL Energy, combined to form a company which will reportedly be worth $6.6 billion. The deal will see Pengrowth acquire NAL in an all-stock deal, that values NAL at an enterprise level of $1.9 billion including approximately $600 .. read more
Deals of the Week: EP Energy Corporation and Cove Energy Find their Suitors
In a week where confidence has been returning to the oil market in tandem with the increasing oil price, two companies that have been in the shop window over the past few months have found willing acquirers. El Paso’s E&P division attracted the larger of the two bids of $7.15 billion from Apollo Global Management and .. read more
Deals of the week: Sinochem Increases China’s Ties with South America
Sinochem made the largest deal of the week by acquiring TEPMA BV from Total in a transaction that may have been worth $440 million. Total omitted to reveal the value of the deal but disclosed that their three divestitures in Colombia over the past year, comprised of two deals to sell interests in the Ocensa .. read more
Deals of the Week: Total and Sinopec Make US Shale Moves as New Year Begins
US Shale was the big M&A headline-maker in 2011, and 2012 has started on the same track. Sinopec and Total were both involved in big money deals this week, spending a combined total of around $4.5 billion to enter emerging plays. Sinopec, one of 2011’s most active companies in the E&P acquisitions market, will be .. read more
Deals of the Week: Total Plays it Safe in North Sea Whilst Peers Gamble on Nigeria
There were three large deals by super majors this week as Total played it safe by acquiring a producing North Sea asset whilst Royal Dutch Shell and ENI opted for a high risk but high reward asset in Nigeria. The North Sea acquisition concerns a 10.4% interest in the Elgin & Franklin fields previously owned .. read more
Deals of the Week: Centrica Beefs Up North Sea Production with Statoil Asset Acquisition
The largest gas producer in the North Sea, Centrica, added to its portfolio of assets in the region via a $1.5 billion deal with Statoil, marking the largest acquisition for the company since its takeover of Venture Production in 2009. The move will increase Centrica’s production by 25% and will include interests in 4 producing .. read more
Deals of the Week: Chesapeake Deal Confirms Utica’s Status as the Hottest Play in the US
Chesapeake Energy has made the largest deal thus far in the short life of the emerging Utica shale, in a $2.1 billion transaction with an undisclosed “international major energy company”. Chesapeake didn’t give much away on the identity of the joint venture partner other than it being “somebody big enough for this deal not to .. read more
BG–Cheniere LNG Deal a Gamechanger as Asian Gas Markets Open to US Producers
The entire gas producing world can see a major opportunity in Asia right now. Prices for imported gas have been soaring as the energy crisis persists in various countries across the continent. The United States, despite its huge shale gas reserves, has been unable to act on this opportunity because it does not currently have .. read more
Deals of the Week: Premier Make an Opportunistic Grab for Encore Oil
Premier Oil made a timely offer for fellow North Sea exploration company Encore Oil this week, for a consideration of $325 million (net of cash held by Encore). The offer per share, which has been recommended by the board, is for either £0.70 in cash or 0.2067 shares of Premier Oil, representing a 55% premium .. read more