Deals of the Week: ExxonMobil Ups the Stake in its US Natural Gas Bet
ExxonMobil committed further this week to its belief that US gas prices will improve in the long run by acquiring two companies with operations in the Marcellus shale play for $1.69 billion. For what most companies would be an important company maker or breaker, the $1.7 billion outlay only warranted a mention in a phone .. read more
Deals of the Week: Marathon Oil Delves Further into the Eagle Ford Play
One week following Marathon Oil’s board’s transformational approval of the spin-off of the company’s refinery assets, investors were given another major strategic move to chew over with a record $3.5 billion acquisition in the Eagle Ford shale. The acquisition of 141,000 acres, with current production of 7,000 boe/d equates to just under $25,000 per undeveloped .. read more
Deals of the Week: Hungarian Government Takes Stake in MOL Back Home
The Government of Hungary repatriated a 21% stake in Hungary’s lone oil company, MOL this week for $2.7 billion. The stake was acquired from Surgutneftegas who contentiously originally acquired the interest from Austrian based OMV in 2009. At the time of the initial acquisition, Hungarian authorities viewed the move as a “creeping takeover” by the .. read more
Deals of the Week: BP-Rosneft Russian Venture Reaches the End of the Road
Deals of the Week: BP-Rosneft Russian Venture Reaches the End of the Road It has been a busy time of late for BP in the M&A sector, fresh from gaining final approval for their acquisition of Devon’s Brazilian assets last week the company secured another asset sale this week, while finally reaching the end of .. read more
How to Value an Oil & Gas Deal
by Eoin Coyne, Evaluate Energy M&A Specialist Deals Aren’t What They Seem When companies announce the purchase or sale of exploration and production assets, the acquisition cost often includes the cost of assets that are unrelated to reserves in the ground. In addition, while the company may quote a proved reserve figure in the deal .. read more
78 TCF Horn River Play Attracts Further Japanese Interest
Japan’s presence in the Canadian shale sector increased this week with Tokyo Gas, Osaka Gas, Chubu Electric and JOGMEC all joining Mitsubishi in their Horn River shale joint venture with Penn West Energy. The move coincided with a report from the BC Ministry of Energy and Mines that put an estimate of potential resources in .. read more
Billion Dollar Deals Still Coming Despite Weaker Market
In a week that saw oil prices crash from recent highs on the back of a flurry of poor economic data across the globe, the E&P sector remained bullish with potentially two billion dollar deals announced, according to Evaluate Energy’s analysis of this week’s deals. One deal that was definitely in excess of a billion .. read more
Evaluate Energy’s Oil & Gas Deals of the Week – 28th April 2011
The largest deal of the week involved W&T Offshore shifting its focus away from the Gulf of Mexico to acquire assets onshore in the Permian basin for $366 million. Click here for Evaluate Energy’s full analysis of the deal (clients only). Despite the WTI crude benchmark posting over $100 for the trailing 2 month period, .. read more
Evaluate Energy’s Oil & Gas Deals of the Week – 21st April 2011
Main action of the week involved Vedanta snapping up an 11% interest in Cairn India after Petronas offloaded their 14.9% interest in the company for US$2.1 billion. Click here for Evaluate Energy’s full analysis of the deal (clients only). Despite launching an offer for a 51% stake in the company in August 2010, this is .. read more
BP Signals Intent for Portfolio Shift
Following an aggressive divestiture program in 2010 following the Horizon oil spill disaster, BP made two major deals that signalled their intent for where the new focus of their portfolio will lie. The first deal was in Russia and involved an equity swap agreement with Rosneft that would result in BP gaining access to huge .. read more