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
Super majors feel the pinch in 2012
The annual 2012 results of the major players in the global oil and gas industry are out and a distinct picture on how the year has progressed can now be formed. At the top of the food chain, the super majors – consisting of Exxon Mobil, Shell, Total, BP and Chevron – turned out a .. read more
Latest CanOils Third Quarter Data Reveals the Challenges for Canadian Oil & Gas Juniors
Third quarter data now in the Canoils database tells an interesting story about the challenges and responses of Canada’s Junior exploration and production companies this year. We’ve aggregated the data for all companies in a group (see below) of 49 Junior exploration and production companies to give an overview of performance in the third quarter .. read more
Oil Money Still Pouring into Eagle Ford
A new analysis by Evaluate Energy highlights the big differences in drilling costs between companies in North American shale plays. The data reveals how much companies are set to spend and how many wells they will drill in the coming year in each play, and provides a benchmark average cost of a drilled and completed .. read more
Greenhouse Gas Emissions: In Situ Oil Sands Producers Drive Efficiencies, But Integrated Operations Take a Step Back
While overall greenhouse gas (GHG) emissions from oil sands operations are still rising, some producers are improving their environmental performance, according to the latest available government data analysed by CanOils. Total GHGs from oil sands projects increased 9.3% to 62.8 million tonnes of carbon dioxide equivalent (CO2e) in 2010, this compared with an estimated 13% .. 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 – SandRidge Makes a Swoop for Dynamic Offshore Resources
SandRidge Energy made a move for private Gulf of Mexico company, Dynamic Offshore Resources this week in a cash and stock deal worth $1.26 billion. The move comes 5 months after Dynamic issued a prospectus for an IPO to raise up to $400 million and just 1 day after the company postponed the IPO citing .. read more
Deals of the Week: Apache and Crescent Point Energy Play it Safe with Bolt-On Acquisitions
This week’s upstream M&A was dominated by two large bolt-on acquisitions by Apache and Crescent Point Energy, within North America. Although the deals lacked the sensationalism that comes from a company making a bold move into a new area, they both involved oil weighted producing assets with additional upside in areas that the companies have .. read more