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: Linn Energy Makes the Largest Move in Quiet Week in E&P Market
In a subdued week for E&P deals, Linn Energy were the main protagonist for the second week in a row with the largest, albeit at $175 million, a small fraction of the $1.2 billion it had to pay to BP last week to take a position in the Hugoton Basin. In this week’s deal, Linn .. read more
Deals of the Week: Linn Energy Deal Strengthens US Portfolio at the Expense of its Escalating Debt Level
Linn Energy conducted the largest deal in the oil patch this week by acquiring BP’s Hugoton basin assets in Kansas for $1.2 billion. The acquisition follows on from Linn Energy’s linear acquisition strategy, which has seen it aggressively acquiring onshore US assets over the past 5 years. Financed exclusively with debt, this strategy has led to Linn Energy operating .. 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
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