Acquisition

Tourmaline Continues North Montney Expansion with Eyes on Canadian LNG

Tourmaline Continues North Montney Expansion with Eyes on Canadian LNG

Tourmaline Oil Corp. is beefing up its North Montney Shale holdings with the C$1.1 billion ($900 million) purchase of privately held Black Swan Energy Ltd., a deal that could position supplies for the Canadian liquefied natural gas (LNG) market.  Tourmaline said Friday the purchase was an “important component” of its ongoing consolidation strategy in the…

June 11, 2021
Southwestern Energy Gains Access to Gulf Coast LNG Corridor With Indigo Acquisition

Southwestern Energy Gains Access to Gulf Coast LNG Corridor With Indigo Acquisition

Southwestern Energy Co. is moving beyond the Appalachian Basin to expand its natural gas opportunities with a $2.7 billion takeover of Haynesville Shale pure-play Indigo Natural Resources LLC. The Houston independent, a Lower 48 pioneer in unconventional drilling techniques, said the merger would boost production to 4 Bcfe/d, 85% weighted to natural gas. Indigo, which…

June 3, 2021
Stabilis Expands LNG Bunkering Footprint With Louisiana Acquisition

Stabilis Expands LNG Bunkering Footprint With Louisiana Acquisition

Houston-based Stabilis Solutions Inc. is expanding its reach in the growing liquified natural gas (LNG) bunkering sector with the acquisition of a production facility in Port Allen, LA. The fuels specialist said Tuesday it had completed the acquisition of the facility from HR Nu Blu Energy LLC for an undisclosed amount.  The small-scale plant came…

June 2, 2021
Southwestern and Indigo Combining Appalachia, Haynesville Natural Gas Assets in ‘Perfect Recipe for Success’

Southwestern and Indigo Combining Appalachia, Haynesville Natural Gas Assets in ‘Perfect Recipe for Success’

Southwestern Energy Co. is moving beyond the Appalachian Basin to expand its natural gas opportunities with a $2.7 billion takeover of Haynesville Shale pure-play Indigo Natural Resources LLC. The Houston independent, a Lower 48 pioneer in unconventional drilling techniques, said the merger would boost production to 4 Bcfe/d, 85% weighted to natural gas. Indigo, which…

June 2, 2021
Kinder Morgan Buys Long-Shopped Stagecoach Natural Gas Pipeline, Storage Assets

Kinder Morgan Buys Long-Shopped Stagecoach Natural Gas Pipeline, Storage Assets

Houston-based Kinder Morgan Inc. (KMI) is expanding its footprint in the Northeast with the $1.225 billion purchase of the Stagecoach natural gas pipeline and storage system from a joint venture between Crestwood Equity Partners LP and Consolidated Edison Inc. (ConEd). The Stagecoach system consists of 185 miles of pipeline with multiple interconnects to major interstate…

June 2, 2021
Pennsylvania Operator Acquiring Three Small Appalachian Natural Gas Producers

Pennsylvania Operator Acquiring Three Small Appalachian Natural Gas Producers

American Energy Partners Inc. said this week that it would acquire three oil and natural gas producers in western Pennsylvania and West Virginia in a deal valued at nearly $11 million.  The Allentown, PA-based company, traded over the counter, said it would acquire 100% of the stock and units of the three undisclosed companies. “This…

April 21, 2021
Liquids-Rich Production in Alberta’s Charlie Lake Field Inspires Calgary Dealmaking

Liquids-Rich Production in Alberta’s Charlie Lake Field Inspires Calgary Dealmaking

Liquids-rich natural gas and prolific oil properties in northwestern Alberta, known as the Charlie Lake field, inspired C$526 million (US$421 million) in deals announced this week by Calgary-based operators.  In one transaction, Tamarack Valley Energy Ltd. paid C$247.5 million ($198 million) cash and traded 105.3 million shares valued at C$2.34/share ($1.87) for Anegada Oil Corp.…

April 14, 2021
As Pacific LNG Exports Beckon, KKR Acquiring Stakes in Sempra’s Mexico, Gulf Coast Projects

As Pacific LNG Exports Beckon, KKR Acquiring Stakes in Sempra’s Mexico, Gulf Coast Projects

Global investment firm KKR is buying a stake in a Sempra Energy business unit that manages liquefied natural gas (LNG) projects in Mexico and along the U.S. Gulf Coast as it anticipates growth in North American energy infrastructure. Under the terms of the deal announced Monday, KKR will pay  $3.37 billion for a 20% non-controlling…

April 5, 2021
Evolution Gains Barnett Foothold with $23M Tokyo Gas Deal

Evolution Gains Barnett Foothold with $23M Tokyo Gas Deal

Houston-based Evolution Petroleum Corp. is set to enter the Barnett Shale in North Texas with the acquisition of 23,000 net acres from Tokyo Gas Americas Ltd. Evolution said Wednesday it would pay $23.25 million for the nonoperated position, which currently produces about 22 MMcf/d of natural gas and 13,000 b/d of liquids. In percentage terms,…

April 1, 2021
Northern Oil Enters Appalachia as India’s Reliance Exits

Northern Oil Enters Appalachia as India’s Reliance Exits

India’s Reliance Industries Ltd. has agreed to divest its entire stake in 64,000 net acres in the Appalachian Basin, continuing its exodus from unconventional oil and natural gas assets in the United States.  Northern Oil and Gas Inc. (NOG) agreed to acquire the nonoperated stake from Reliance Marcellus LLC in exchange for $175 million and…

February 4, 2021