Oxy Joining Permian M&A Fray with $12B CrownRock Acquisition

Oxy Joining Permian M&A Fray with $12B CrownRock Acquisition

Occidental Petroleum Corp. (Oxy) has agreed to acquire privately held Permian Basin oil and natural gas producer CrownRock L.P. in a deal valued at roughly $12 billion. Oxy plans to finance the acquisition by incurring $9.1 billion in new debt, issuing about $1.7 billion of common equity and assuming CrownRock’s $1.2 billion of existing debt,…

December 11, 2023
Par Pacific Expanding Rockies Refining Capacity in $310M Deal with ExxonMobil

Par Pacific Expanding Rockies Refining Capacity in $310M Deal with ExxonMobil

Houston-based Par Pacific Holdings Inc. is snapping up ExxonMobil’s 63,000 b/d Billings, MT, oil refinery and associated assets to expand and diversify its portfolio. The transaction also is to include hydrocarbons and inventory, which would be valued at closing.  Par’s total throughput capacity would increase to 218,000 b/d. More than $30 million in commercial and…

October 21, 2022
FireBird Snags Chevron Permian Midland Properties

FireBird Snags Chevron Permian Midland Properties

Privately held explorer FireBird Energy LLC on Thursday said it bolted on 21,000 acres in the Permian Basin of West Texas in a deal with Chevron Corp. Financial details were not disclosed. The Midland sub-basin properties, 99% operated, are in Ector, Midland, Crane and Upton counties. They were acquired from Chevron U.S.A. Inc. and Chevron…

January 3, 2022
Oasis Selling Permian Assets for $406M, Doubling Down on Williston

Oasis Selling Permian Assets for $406M, Doubling Down on Williston

Oasis Petroleum Inc. said Thursday it is exiting the Permian Basin to become a Williston Basin pure play. The Houston-based independent is selling its Permian acreage to an undisclosed buyer for total gross consideration of up to $481 million.  Oasis will receive $406 million at closing and up to three $25 million annual contingent payments…

May 21, 2021

Husky Goes Hostile to Buy Oilsands Producer MEG Energy

One of Calgary’s premier oil and gas companies, Husky Energy Inc., has launched a hostile takeover for crosstown oilsands producer MEG Energy Corp.

October 2, 2018
BP’s $10.5B Leap into Lower 48 Onshore with BHP Buy ‘Transformational’

BP’s $10.5B Leap into Lower 48 Onshore with BHP Buy ‘Transformational’

BP plc late Thursday agreed to pay $10.5 billion to acquire nearly all of BHP’s massive U.S. onshore portfolio, giving it entry into the Permian Basin in West Texas, doubling its Haynesville Shale position and adding attractive acreage in the Eagle Ford Shale.

July 27, 2018

Briefs — EQT, Rice Merger

EQT Corp., to appease restive shareholders concerned about the $8 billion deal to acquireRice Energy Inc., has launched a nationwide search to add two “independent” board members with midstream experience. The directors would join an internal committee to be formedonce the transaction is completed. Some investors have pushed EQTto scrap the merger and instead separate the midstream and upstream businesses. A special shareholder meeting to approve the merger has been scheduled for Nov. 9. EQT’s board has approved the transaction.

October 25, 2017

Mexico’s CRE Publishes First Monthly Natural Gas Price Index

Marketers in Mexico sold natural gas at an average of price $4.10/MMBtu in July, the first month since the country implemented its capacity reservation regime.

August 21, 2017

Brief — WGL Holdings

WGL Holdings Inc. shareholders have approved the company’s plan to merge operations with Calgary-based AltaGas Ltd. During a special shareholder meeting at WGL’s corporate offices Wednesday, a proposal to approve the transaction was approved by 96.22% of the shares voted, which represented 71.88% of all outstanding WGL shares of common stock entitled to vote, the company said. The boards of directors of WGL and AltaGas have already unanimously approved the transaction, which is expected to close in the second quarter of 2018. The C$8.4 billion (US$6.4 billion) purchase was announced by the utilities in January. Under terms of the friendly takeover, the utility for which WGL is named — Washington Gas Light Co. — would not change its brand and would retain all current staff including executives. It will keep regulated public energy services in Maryland, Virginia and the District of Columbia, the merger partners said.

May 11, 2017

NatGas Trading Increased For First Time in Four Years in 2015, Analyst Says

The amount of natural gas traded in the United States increased in 2015 for the first time in four years, with overall trading volumes up 4.1% compared to 2014, according to an analysis of FERC Form 552 submissions by Cornerstone Research.

July 14, 2016
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