Oil and natural gas mergers and acquisitions (M&A) “slowed dramatically” in the first three months of this year from 2012, with activity slipping about 40% from the full-year 2012 average and inventory down by almost one-third, according to PLS Inc. However, as it has been for a few years, North America continued to draw the most interest and the most dollars, pulling in close to two-thirds of the transactions by dollar value and almost 80% of the total deals.
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North America M&A Leads Global Markets in First Quarter
Oil and natural gas mergers and acquisitions (M&A) “slowed dramatically” in the first three months of this year from 2012, with activity slipping about 40% from the full-year 2012 average and inventory down by almost one-third, according to PLS Inc. However, as it has been for a few years, North America continued to draw the most interest and the most dollars, pulling in close to two-thirds of the transactions by dollar value and almost 80% of the total deals.
Halliburton Operations in Sticky Situation
North American margins for Halliburton Co. likely have been impacted “more than anticipated” in the second quarter because of the increased cost of guar gum, an additive used in hydraulic fracturing fluids, the oilfield services company said late Wednesday.
Market Mostly Soft; Northeast Spikes Lead a Few Gains
Lows slipping into the low to mid teens Tuesday and often accompanied by snow generated higher numbers, including some triple-digit spikes in the Northeast and a few other locations Monday. However, reflecting some weather moderation and easing of supply tightness since late last week, most of the market recorded losses.
Transportation Notes
Projecting that linepack on its California Gas Transmission system would be slipping slightly below minimum target levels from Wednesday through Friday, Pacific Gas & Electric issued a customer-specific low-inventory OFO for Thursday.
Mixed Market Sees Little Change in Pricing
The cash market appeared to be slipping into a holding pattern Wednesday with close-to-flat prices prevailing at virtually all points. Only a few points, nearly all in the West, saw prices move by a dime or more. Flat quotes were common in a market that was approximately evenly divided among losses of up to about 15 cents and gains that also ran as high as about 15 cents (Questar was an exception with an increase of about 30 cents).
Most Points See Small Gains; Rockies in Retreat
The cash market strength from Tuesday was slipping Wednesday, but a solid majority of points were still on the rise, although their gains were considerably smaller than the day before. Backsliding occurred in the Rockies as a winter storm was scheduled to have departed the area by Thursday.
Cash Slips at Most Points Outside Rockies; Slight Cool-Down Expected
Cash prices reversed course at most locations Tuesday, slipping anywhere from a few cents to more than 20 cents, except at a number of western points that posted 10- to 26-cent gains, including Northwest Pipeline, Opal, CIG and Kern River, which reported low linepack. Trading ranges were extremely tight, coming in at 5-10 cents in many markets.
Canadian Exports on Marked Downtrend; Alberta Demand Up
Canadian natural gas exports to the United States are slipping, in a trend large and long enough to start speculation that a long-forecast reduction has begun in Alberta’s role as an international supplier, due to rising domestic industrial consumption.
Canadian Exports on Marked Downtrend; Alberta Demand Up
Canadian natural gas exports to the United States are slipping, in a trend large and long enough to start speculation that a long-forecast reduction has begun in Alberta’s role as an international supplier, due to rising domestic industrial consumption.