Acquisitions

Shale, Midstream Deals Driving Merger Activity

The desire to acquire shale acreage and midstream assets in the United States continues to be strong, with domestic natural gas and oil mergers and acquisitions (M&A) values reaching $39 billion in the second quarter, according to an analysis by PwC US.

August 15, 2011

Shale, Midstream Deals Drive 2Q2011 Merger Activity

The desire to acquire shale acreage and midstream assets in the United States continues to be strong, with domestic natural gas and oil mergers and acquisitions (M&A) values reaching $39 billion in the second quarter, according to an analysis by PwC US.

August 11, 2011

PwC: U.S. Midstream, Shale Transactions Boost Merger Activity

Interest in acquiring shale acreage, midstream transactions and foreign investments in the United States drove domestic natural gas and oil mergers and acquisitions (M&A) value to $39 billion in the second quarter, according to an analysis by PwC US.

August 11, 2011

Chevron Still Learning in Marcellus, Says Upstream Chief

Chevron Corp. will continue to expand its unconventional natural gas operations in the United States but it first will focus on the Marcellus Shale, Vice Chairman George Kirkland said Friday.

August 1, 2011

Marathon Paying $3.5B to Grow Eagle Ford Stake

Marathon Oil Corp. has agreed to pay $3.5 billion to acquire the Eagle Ford Shale assets of Hilcorp Resources Holdings LP. Along with other transactions expected to close by the end of this year, Marathon’s Eagle Ford position is expected to more than double to 285,000 net acres, the company said.

June 2, 2011

U.S. Energy Sector M&A Still Going Strong, Says PwC

The total value of U.S. natural gas and oil and mergers and acquisitions (M&A) in the first three months of this year was up 69% from the same period a year ago and the rest of 2011 promises to be strong, according to a survey by PwC US.

May 19, 2011

West Virginia DEP Tells Two Companies to Cease Drilling

The West Virginia Department of Environmental Protection’s (DEP) Office of Oil and Gas (OOG) has ordered Antero Resources Appalachian Corp. and Bronco Drilling Corp. to cease operations at an Antero well pad in Harrison County, WV, following a March 21 incident in which drill cuttings were washed into a nearby stream, OOG said.

March 30, 2011

Industry Brief

Recovery Energy Inc. announced Monday that it has closed on a $12.3 million cash-and-stock deal to acquire oil and gas leases on 8,060 net acres from Houston-based Wapiti Oil & Gas LLC. The leasehold is located primarily northwest of the prolific Silo field in Laramie County, WY. The Wapiti sale follows Denver-based Recovery’s acquisition last month of approximately 1,700 acres in Weld County, CO and about 6,600 net acres in Goshen County, WY from various private individuals for $1.9 million in cash and stock. The combined acquisitions bring Recovery’s holdings in the Denver-Julesburg Basin to 148,000 gross acres (134,000 net acres).

March 8, 2011

Southwestern: New Entrants Quicken Fayetteville Pace

Two big-ticket acquisitions in the Fayetteville Shale by BHP Billiton Petroleum and XTO Energy Inc. suggest that the pace of development in the play will be accelerating, acknowledged Steve Mueller, CEO of Fayetteville veteran Southwestern Energy Co. But his company can hold its own, having locked in some of its costs and beaten down drilling times, Mueller said.

March 7, 2011

Southwestern Says It Can Keep Up with New Fayetteville Players

Two big-ticket acquisitions in the Fayetteville Shale by BHP Billiton Petroleum and XTO Energy Inc. suggest that the pace of development in the play will be accelerating, acknowledged Steve Mueller, CEO of Fayetteville veteran Southwestern Energy Co. But his company can hold its own, having locked in some of its costs and beaten down drilling times, Mueller said.

March 1, 2011