Acquisitions

ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

Houston-based ConocoPhillips on Monday agreed to pay $9.5 billion to buy Royal Dutch Shell plc’s Permian Basin portfolio, which a Shell executive said reflected “our focus on value over volumes” as it accelerates its energy transition from fossil fuels. Shell’s Permian business includes ownership in 225,000 net acres with current production of around 175,000 boe/d.…

September 20, 2021
Canada’s Tourmaline Gets Natural Gas Production Bump After Acquisitions

Canada’s Tourmaline Gets Natural Gas Production Bump After Acquisitions

Canadian independent Tourmaline Oil Corp. broke production records in 4Q2020 after a pair of acquisitions boosted its output. The independent which has assets in British Columbia and Alberta, said recently it exited the quarter producing more than 400,000 boe/d after acquiring smaller Canadian players Jupiter Resources Inc. and Modern Resources Inc. in December. The deals…

March 19, 2021
ConocoPhillips Sees ‘External Pressures’ Mounting for Energy Industry as Biden Presidency Begins

ConocoPhillips Sees ‘External Pressures’ Mounting for Energy Industry as Biden Presidency Begins

The Lower 48 will again factor heavily into ConocoPhillips’ operating plans this year despite what the company’s chief executive said are “external pressures” facing the industry as the Biden administration appears ready to more actively regulate oil and natural gas operations.  Meanwhile, the world’s largest independent continues grappling with a global economy weakened by the…

February 2, 2021
Enerplus Builds Bakken Stronghold with Takeover of Pure-Play Bruin E&P

Enerplus Builds Bakken Stronghold with Takeover of Pure-Play Bruin E&P

Canadian producer Enerplus Corp. has gained more exposure in North Dakota’s Bakken Shale with a $465 million takeover of Houston-based Bruin E&P HoldCo LLC. The deal announced Monday for the North Dakota assets of the Bakken pure-play is forecast to propel a 20% production jump for Calgary-based Enerplus to a combined 103,500-108,500 boe/d.  The acquired…

January 26, 2021
Southwestern Strikes All-Stock Deal for Appalachian Pure-Play Montage

Southwestern Strikes All-Stock Deal for Appalachian Pure-Play Montage

Southwestern Energy Co. agreed to acquire Montage Resources Corp. in an all-stock deal that would create the third largest oil and natural gas producer in the Appalachian Basin, with 3 Bcfe/d of combined production.  The deal is valued at $857 million, including debt, according to Raymond James & Associates Inc. It would give the Houston-based…

August 12, 2020
Northern Oil Looking to Continue Williston Bolt-On ‘Ground Game’

Northern Oil Looking to Continue Williston Bolt-On ‘Ground Game’

Northern Oil and Gas Inc. executives said oil price volatility increased its opportunities for small “ground game” acquisitions in 4Q2018, and plans are to look for bigger prospects in the Williston Basin this year.

March 13, 2019

Massachusetts Firm Sets Bi-Coastal Virtual Oil Pipeline

With acquisitions and infrastructure agreements in hand, Waltham, MA-based Global Partners LP, a publicly traded master limited partnership, is establishing a “virtual pipeline” for shipping North Dakota Bakken and Canadian crude oil to refineries on both the U.S. West and East Coasts.

May 15, 2013

PDC Production Up on Wattenberg Play; Liquids Hit Record

Citing drilling and acquisitions it made last year in the Wattenberg field north of Denver, PDC Energy Inc. on Wednesday reported a 19% jump in production in the first quarter, compared with the same period last year, and record output of more than 10,000 b/d of liquids.

May 6, 2013

MDU Resources Ties Growth to Bakken Boom

Bismarck, ND-based MDU Resources Group is aligning its utility, construction, midstream infrastructure and exploration/production (E&P) businesses so each one profits and grows with the continuing hydrocarbon boom in the Bakken, the MDU senior executives emphasized in a half-day financial analysts meeting Thursday in New York City.

March 18, 2013
Controversy Gushes from Reservation in Bakken

Controversy Gushes from Reservation in Bakken

Lawsuits have been filed in federal and state courts over a part of North Dakota’s prosperous Bakken Shale that lies under the Fort Berthold Reservation, which according to the state’s latest statistics makes up nearly 20% of the play’s ever-growing oil production.

February 27, 2013
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