Acquisitions

Energy Sector M&A ‘Inevitable,’ Says Expert

U.S. oil and natural gas mergers and acquisitions (M&A) in the third quarter jumped 135% from the same period a year ago, with nearly half of the transactions related to shale plays, according to the latest survey by consultancy PwC US.

October 31, 2011

Energy Sector Consolidation ‘Inevitable,’ Says Merger Expert

U.S. oil and natural gas mergers and acquisitions (M&A) in the third quarter jumped 135% from the same period a year ago, with nearly half of the transactions related to shale plays, according to the latest survey by consultancy PwC US.

October 28, 2011

Industry Brief

Encore Energy Partners LP(ENP) closed on an acquisition of producing oil and natural gas assets in the Permian Basin of West Texas for a net price of $14.8 million from a private seller. The properties have estimated total net proved reserves of 1.03 million boe, of which 87% are oil and natural gas liquids (NGL). They are 51% proved developed, and current production is about 115 Boe/d. The effective date of the acquisition was May 1, 2011. ENP also said it agreed to acquire certain nonoperated working interests in producing oil and natural gas assets in Sweetwater County, WY, from an undisclosed seller for $28.5 million. The assets have estimated total proved reserves of 4.175 million boe, of which 65% are natural gas and 35% are oil and NGLs. They are 90% proved developed, and net production attributable to the acquisition is 880 boe/d. Closing is expected in September with an effective date of June 1, 2011. ENP said it made new oil and gas hedges covering a substantial portion of the estimated production related to proved developed reserves from both acquisitions for the next several years.

August 26, 2011

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

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

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

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