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Permian Giants Pioneer, Parsley Agree to Join Forces in $7.6B All-Stock Transaction

Permian Giants Pioneer, Parsley Agree to Join Forces in $7.6B All-Stock Transaction

Dallas-based Permian Basin pure-play Pioneer Natural Resources Co. agreed late Tuesday to join forces with competitor Parsley Energy Inc. in an all-stock deal valued at $7.6 billion including debt. The combined company would hold substantial sway in the Permian, with an estimated 930,000 net acres with no federal leases. At the end of June, the…

October 20, 2020
With $9.7B Concho Acquisition, ConocoPhillips to Become Permian Giant

With $9.7B Concho Acquisition, ConocoPhillips to Become Permian Giant

ConocoPhillips on Monday announced it is taking over Concho Resources Inc. for $9.7 billion in stock, forming a giant in the Permian Basin that would rival the output of the biggest players in the nation’s most productive oilfield. Concho, a Permian pure-play, is the fifth-largest producer by volume in the massive field. The combination marks…

October 19, 2020
BHP Boosts Prospects in Deepwater, Taking On Hess Stakes in Shenzi

BHP Boosts Prospects in Deepwater, Taking On Hess Stakes in Shenzi

Australian energy conglomerate BHP is increasing its upstream hold in the deepwater Gulf of Mexico after buying out Hess Corp.’s 28% stake in the Shenzi development for $505 million.  The transaction raises BHP’s interest in Shenzi, which it already operates with a 44% stake, by an estimated 11,000 boe/d. Repsol SA has the remaining 28%…

October 8, 2020
Caterpillar Transforming Pressure Pumping Business with Takeover of Weir Oil, Gas Division

Caterpillar Transforming Pressure Pumping Business with Takeover of Weir Oil, Gas Division

Caterpillar Inc., one of the world’s largest construction and mining operators, has agreed to pay $405 million to buy the Texas-based oil and gas division of Weir Group plc. Cat, as it is known, manufactures equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The takeover of Fort Worth-based Weir Oil &…

October 5, 2020
Noble Energy Shareholders Say Yes to Chevron Marriage

Noble Energy Shareholders Say Yes to Chevron Marriage

Shareholders of Houston-based Noble Energy Inc. on Friday approved a pending merger with Chevron Corp. in a special meeting, all but guaranteeing the tie up will be completed by year’s end. Chevron in July clinched a definitive agreement in an all-stock transaction worth $5 billion that carried a total enterprise value, including debt, of $13…

October 2, 2020
Two Midstreamers Pick Up Water, Natural Gas Pipelines in Separate Lower 48 Deals

Two Midstreamers Pick Up Water, Natural Gas Pipelines in Separate Lower 48 Deals

Houston-based Black Bear Transmission LLC said Thursday it has completed the sale of natural gas gathering assets in Oklahoma and Arkansas acquired earlier this year from Enbridge Inc.   The assets, owned by Ozark Gas Gathering LLC (OGG), were sold to an undisclosed buyer and terms were not released. OGG was acquired from Enbridge as part…

October 1, 2020
TC Energy Negotiating Pipeline Ownership Shares with Canadian Tribes

TC Energy Negotiating Pipeline Ownership Shares with Canadian Tribes

TC Energy Corp. agreed Tuesday to negotiate native ownership shares in its pipelines with five Canadian tribes, starting with the contested Keystone XL oil project to export 830,000 b/d to the United States. The company announced a memorandum of understanding (MOU) with Maskwacis Nations, Ermineskin Cree Nation, Montana First Nation, as well as the Louis…

September 30, 2020
Energy Transition Seen Pushing World’s Top E&Ps to Deal Global Assets

Energy Transition Seen Pushing World’s Top E&Ps to Deal Global Assets

Global oil and natural gas operators could be pushed to sell or trade $100 billion-plus in assets because of the energy transition to alternative fuels, but it’s likely the U.S. portfolios would be off the table, according to a new analysis. Rystad Energy did a deep dive on the geographical spread of some of the…

September 23, 2020
Chevron Tie-Up with Noble Said Facing Pushback by Activist Investor Elliott

Chevron Tie-Up with Noble Said Facing Pushback by Activist Investor Elliott

Chevron Corp., whose buyout of Anadarko Petroleum Corp. was scuttled last year, now is said to be facing obstacles to take over Noble Energy Inc. The San Ramon, CA-based major in July clinched a definitive agreement to acquire Houston super independent Noble in an all-stock transaction worth an estimated $5 billion that carries a total…

September 11, 2020
Lower 48 Energy Infrastructure Operators Artera Services, Otis Eastern Plan to Merge

Lower 48 Energy Infrastructure Operators Artera Services, Otis Eastern Plan to Merge

Artera Services LLC, which provides natural gas and electric industry infrastructure services across 34 states, has an agreement to acquire pipeline contractor Otis Eastern Services LLC. Atlanta-based Artera, renamed earlier this month, employs more than 8,500 people throughout the country. PowerTeam Services LLC earlier this month changed the name of the company following its acquisition…

September 1, 2020