Spree

National Oilwell Varco Inc. (NOV), which this year has completed six acquisitions worth $2 billion, on Thursday continued its shopping spree with a $2.5 billion cash offer for Texas operator Robbins & Myers (R&M). The deal would mark NOV’s biggest single acquisition since 2008, when it paid $7.7 billion to buy Grant Prideco.

Global LNG prices will be in a summertime lull until wintertime following a price run-up caused by a pre-summer supply buying spree, according to analysts at Bank of America Merrill Lynch. Still, LNG markets will remain tight in the coming years as import capacity additions continue while liquefaction growth takes a breather.

Global LNG prices will be in a summertime lull until wintertime following a price run-up caused by a pre-summer supply buying spree, according to analysts at Bank of America Merrill Lynch. Still, LNG markets will remain tight in the coming years as import capacity additions continue while liquefaction growth takes a breather.

Dynamic Offshore Resources LLC, which has been on a buying spree in the Gulf of Mexico (GOM) prior to the launch of an initial public offering (IPO), is paying ExxonMobil Corp. $182.5 million to acquire some offshore wells and properties that are 60% weighted to natural gas. The 13.5 million boe in new reserves would pump up Dynamic’s reserves base by nearly one-third (31%).

Pacific Gas and Electric Co. (PG&E) Tuesday went on an environmental and climate change shopping spree by launching a wildlife protection program in its ongoing utility operations and purchasing more than $2 million in greenhouse gas (GHG) emissions credits for forest conservation in two separate areas of Northern California. PG&E touted the effort as a potential model for other utilities.

Continuing on its buying spree in the energy sector, Iowa-based MidAmerican Energy Holdings Co. announced Thursday that it has acquired the 8,500-acre M&M Ranch and associated mineral/water rights in Wyoming from Lake DeSmet Energy Co., II, L.C. The deal closed on Thursday, and the company would not reveal any terms or dollar value of the purchase.

Facing an ongoing battle with Alberta regulators over the impact of its gas production on oilsands recovery, Paramount Energy Trust continued to expand its operations outside Alberta Wednesday with a C$148 million purchase of Cavell Energy Corp. The deal increases Paramount’s daily natural gas production by 21% to 110 MMcfe/d, is accretive to cash flow and expands the company’s operations into Saskatchewan.

Forest Oil Corp. said it purchased $102 million of stock in an undisclosed privately owned company with about 102 Bcfe of proved gas and oil reserves located primarily in the Permian Basin and five fields in South Texas.

Continuing its January buying spree, Constellation Energy Group (CEG) on Wednesday picked up more Canadian customers with the purchase of the Alberta-based electricity division of Dynegy Canada Inc. The division will become part of Constellation NewEnergy, the company’s energy supplier. Financial terms were not disclosed.