Deals of the Week – Pembina and Provident Merge in $3.6 Billion Midstream Deal
The largest deal in a lacklustre week for E&P deals came from PetroBakken’s divestiture of its 2.2% interest in the Weyburn unit in Saskatchewan for C$105 million. The deal breaks a hiatus in M&A for PetroBakken who following 3 transformation deals composed of the acquisitions of Berens Energy, Result Energy and Rondo Petroleum in 2010 .. read more
Deals of the Week: Total Plays it Safe in North Sea Whilst Peers Gamble on Nigeria
There were three large deals by super majors this week as Total played it safe by acquiring a producing North Sea asset whilst Royal Dutch Shell and ENI opted for a high risk but high reward asset in Nigeria. The North Sea acquisition concerns a 10.4% interest in the Elgin & Franklin fields previously owned .. read more
Deals of the Week: Asian Asset Grab Intensified in North America
Government backed Asian companies made further moves for global oil and gas resources this week, with the target areas ranging from Canada and the United States to Australia. The largest deal came from INPEX Corp, who signed a $700 million transaction with Nexen to farm-in to a portfolio of assets primarily focused on the Horn .. read more
Deals of the Week: Centrica Beefs Up North Sea Production with Statoil Asset Acquisition
The largest gas producer in the North Sea, Centrica, added to its portfolio of assets in the region via a $1.5 billion deal with Statoil, marking the largest acquisition for the company since its takeover of Venture Production in 2009. The move will increase Centrica’s production by 25% and will include interests in 4 producing .. read more
Deals of the Week: Majors Look to Frontier Regions for New Acquisitions
Some of the largest oil and gas companies in the world continued to venture into the less conventional regions of the world this week in their quest to locate their next megaproject. Fresh from their negotiation of exploration blocks in Kurdistan, ExxonMobil’s next target materialised via a farm-in of Block LB-13 in the ultra deep .. read more
Big Oil Shines Amidst Economic Gloom
The world’s largest oil and gas companies have been turning in impressive results in the third quarter despite the general economic gloom. The profit levels of the majors in particular offered a reminder of the heyday when oil was repeatedly trading at well above $100 per barrel and gas trading at sub $5 per mcf .. read more
Deals of the Week: BP-Bridas Deal Collapse Likely to Prove to be Blessing in Disguise
This week, Sinopec added to their already extensive investment in Brazil with a $3.5 billion deal with Galp Energia for a 30% interest in the company’s subsidiary, Petrogal Brasil. Sinopec had previously entered the Brazilian oil and gas sector, targeting the offshore pre-salt region when they took a 50% stake in Repsol Brasil for $7.1 .. read more
Deals of the Week: Chesapeake Deal Confirms Utica’s Status as the Hottest Play in the US
Chesapeake Energy has made the largest deal thus far in the short life of the emerging Utica shale, in a $2.1 billion transaction with an undisclosed “international major energy company”. Chesapeake didn’t give much away on the identity of the joint venture partner other than it being “somebody big enough for this deal not to .. read more
Deals of the Week: BP Wins Shareholders Over with Extended Divestiture Programme
Following the frenetic mega-deals of last week, including Kinder Morgan’s $38 billion acquisition of El Paso and Statoil’s $4.7 billion acquisition of Brigham Exploration, the pace of deals this week slowed to a crawl. While all the headlines are being grabbed by Q3 earnings figures, there was not a single deal over the value of .. read more
Deals of the Week: Oil and Gas M&A Still Rife Despite Jittery Markets
Over the past 6 months mass panic has gripped the financial markets, resulting in oil and gas stock prices diminishing by an average of 25% and the oil price by 15%, yet the thirst for oil and gas deals has shown little sign of being derailed, with depressed stock prices only serving to whet the .. read more