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: Chevron Enters New Partnership in Canadian Atlantic with Repsol and Statoil
After the extremely busy start to 2012 last week, M&A activity slowed down considerably this week, with only a few deals breaking $100 million. Three major companies joined forces in one of the most significant deals of the week, as Chevron, Repsol and Statoil continued their Newfoundland partnership in the Orphan Basin exploration block EL .. 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: ConocoPhillips is Biggest Spender in First Gulf of Mexico Lease Sale Since Horizon Disaster
This week, the Gulf of Mexico held its first lease sale since the Horizon oil spill of April 2010. The Western Gulf of Mexico Lease Sale 218 reaped a total of $337 million, with 20 companies gaining tracts. ConocoPhillips was the most prominent among the successful bidders, gaining the most tracts (75 – spending $159 .. read more
Oil Sands Crown Sales Fall Out of Favour
Average price per hectare of Alberta oil sands crown land sales has fallen by 11% over the past 4 years. On a regional basis Athabasca fell by an average 31%, Cold Lake 2% and despite a price fall in 2011, Peace River still rose by 1% over the period. This is according to data sourced .. 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
Weekly Energy Round-Up: Chevron Commits to Wheatstone Project as China Looks Abroad For Shale Gas Investment
Wheatstone Project Gets Green Light This week, Chevron announced the final investment decision (FID) for its Wheatstone project in Western Australia. The initial $29 billion project involves the construction of two Liquefied Natural Gas (LNG) processing trains with a combined annual capacity of 8.9 million tonnes. The project received federal approval last week for an .. read more