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Deal

U.S. Dealmaking Off as Upstream Focuses on Organic Growth

Following a few years of operators tripping over themselves to expand U.S. oil and natural gas leaseholds, last year they were focused more on developing resources in hand rather than dealmaking, according to Deloitte Center for Energy Solutions.

February 11, 2014

U.S. Upstream Deals Smaller, More Conventional

Upstream operators were less enthusiastic about making big deals in 2013, and not nearly as glammed by unconventional natural gas and oil prospects as in years’ past, IHS Inc. researchers said.

January 3, 2014

U.S. Deals, Values Decline, Still Lead Global Activity

North America’s $15.9 billion in oil and natural gas merger and acquisition activity led the global markets during the third quarter with a 38% share, but overall U.S. activity and deal values declined year/year, according to PLS Inc. and Derrick Petroleum Services.

October 14, 2013
Forest Unloads Texas Panhandle Assets for $1B, Focusing on Eagle Ford

Forest Unloads Texas Panhandle Assets for $1B, Focusing on Eagle Ford

Forest Oil Corp. struck a $1 billion deal to sell oil and gas assets in the Texas Panhandle to Templar Energy LLC as part of a deleveraging program that will allow the company to focus on the Eagle Ford Shale. One analyst called the sale a positive, but investors booed and sent Forest shares tumbling on Friday.

October 7, 2013

IMG Inks Deal for Marcellus Gas to Fuel Small Local Power Plants

IMG Midstream, builder of small-scale natural gas-fired power generation facilities, has signed a long-term agreement for Chief Oil & Gas to supply the natural gas to power “multiple” generation projects in four northeastern Pennsylvania counties.

August 30, 2013
EVEP Lands First Utica Sale For $284M; 2Q Net Income Jumps 120%

EVEP Lands First Utica Sale For $284M; 2Q Net Income Jumps 120%

Nearly one year after it started looking for buyers for some of its acreage in Ohio’s Utica Shale, EV Energy Partners LP (EVEP) and its partnerships have made their first sale, agreeing to part with 22,535 net acres in the wet gas window for $284.3 million, the company said Friday.

August 13, 2013

Clean Energy Signs Big Deals in Transit, Trucking, Manufacturing

Newport Beach, CA-based Clean Energy Fuels Corp. scored a hat trick Tuesday, signing three major deals in transit, trucking and manufacturing, the last of which was characterized by the alternative fuel provider as a first of its kind.

August 7, 2013

People

A deal has been finalized in a Houston federal court to reduce the prison sentence of former Enron Corp. CEO Jeffrey Skilling by almost a decade to 14 years, making him eligible for release from a Denver federal prison in 2017. The Department of Justice in May had reached an agreement with Skilling, 59, under which he waived his right to any further appeals and allowed more than $40 million of his forfeited assets to be distributed to victims of Enron’s collapse in 2001 (see NGI, May 13). Skilling was convicted in 2006 on 19 criminal counts and sentenced to 24 years and four months (see NGI, May 29, 2006). The U.S. Court of Appeals for the Fifth Circuit in New Orleans twice said the sentence had been miscalculated (see NGI, April 11, 2011).

June 24, 2013

People

A deal was finalized Friday in a Houston federal court to reduce the prison sentence of former Enron Corp. CEO Jeffrey Skilling by almost a decade to 14 years, making him eligible for release from a Denver federal prison in 2017. The Department of Justice in May had reached an agreement with Skilling, 59, under which Skilling waived his right to any further appeals and allowed more than $40 million of his forfeited assets to be distributed to victims of Enron’s collapse in 2001 (see Daily GPI, May 9). Skilling was convicted in 2006 on 19 criminal counts and sentenced to 24 years and four months (see Daily GPI, May 26, 2006). The U.S. Court of Appeals for the Fifth Circuit in New Orleans twice said the sentence had been miscalculated (see Daily GPI, April 8, 2011).

June 24, 2013

Berkshire Hathaway Unit Buying NV Energy

A Berkshire Hathaway Inc. unit agreed Wednesday to buy Las Vegas utility NV Energy Inc. in a deal that values the company at about $5.59 billion with an enterprise value of close to $10 billion.

May 30, 2013