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 – 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
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: Mozambique Gas Block Hits 10TCF as Aminex Suffers Setback in Tanzania
Anadarko Optimistic for LNG Future in Mozambique The continuing exploration and appraisal campaign in the Offshore Area-1 block delivered further success following the completion of the Camarão well in the Rovuma Basin, Mozambique. This is the fifth major gas discovery to be drilled in the block, de-risking and adding to resources which operator Anadarko estimates .. 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
Deals of the Week: Arrow Adds New String to its CBM Bow
Arrow Energy has made a bid for Queensland-based Bow Energy in what was by far the biggest deal of another quiet week of oil and gas deals. Arrow, a 50/50 joint venture between Royal Dutch Shell and PetroChina, aims to add Bow to its portfolio for a total of around US$658m, based on shares outstanding as of June 30. Bow’s .. read more