Acquisition

New Fortress Gains Foothold in Brazil, Adds LNG Shipping in $5B Acquisition

New Fortress Gains Foothold in Brazil, Adds LNG Shipping in $5B Acquisition

New Fortress Energy Inc. said Wednesday it is acquiring Golar LNG Partners LP (GMLP) and Hygo Energy Transition Ltd. in a deal valued at $5 billion that expands operations in Latin America and provides liquefied natural gas (LNG) shipping assets.  Hygo is a 50-50 joint venture between Golar LNG Ltd. and a fund managed by…

January 13, 2021
Chart Expanding Into Carbon Capture Technology for LNG Producers in $20M Acquisition

Chart Expanding Into Carbon Capture Technology for LNG Producers in $20M Acquisition

Chart Industries Inc. has agreed to acquire Utah-based Sustainable Energy Solutions Inc. (SES) for $20 million in cash in a deal that would allow it to expand into carbon capture for liquefied natural gas (LNG) producers. Atlanta-based Chart said this week it has signed a letter of intent to acquire SES, but added that the…

December 17, 2020
FourPoint Tie-Up Expands Maverick’s Presence into Anadarko Basin

FourPoint Tie-Up Expands Maverick’s Presence into Anadarko Basin

Houston-based Maverick Natural Resources LLC said Wednesday it acquired FourPoint Energy LLC, a prominent producer in the western part of the Anadarko Basin. Both U.S. onshore-focused Maverick and FourPoint are majority owned and controlled by funds and accounts managed by Washington, DC-based EIG Global Energy Partners. Under terms of the all-equity merger, FourPoint became a…

December 2, 2020
Berkshire Hathaway Ups Oil, Natural Gas Holdings with $6B Investment in Japanese Trading Houses

Berkshire Hathaway Ups Oil, Natural Gas Holdings with $6B Investment in Japanese Trading Houses

An affiliate of Warren Buffet’s Berkshire Hathaway Inc. said Monday that it has taken stakes in five of Japan’s biggest trading companies, which have significant oil and natural gas holdings worldwide.  Subsidiary National Indemnity Company has acquired more than 5% of the outstanding shares of Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. and…

August 31, 2020
ConocoPhillips Doubles Natural Gas-Rich Montney Shale Portfolio in $375M Deal with Kelt

ConocoPhillips Doubles Natural Gas-Rich Montney Shale Portfolio in $375M Deal with Kelt

ConocoPhillips is nearly doubling its leasehold and adding substantial production in Western Canada’s natural gas-rich Montney Shale following a $375 million bolt-on purchase from Calgary-based Kelt Exploration Ltd. The transaction in northeastern British Columbia (BC) announced Wednesday would add 140,000 net acres and an estimated 15,000 boe/d of output in a liquids-rich zone known as…

July 23, 2020
Black Bear Transmission Adds Natural Gas System to Southeast Portfolio

Black Bear Transmission Adds Natural Gas System to Southeast Portfolio

Houston-based Black Bear Transmission LLC has acquired a portfolio of natural gas transmission assets from a subsidiary of Third Coast Midstream LLC that span 1,400 miles in Alabama, Louisiana and Mississippi. The six intrastate pipeline system has capacity of more than 800 MMcf/d with interconnectivity to long-haul pipelines.  This is Black Bear’s second bolt-on acquisition.…

July 1, 2020
Talos Bolts On Natural Gas-Heavy GOM Acreage in Cash-Stock Deal with Castex

Talos Bolts On Natural Gas-Heavy GOM Acreage in Cash-Stock Deal with Castex

Houston offshore explorer Talos Energy Inc., which has holdings throughout the Gulf of Mexico, said it has bolted on 16 natural gas-heavy assets in its core U.S. holdings. The properties on the Outer Continental Shelf offshore Louisiana, in which Talos already has stakes, are being acquired from Castex Energy 2005 for an estimated $65 million,…

June 24, 2020
Louisiana LNG Project Lands New Buyer After Second Deal Falls Through

Louisiana LNG Project Lands New Buyer After Second Deal Falls Through

Liquefied Natural Gas Ltd. (LNGL) has lined up yet another deal to sell some assets after a transaction with Global Energy Megatrend Ltd. fell through this week.

May 28, 2020
In Concession to Icahn, Oxy Taps Former Chief Chazen as Chair

In Concession to Icahn, Oxy Taps Former Chief Chazen as Chair

Houston-based independent Occidental Petroleum Corp. (Oxy) said Tuesday it has named Magnolia Oil and Gas Corp. CEO Stephen Chazen as chairman in an apparent concession to activist shareholder Carl Icahn.

March 24, 2020

W&T Snaps Up Stakes in Deepwater Magnolia Field from ConocoPhillips

Houston-based W&T Offshore Inc. has become the operator and majority owner of the Magnolia field in the deepwater Gulf of Mexico (GOM) in a $20 million acquisition from ConocoPhillips.

December 24, 2019