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Aramco Raises $12B-Plus in Oil Pipeline Deal with EIG-Led Consortium

Aramco Raises $12B-Plus in Oil Pipeline Deal with EIG-Led Consortium

Saudi Arabia Oil Co., better known as Aramco, has struck a $12.4 billion transaction to sell a minority stake in its oil pipeline operations to a consortium led by U.S.-based EIG Global Energy Partners.  The global investment group agreed to take 49% equity interest in newly created Aramco Oil Pipelines Co. Aramco today operates more…

April 13, 2021
Aria, Archaea Merger Looks to Create Largest Commercial RNG Platform in U.S.

Aria, Archaea Merger Looks to Create Largest Commercial RNG Platform in U.S.

Former Rice Energy Inc. CEO Daniel Rice expects renewable natural gas (RNG) to play a bigger role in the energy transition as the push for decarbonization grows. The special purpose acquisition company (SPAC) that he runs, Rice Acquisition Corp., on Wednesday announced plans to merge with landfill gas (LFG) specialists Aria Energy LLC and Archaea…

April 10, 2021
U.S. Oil, Gas M&A Activity Sinks in 1Q2021, but Signs of Momentum Ahead, Enverus Says

U.S. Oil, Gas M&A Activity Sinks in 1Q2021, but Signs of Momentum Ahead, Enverus Says

Consolidation in the U.S. upstream sector slowed to a relative crawl in the first quarter after rallying late in 2020. But there have been signs of increased activity in April and potential catalysts for more deals as the year wears on, according to an Enverus analysis. The oil and gas analytics company’s summary of 1Q2021…

April 9, 2021
Bonanza Creek Moderating DJ Well Completions to Optimize HighPoint Takeover

Bonanza Creek Moderating DJ Well Completions to Optimize HighPoint Takeover

With its takeover of fellow Colorado pure-play HighPoint Resources Corp. now complete, Bonanza Creek Energy Inc. is looking to optimize the combined well completions and midstream gathering needs, according to CEO Eric Greager. Bonanza Creek completed its merger with HighPoint on April 1. The closing allows the Denver-Julesburg (DJ) Basin operator to revamp the overall…

April 9, 2021
Whitecap Expands Montney Shale Footprint with Kicking Horse Acquisition

Whitecap Expands Montney Shale Footprint with Kicking Horse Acquisition

Whitecap Resources Inc. increased its liquids-rich Montney Shale natural gas assets with a C$300 million ($240 million) takeover of private equity-backed Kicking Horse Oil & Gas Ltd.The acquisition includes ownership interests averaging 65% in 92 square miles of Montney production and future drilling targets in the Grande Prairie area of northwest Alberta. “We are excited…

April 6, 2021
As Pacific LNG Exports Beckon, KKR Acquiring Stakes in Sempra’s Mexico, Gulf Coast Projects

As Pacific LNG Exports Beckon, KKR Acquiring Stakes in Sempra’s Mexico, Gulf Coast Projects

Global investment firm KKR is buying a stake in a Sempra Energy business unit that manages liquefied natural gas (LNG) projects in Mexico and along the U.S. Gulf Coast as it anticipates growth in North American energy infrastructure. Under the terms of the deal announced Monday, KKR will pay  $3.37 billion for a 20% non-controlling…

April 5, 2021
Pioneer Natural Building Permian Midland Stronghold with $6.4B DoublePoint Deal

Pioneer Natural Building Permian Midland Stronghold with $6.4B DoublePoint Deal

Dallas-based Pioneer Natural Resources Co., whose focus has long been in the Permian Basin Midland, is plunking down $6.4 billion to build its base with the takeover of West Texas competitor DoublePoint Energy LLC.  The deal, a cash-and-stock split, would add 97,000 net contiguous acres directly offsetting and overlapping Pioneer’s existing footprint. The mostly undrilled…

April 5, 2021
Lola Energy Acquires EdgeMarc’s Natural Gas-Heavy Assets in Western Pennsylvania

Lola Energy Acquires EdgeMarc’s Natural Gas-Heavy Assets in Western Pennsylvania

Lola Energy III LLC has acquired 22,000 net acres of oil and natural gas leases in western Pennsylvania from EdgeMarc Energy Holdings LLC.  Terms of the deal were not disclosed, but Lola said the assets in Butler County are producing 85 MMcfe/d from the Marcellus and Upper Devonian shales.  EdgeMarc was forced to file bankruptcy…

March 30, 2021
Oasis Divesting Midstream Stakes Under Simplification Agreement, Buying Back $100M Shares

Oasis Divesting Midstream Stakes Under Simplification Agreement, Buying Back $100M Shares

Oasis Petroleum Inc. and Oasis Midstream Partners LP (OMP) on Monday announced a simplification agreement through which OMP is acquiring the producer’s remaining interests in two development companies or “DevCos” that own midstream infrastructure assets in the Bakken Shale and Permian Basin. The agreement follows Oasis’ restructuring and emergence from bankruptcy last November. OMP is…

March 23, 2021
Expro Tie-Up with Frank’s International to Create Global Well Specialist

Expro Tie-Up with Frank’s International to Create Global Well Specialist

Houston-based Frank’s International NV agreed Thursday to combine in an all-stock transaction with the UK’s Expro Group, a tie-up that would bring together well experts ready to tackle what they see as growing opportunities. Expro, which would own 65% of the combined entity, is a privately held well access and flow optimization expert that employs…

March 12, 2021
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