Merger

Montage Resources Corp., which emerged on Thursday after Appalachian pure-plays Eclipse Resources and Blue Ridge Mountain Resources officially combined, is aiming for double-digit production growth in the basin this year with a revamped strategy.

Spokane, WA-based Avista Corp. and Canada-based Hydro One Ltd. on Wednesday pulled the plug on their 18-month effort to complete the Toronto electricity giant’s $5.3 billion takeover proposal.

The merger proposed between Permian Basin producers Diamondback Energy Inc. and Energen Corp. has been approved by each company’s stockholders. Diamondback is acquiring the Birmingham, AL-based operator in an all-stock transaction estimated at $9.2 billion. The merger, set to be completed by Friday (Nov. 29), is giving Midland, TX-based Diamondback a total of 390,000 net acres across the Midland and Delaware sub-basins of the Permian, an 85% increase from Diamondback’s 211,000 net acres at the end of June.

SandRidge Energy Inc. said it plans to continue developing its assets in Colorado, the Mississippian Lime and the Midcontinent after the board determined that multiple offers for a merger or a sale fell short of expectations.

The California Energy Commission (CEC) is targeting the natural gas-consuming food processing industry with $57 million in grants provided by the Greenhouse Gas (GHG) Reduction Fund. The grants are aimed at adopting advanced energy efficiency and renewable energy technologies. CEC is offering grants to two tiers of potential projects. Individual grants of $100,000 to $3…

Houston-based Independence Contract Drilling Inc. (ICD) on Thursday said it would merge with cross-town rival Sidewinder Drilling LLC, a combination that would bring together contract drilling fleets concentrated in the Permian Basin and Haynesville Shale.

Calgary-based competitors Baytex Energy Corp. and Raging River Exploration Inc. agreed Monday to merge in a transaction estimated to be worth close to C$5 billion (US$3.78 billion) to create an onshore producer with holdings in Western Canada and South Texas.

Onshore producer SandRidge Energy Inc., buffeted by bankruptcy, squelched expansion plans and unsolicited takeovers, said Monday it now welcomes input on which direction to take, including any by the largest shareholder, Carl Icahn.

Supported by U.S. dealmaking in the Permian Basin, global upstream transactions hit $32 billion in the first quarter, according to oil and gas information provider 1Derrick.