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M&A

Woodside, BHP Agree to Merge in $28B Deal, Creating LNG Giant with Estimable Deepwater GOM Portfolio

Woodside, BHP Agree to Merge in $28B Deal, Creating LNG Giant with Estimable Deepwater GOM Portfolio

Australia’s Woodside Petroleum Ltd and BHP Group said Tuesday they would merge their natural gas and oil portfolios in an all-stock transaction estimated to be worth $28 billion, to create one of the biggest producers in the world. The proposed merger under the Woodside brand would create the largest energy company listed on the Australian…

August 17, 2021
Chesapeake Looks to Dominate Natural Gas-Rich Haynesville with $2.2B Vine Takeover

Chesapeake Looks to Dominate Natural Gas-Rich Haynesville with $2.2B Vine Takeover

Oklahoma City-based Chesapeake Energy Corp. is going back to the future, agreeing Wednesday to pay $2.2 billion for one of the Haynesville Shale’s biggest natural gas producers, Vine Energy Inc. The announcement hearkened to the past, when Chesapeake took advantage of low natural gas prices in the mid-2000s to build the biggest Lower 48 portfolio…

August 11, 2021
Lower 48 Output More than Doubles on Concho Takeover, Says ConocoPhillips

Lower 48 Output More than Doubles on Concho Takeover, Says ConocoPhillips

Houston-based ConocoPhillips reported higher earnings in 2Q2021 as it benefited from higher commodity prices and production driven by its recent acquisition of Permian Basin pure-play Concho Resources Inc. Excluding output from its Libya operations, the super independent reported 2Q2021 output of 1.55 million boe/d, a 566,000 boe/d increase over the same period of 2020. The…

August 3, 2021
Whitecap Slips into Black on Better Prices, Boosts Carbon Reduction Targets

Whitecap Slips into Black on Better Prices, Boosts Carbon Reduction Targets

Whitecap Resources Inc. scored a financial comeback in the first six months of this year while also taking steps to further reduce greenhouse gas (GHG) emissions. Following a series of acquisitions of smaller companies, Whitecap oil production grew to 72,475 b/d in first-half 2021 from 55,349 b/d a year earlier. Natural gas rose to 140.9MMcf/…

August 3, 2021
Montney-Focused Arc Reverses Losses on Higher Production, Commodity Prices

Montney-Focused Arc Reverses Losses on Higher Production, Commodity Prices

Liquids-rich natural gas wells and stronger commodity prices more than paid for an expensive corporate takeover and turned Montney shale specialist Arc Resources Ltd. back into a profitable producer during the first six months of this year. Increased output and prices of all products – natural gas, oil and condensate, and natural gas liquids (NGL)…

August 3, 2021
Inter Pipeline Scuttles Pembina Merger, Accepts $6.9B Brookfield Takeover Bid

Inter Pipeline Scuttles Pembina Merger, Accepts $6.9B Brookfield Takeover Bid

Toronto-based Brookfield Infrastructure Partners LP won a prolonged takeover contest for Inter Pipeline Ltd. (IPL) in Calgary today after adding an all-cash option to its bid for shareholder support and raising the total offer to about C$8.6 billion ($6.9 billion). At a cost of a deal-breaking penalty of C$350 million ($280 million), IPL canceled a…

July 26, 2021
Penn Virginia Looking to Lonestar to Build Eagle Ford Oil, Gas Potential

Penn Virginia Looking to Lonestar to Build Eagle Ford Oil, Gas Potential

Eagle Ford Shale pure-play Penn Virginia Corp. has agreed to buy Lonestar Resources Inc. in a deal that would expand its South Texas leasehold. Once completed, the Houston-based independent would control 143,000 net acres within the Eagle Ford, including Lonestar’s 53,000 net acres. Total sales volumes would be around 38,000 boe/d, up by about 13,000. …

July 13, 2021
Dominion Seeking New Buyer for Questar Natural Gas Assets After Scrapping Berkshire Hathaway Deal

Dominion Seeking New Buyer for Questar Natural Gas Assets After Scrapping Berkshire Hathaway Deal

Dominion Energy is looking for a new buyer of its Questar Pipelines after a deal to sell the Rockies natural gas transmission and storage assets to an affiliate of Berkshire Hathaway Inc. was scuttled. Dominion and Berkshire Hathaway Energy jointly announced the decision to terminate the deal on Monday, citing the “ongoing uncertainty associated with…

July 13, 2021
Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Energy Services Inc. has further boosted its wireline presence in the Lower 48 following the acquisition of PerfX Wireline Services, its second takeover since May.  The Houston-based oilfield services company said last week it had acquired Minot, ND-based  PerfX in an all-stock deal. The deal follows the acquisition of Patriot Completions Solutions LLC in…

July 12, 2021
U.S. Oil, Natural Gas M&A on Torrid Pace in 2Q, while Canada Led International Dealmaking

U.S. Oil, Natural Gas M&A on Torrid Pace in 2Q, while Canada Led International Dealmaking

After a cold start to the year, North American upstream merger and acquisition (M&A) activity heated up in the second quarter, with U.S. dealmaking alone hitting more than 40 deals valued at around $33 billion. Energy data analytics expert Enverus on Monday issued its 2Q2021 report on U.S. exploration and production (E&P) activity. Finbrook Pte…

July 12, 2021