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 – 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 – 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: 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: North Sea Deals Back in Vogue Despite Tax Hike
For the second week in a row, North Sea assets have featured heavily in the upstream M&A sector. Back in March 2011, when the UK budget announced an increase in the supplemental tax to 32%, there was widespread condemnation and threats of withdrawal from some senior companies within the industry. The UK Government however called .. 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
Eagle Ford Looks Set to Overtake Barnett and Haynesville Shale Plays
The Eagle Ford may soon become the biggest producing shale play in Texas, and possibly the whole of the United States, judging by a new analysis by Evaluate Energy of horizontal drilling data sourced from Smith Bits Stats. The Eagle Ford Shale Formation, located in South West Texas covering 22 counties, is a relatively low .. 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