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SLB Jumping into Merger Game with ChampionX, Aker Carbon Deals to Accelerate E&P Efficiencies, CCUS

SLB Jumping into Merger Game with ChampionX, Aker Carbon Deals to Accelerate E&P Efficiencies, CCUS

In its second transaction in less than a week, SLB Ltd. agreed Tuesday to buy ChampionX Corp., considered a leader in oilfield reservoir optimization. The all-stock merger with ChampionX, headquartered in The Woodlands north of Houston, was valued at nearly $8 billion. Once the transaction is completed, now expected by year’s end, ChampionX shareholders would…

April 3, 2024
SilverBow Reviewing Kimmeridge Proposal to Form Biggest Eagle Ford Pure-Play

SilverBow Reviewing Kimmeridge Proposal to Form Biggest Eagle Ford Pure-Play

SilverBow Resources Inc.’s board plans to “carefully review and consider” a proposal from activist investor Kimmeridge Energy Management LLC to merge its natural gas production subsidiary in a tie-up that could become the largest South Texas exploration and production company. In a letter to shareholders, Kimmeridge proposed to merge Kimmeridge Texas Gas LLC (KTG) into…

March 13, 2024
Amid Oil and Natural Gas Consolidation Frenzy, Chevron’s Guyana Mega-Deal Facing Hurdles

Amid Oil and Natural Gas Consolidation Frenzy, Chevron’s Guyana Mega-Deal Facing Hurdles

ExxonMobil is trying to put a stop to Chevron Corp. and its bid to enter the lucrative Guyanese offshore oil and natural gas patch. The company has filed for arbitration, claiming Chevron’s bid to snap up Hess Corp.’s Guyana assets goes against a contract clause that grants ExxonMobil a right of first refusal. Last October,…

March 12, 2024
EQT’s Rice Touts Natural Gas ‘Competitive Advantage’ in $5B-Plus Recombination Deal with Equitrans

EQT’s Rice Touts Natural Gas ‘Competitive Advantage’ in $5B-Plus Recombination Deal with Equitrans

EQT Corp., the largest natural gas producer in the United States, agreed Monday to buy former entity Equitrans Midstream Corp., bringing back together Appalachian-based giants in what executives said was a game-changing opportunity. The all-stock transaction, estimated Monday at around $5.5 billion, would hold 27.6 Tcfe of proved reserves across nearly two million net acres.…

March 11, 2024
TC Offloading New England Natural Gas System to Advance Strategy

TC Offloading New England Natural Gas System to Advance Strategy

TC Energy Corp. has inked a $1.14 billion agreement to sell the Portland Natural Gas Transmission System (PNGTS) to BlackRock Inc. and Morgan Stanley Infrastructure Partners as it pares debt and streamlines its North American pipeline business.  The Calgary-based pipeline giant holds 61.7% ownership of PNGTS, a 295-mile, 290 million Dth/d line. Énergir LP subsidiary…

March 5, 2024
Atlas Energy, Hi-Crush Combination Set to Deliver ‘More Sand, More Barrels’ for Permian E&Ps

Atlas Energy, Hi-Crush Combination Set to Deliver ‘More Sand, More Barrels’ for Permian E&Ps

Austin, TX-based Atlas Energy Solutions Inc. has clinched an agreement valued at $450 million to acquire Hi-Crush Inc., merging two proppant sand operators to create the largest operator in the Permian Basin. In the agreement, scheduled for completion by the end of March, Atlas would pay $150 million cash, trade $175 million in common shares…

February 28, 2024
Jera Inks Equity, Offtake Agreements for Woodside’s Scarborough LNG Project

Jera Inks Equity, Offtake Agreements for Woodside’s Scarborough LNG Project

Jera Co. Inc., one of the world’s largest LNG buyers, has secured a 15.1% stake in Woodside Energy Group Ltd.’s Scarborough project as it continues to look for stable long-term supply for Japanese power production. Under the transaction, valued at $1.4 billion, Jera would obtain a non-operating interest in the Scarborough partnership and offtake an…

February 26, 2024
Chord, Enerplus Building $11B Bakken Oil, Natural Gas Heavyweight with Merger  

Chord, Enerplus Building $11B Bakken Oil, Natural Gas Heavyweight with Merger  

Chord Energy Corp. has agreed to acquire fellow Williston Basin producer Enerplus Corp. in a stock and cash transaction that would create a company with a combined enterprise value of about $11 billion. The purchase price equates to almost $4 billion, based on closing share prices Wednesday when the deal was announced, noted Enverus Intelligence…

February 22, 2024
BP, Adnoc East Mediterranean Partnership to Advance Egyptian Natural Gas

BP, Adnoc East Mediterranean Partnership to Advance Egyptian Natural Gas

Abu Dhabi National Oil Co. (Adnoc) and BP plc are creating a joint venture (JV) focused on Egyptian natural gas production as conflict in Israel and Palestine continues to pressure Eastern Mediterranean energy exports. The new JV, majority-owned by BP (51%), would include the London-based major’s interest in three offshore development concessions, as well as…

February 20, 2024
Nebula Energy Buys Majority Stake in AG&P LNG to Fast-Track Asian Natural Gas Projects

Nebula Energy Buys Majority Stake in AG&P LNG to Fast-Track Asian Natural Gas Projects

U.S.-based Nebula Energy LLC has invested $300 million for a majority stake in AG&P Terminals & Logistics Pte Ltd., aka AG&P LNG. The investment firm is expanding its business in the liquefied natural gas and carbon capture and storage sectors with its investment in AG&P, with plans to fast-track infrastructure development across emerging markets in…

February 16, 2024
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