Consolidation

ConocoPhillips Touts Concho Tie-Up, but Warns Election Results May Delay Alaska Project

ConocoPhillips Touts Concho Tie-Up, but Warns Election Results May Delay Alaska Project

ConocoPhillips swung to a third quarter loss, as oil and gas production curtailments made in response to the coronavirus pandemic’s impact on energy demand curbed revenue. The Houston-based super independent, however, has recovered ground in recent months and is going on offense in the Permian Basin with its planned acquisition of Concho Resources Inc., a…

October 30, 2020
Canada’s Cenovus, Husky to Swap Shares, Combine in C$23.6B Deal

Canada’s Cenovus, Husky to Swap Shares, Combine in C$23.6B Deal

Cenovus Energy Inc. announced Sunday it would take over Canadian oil and gas rival Husky Energy Inc., combining two of the country’s top producers, in a share swap valued at C$3.8 billion ($2.85 billion). Total estimated value of the transaction, including debt, is C$23.6 billion ($17.7 billion). The run rate synergies achieved by the corporate…

October 26, 2020
Lower 48 E&P Consolidation Continues as Contango, Mid-Con Agree to Merge

Lower 48 E&P Consolidation Continues as Contango, Mid-Con Agree to Merge

One day after two giant Canadian producers announced a tie-up and less than a week after other mega mergers were announced, Houston-based Contango Oil & Gas Co. agreed to expand its holdings in the Lower 48 in an all-stock merger with Mid-Con Energy Partners LP.  Contango works the shallow waters of the Gulf of Mexico…

October 26, 2020
Contango Oil Builds Lower 48 Portfolio in Tie-Up with Mid-Con Energy

Contango Oil Builds Lower 48 Portfolio in Tie-Up with Mid-Con Energy

Consolidation in the U.S. exploration sector continued to gain steam Monday, with Contango Oil & Gas Co. announcing an all-stock merger with Mid-Con Energy Partners LP one day after a big tie-up in the Canadian oilpatch.  Houston-based Contango works the shallow waters of the Gulf of Mexico (GOM) and across the Lower 48, mostly in…

October 26, 2020
ConocoPhillips Strikes $9.7B Deal to Buy Concho, Create Permian Behemoth

ConocoPhillips Strikes $9.7B Deal to Buy Concho, Create Permian Behemoth

ConocoPhillips on Monday announced it is taking over Concho Resources Inc. for $9.7 billion in stock, forming a giant in the Permian Basin that would rival the output of the biggest players in the nation’s most productive oilfield. Concho, a Permian pure-play, is the fifth-largest producer by volume in the massive field. The combination marks…

October 19, 2020
PE Funds Said Pitching Oil Path Value Over Growth in Low-Price WTI Environment

PE Funds Said Pitching Oil Path Value Over Growth in Low-Price WTI Environment

Existing “bread and butter” portfolios are outshining new investments by private equity (PE), but the bigger focus is on reducing costs amid this year’s unprecedented oil market collapse. Chief Investment Officer Dan Pickering, who launched Pickering Energy Partners (PEP) in 2004 as a predecessor to energy investment and merchant banking firm Tudor, Pickering, Holt &…

October 1, 2020
Devon, WPX in $12B ‘Merger of Equals,’ Combining Permian, Multi-Basin Portfolios in Lower 48

Devon, WPX in $12B ‘Merger of Equals,’ Combining Permian, Multi-Basin Portfolios in Lower 48

Lower 48 giants Devon Energy Corp. and WPX Energy Inc. said Monday they are tying up in an all-stock transaction valued at $12 billion including debt to create operations dominated by a 400,000 net acre Permian Basin leasehold. The two Oklahoma-based independents said the company, still branded as Devon, would create a “merger of equals”…

September 28, 2020
Liberty Oilfield Supercharging North America Fracturing Business with Schlumberger’s OneStim

Liberty Oilfield Supercharging North America Fracturing Business with Schlumberger’s OneStim

Denver-based Liberty Oilfield Services Inc. is set to become the third largest oilfield services operator in North America after clinching a deal to take over Schlumberger Ltd.’s massive hydraulic fracturing business. In the agreement, the Houston-based giant is contributing its onshore OneStim completions business in exchange for a 37% stake in Liberty. OneStim provides pressure…

September 1, 2020
Permian Said Likely to See More E&P Consolidation, Continued Bottlenecks as Supply Increases

Permian Said Likely to See More E&P Consolidation, Continued Bottlenecks as Supply Increases

The Permian Basin, one of the greatest comeback stories in the long history of the oil and gas industry, was given a new and better life with unconventional techniques, and opportunities still exist, but they won’t come without a few challenges, according to research by the University of Houston (UH).

August 27, 2019

ICE’s $8.2B NYSE Tie-Up to Help Iconic Exchange Evolve

Proving that the round of exchange consolidation that took place just a few years ago wasn’t quite complete, Atlanta-based IntercontinentalExchange (ICE) on Thursday said it plans to acquire the New York Stock Exchange (NYSE) in a deal valued at $8.2 billion. ICE executives pointed out that the deal, if consummated, would bring little change to the iconic Manhattan trading floor.

December 24, 2012
‹ Previous 1 2 3 5