Pushed

Strategic investors and foreign buyers continue to press for deals in U.S. unconventional fields, but higher prices have pushed private equity (PE) momentarily to the sidelines, according to PwC US.

Slowing economic growth in China pushed nearly all equity markets south last week, with energy caught in a sell-off of “everything commodity-related,” but a flat natural gas rig count, combined with an eroding storage overhang, provide opportunities for U.S. gas prices and related operators to trade higher this year, said BMO Capital Markets Dan McSpirit and Phillip Jungwirth.

Nexen Inc. and CNOOC Ltd. have pushed back by 30 days the completion of the Canadian company’s C$15.1 billion takeover by the arm of state-controlled China National Offshore Oil Co.

Nexen Inc. and CNOOC Ltd. have pushed back by 30 days the completion of the Canadian company’s C$15.1 billion takeover by the arm of state-controlled China National Offshore Oil Co.

Randy Eresman, who has led Encana Corp. since 2006, suddenly resigned on Friday, fueling speculation about whether he jumped or was pushed out of the boardroom.

Cash prices ended the week on average about a dime lower as a cold front pushed through a number of East and Northeast delivery points and traders were reluctant to make purchases for over the weekend. Only one point was unchanged and all others were unable to climb out of the loss column.

Global oil production capacity increases, especially from unconventional U.S. oil, are accelerating so quickly that output could jump almost 20% by 2020, which could dramatically reduce and possibly collapse oil prices, according to an analysis by a Harvard Kennedy School researcher and former oil industry executive.

Increased exploration in North America last year pushed oil and natural gas sector transactions to record highs, according to Ernst & Young LLP. The consultancy’s “Global Oil and Gas Transactions Review 2011,” a compilation of data on oil and gas merger and acquisition (M&A) activity in 2011, was unveiled last week.

Increased exploration in North America last year pushed oil and natural gas sector transactions to record highs, according to Ernst & Young LLP.