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ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

Houston-based ConocoPhillips on Monday agreed to pay $9.5 billion to buy Royal Dutch Shell plc’s Permian Basin portfolio, which a Shell executive said reflected “our focus on value over volumes” as it accelerates its energy transition from fossil fuels. Shell’s Permian business includes ownership in 225,000 net acres with current production of around 175,000 boe/d.…

September 20, 2021
Boardwalk Pipeline Targets Southwest Louisiana with Varibus Deal

Boardwalk Pipeline Targets Southwest Louisiana with Varibus Deal

Boardwalk Pipeline Partners LP is boosting its footprint in Louisiana with the acquisition of natural gas pipeline assets from Varibus LLC. The Houston-based midstreamer said last week its newly formed subsidiary Boardwalk Louisiana Gas Transmission LLC acquired the assets for an undisclosed sum earlier this month. Details on the transaction were scarce, but Boardwalk said…

September 20, 2021
Southwestern Taking Another Crack at Haynesville with $2.7B Indigo Acquisition Closure

Southwestern Taking Another Crack at Haynesville with $2.7B Indigo Acquisition Closure

Southwestern Energy Co. has completed its $2.7 billion takeover of Haynesville Shale pure-play Indigo Natural Resources LLC. The deal completed last Wednesday gives Southwestern a sizable footprint in the resurgent Louisiana play, improving the firm’s access to Gulf Coast liquefied natural gas (LNG) export markets. “This acquisition materially expands our opportunity set, adding high-margin Haynesville…

September 7, 2021
Enbridge Slaps Down $3 Billion for North America’s Largest Oil Export Terminal

Enbridge Slaps Down $3 Billion for North America’s Largest Oil Export Terminal

After scrapping its own plans to construct a deepwater crude oil facility, Enbridge Inc. is set to acquire North America’s largest crude export terminal after agreeing to pay $3 billion in cash for rival Moda Midstream Operating LLC. Under an agreement with EnCap Flatrock Midstream, Enbridge on Tuesday said it would acquire full operating interest…

September 7, 2021
In Ida’s Aftermath, October Natural Gas Futures Fly; Spot Prices Mixed

In Ida’s Aftermath, October Natural Gas Futures Fly; Spot Prices Mixed

Natural gas futures rallied for a fourth consecutive day, reaching a new 2021 high on Friday as the vast majority of Gulf of Mexico (GOM) production remained offline in the wake of Hurricane Ida and traders continued to mull supply/demand imbalance concerns. At A Glance: Futures hit highest level in nearly three years GOM production…

September 7, 2021
Southwestern Completes $2.7B Indigo Takeover as Haynesville Interest Heats Up

Southwestern Completes $2.7B Indigo Takeover as Haynesville Interest Heats Up

Southwestern Energy Co. has completed its $2.7 billion takeover of Haynesville Shale pure-play Indigo Natural Resources LLC. The deal completed Wednesday gives Southwestern a sizable footprint in the resurgent Louisiana play, improving the firm’s access to Gulf Coast liquefied natural gas (LNG) export markets. “This acquisition materially expands our opportunity set, adding high-margin Haynesville production…

September 2, 2021
Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale

Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale

Calgary-based Enerplus Corp. is selling off a small bundle of oil and natural gas interests in Montana and North Dakota for $115 million, but the Williston Basin remains a priority, the CEO said.   Stakes are being sold in Montana’s Sleeping Giant field and North Dakota’s Russian Creek area of the Williston, home to the Bakken…

September 1, 2021
Andros Capital Splashes $150M on Permian JV as Upstream PE Deals Heat Up

Andros Capital Splashes $150M on Permian JV as Upstream PE Deals Heat Up

Houston-based private equity (PE) firm Andros Capital Partners LLC said Wednesday (Aug. 25) it has closed a $150 million development drilling joint venture in the Permian Basin’s Spraberry and Wolfcamp formations in Midland County, TX. Andros affiliate Andros Permian LLC is to fund the drilling program in a joint venture partnership with exploration and production…

August 31, 2021
Kinder’s Kinetrex Deal Opens Door to Small-Scale LNG, RNG Investments

Kinder’s Kinetrex Deal Opens Door to Small-Scale LNG, RNG Investments

Kinder Morgan Inc. (KMI) has closed on its $310 million acquisition of Kinetrex Energy, part of the company’s new interest in low carbon investments. The acquisition includes liquefied natural gas (LNG) production and fueling facilities, a 50% interest in a landfill-based renewable natural gas (RNG) facility in Indiana, and commercial agreements for three additional RNG…

August 24, 2021
Lower 48 E&P Venture, Led by Former California Resources Team, Gets $500M Backing from Kayne Anderson

Lower 48 E&P Venture, Led by Former California Resources Team, Gets $500M Backing from Kayne Anderson

A recently launched Lower 48-focused energy firm has received a $500 million investment from private equity giant Kayne Anderson Capital Advisors LP. Santa Clarita, CA-based Black Knight Energy LLC was formed earlier this year “to pursue the acquisition and development of large, cash flowing oil and natural gas assets” across the Lower 48, the company…

August 20, 2021