M&A

Financial analysts on Wednesday said the bidding war for Anadarko Petroleum Corp. by Chevron Corp. and Occidental Petroleum Corp. was unheard of in the exploration and production (E&P) sector.

Murphy Oil Corp. on Tuesday said it has snapped up producing deepwater Gulf of Mexico (GOM) assets from units of LLOG Exploration Co. for $1.375 billion.

Chevron Corp.’s takeover of Anadarko Petroleum Corp. is likely to “shake up the U.S. upstream sector” and create an operator that domestically would rival ExxonMobil Corp., analysts said Friday.

Royal Dutch Shell plc has agreed to sell to Israeli-based Delek Group Ltd. its stakes in the producing Caesar-Tonga field in the deepwater Gulf of Mexico (GOM) for $965 million.

Crestwood Equity Partners LP has taken full ownership of the Jackalope Gas Gathering System and Bucking Horse Processing Plant in Converse County, WY, after acquiring the other half stake from Williams for $485 million in cash.

Fed up with a lack of action on their plans to drive more value at EQT Corp., shareholders Toby and Derek Rice on Thursday said they intend to nominate nine candidates to the board who would back their vision.

To keep its focus — and capital — on a U.S. portfolio concentrated in the Gulf of Mexico (GOM) and the Eagle Ford Shale, Murphy Oil Corp. on Thursday said it is exiting Malaysia in a deal worth more than $2 billion.

With an eye on optimizing its position in the Marcellus and Utica basins, Williams has purchased the remaining 38% stake in the Utica East Ohio (UEO) Midstream from Momentum Midstream and will take over as operator through a partnership with investment group Canada Pension Plan Investment Board (CPPIB).

Equitrans Midstream Corp. said Thursday that it has reached a deal with Morgan Stanley Infrastructure Partners to acquire two midstream systems in the Appalachian Basin for $1.03 billion, marking its first strategic transaction since it separated from EQT Corp. late last year.