Deals of the Week: INPEX to Partner With Shell on World’s First Floating LNG Project
The major deal for this week was INPEX’s purchase of a 17.5% interest in the Prelude FLNG project offshore Australia from Royal Dutch Shell. The terms of the deal were not disclosed by either party but the bulk of the benefit to Shell will be to have another partner to share the future development costs .. 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: 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
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 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
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
Oil Companies In Oman – Oil & Gas Companies with Assets in Oman
Answering a question such as, “Which companies are exposed to unrest in Oman” is very simple using the Evaluate Energy system. Simply browse to the country page and check out the assets list. The companies listed below are all exposed in some way or form owning or farming in to one or more blocks. If .. read more
Capex Growth Suggests Renewed Confidence
Upstream capex continued to rise as another quarter of stable oil prices boosted confidence amongst the IOC’s covered in this re-port. The barriers to affordable finance have also weakened since Q3 ’09 and led to the sub $10 billion dollar group in particular, to raise capex by 58% quarter-on-quarter. Refining and marketing capex has continued .. read more
Second Quarter Oil & Gas Deals Top $42 Billion as Companies Pile into Shale Gas
The pace of M&A activity in the global E&P sector sustained the momentum of the first quarter with $42 billion of E&P deals announced in the second quarter of 2010. Evaluate Energy only includes officially announced deals in its analysis and excludes rumoured deals. US Shale Gas Attracts Global Attention The total value for the .. read more