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Chesapeake to buy Wild Horse for almost $4 billion category
Oct. 31, 2018

Chesapeake to buy Wild Horse for almost $4 billion

Chesapeake Energy Corp has announced that it will buy oil producer Wild Horse Resource Development Corp. The deal is worth nearly $4 billion. Chesapeake has strategized this move to increase the oil production capacity in the course of rising crude prices. CEO of Chesapeake said “We plan to focus the vast majority of our projected 2019 activity on our high-margin, higher-return oil opportunities in the PRB and Eagle Ford Shale”

Petronas to buy stake in Al Khazzan category
Oct. 22, 2018
Source: The Star

Petronas to buy stake in Al Khazzan

After a bidding held by Oman Oil Company, Malaysia’s Petronas informed that its subsidiary, PC Oman Ventures Ltd, will buy 10% stakes in Al Khazzan gas field of Oman. The subsidiary of Petronas will procure the stakes in Block 61 of the field and its expected production capacity is 1.5 billion cubic feet per day by 2020. Oman Oil Company Exploration and Production has 40% stakes in the block.

Big revelation about ONGC GSPC deal category
Oct. 22, 2018

Big revelation about ONGC GSPC deal

The former chairman of India's ONGC, DK Sarraf revealed that ONGC bought the stakes of Gujarat State Petroleum Corp (GSPC) in KG basin block at Rs 8,000 crore when the asking price was Rs 20,000 crore. He said that unlike the comments of opposition, ONGC’s move to meet the disinvestment target through GSPC by selling the stake in HPCL was “strategic and of immense value proposition”.

MEG rejects Husky’s offer category
Oct. 18, 2018

MEG rejects Husky’s offer

Earlier this month, Husky Energy Inc. made a formal offer to buy each MEG share for C$11 in cash. Canada’s MEG has rejected its rival’s offer by considering it as an undervalued proposal. MEG issued a statement saying, “The board ... has unanimously determined that the Husky offer significantly undervalues the common shares and is not in the best interests of MEG or MEG shareholders,”

Lundin's deal with Equinor category
Oct. 4, 2018
Source: Energy Voice

Lundin's deal with Equinor

Europe’s leading E&P Company, Lundin Petroleum will acquire Equinor’s 15% in the Norway’s license including the discovery of Luno II. The deal involves the transfer of 20% stake in the Rungne to Equinor. This acquisition will increase Lundin’s interest in PL359 to 65%. The transaction date has been decided as January, 2018 and completion is the matter of government approvals.

HALO to acquire Third Energy category
Sept. 20, 2018
Source: World Oil

HALO to acquire Third Energy

London’s major oil and gas company, HALO, has entered into an agreement with the conditional acquisition of Third Energy Offshore Ltd. The London major will acquire the complete share capital of Third Energy whose portfolio includes 45% interests in the Greater Pegasus Area. HALO will proceed with this procurement through its wholly owned subsidiary Hague and London Oil B.V. (HALO).

ADNOC to acquire stakes in $44b project in India category
June 20, 2018
Source: Al Arabiya

ADNOC to acquire stakes in $44b project in India

UAE’s state-owned ADNOC is purchasing a 25% stake from Saudi Aramco in the $44 billion refinery and petrochemical project in India. The company will enter into an agreement with Saudi Aramco and Indian companies (IOCL, HPCl, and BPCL) on Monday. This decision is being seen as the realization of the growing fuel demand in Asia, which will prove to be a stable outlet for the crude they produce.

Cox Oil to acquire Energy XXI Gulf Coast category
June 19, 2018

Cox Oil to acquire Energy XXI Gulf Coast

Gulf-based Cox Oil has entered into an agreement to acquire Energy XXI Gulf Coast in $322 million. Cox Oil will secure all of the outstanding shares of Energy XXI’s common stock for $9.10/share, as part of the agreement. This will effectively terminate Energy XXIs partnership with Orinoco Natural Resources LLC announced last month. Upon completion of the deal, Cox Oil’s production will be boosted to more than 61,000 boe/d.

LyondellBasell in talks to acquire Braskem category
June 18, 2018

LyondellBasell in talks to acquire Braskem

Dutch multinational, LyondellBasell, is into discussions with Odebrecht to acquire leading plastic producer, Braskem. The two companies jointly talked about sharing a strong culture of operational excellence and legacies of value-creating innovation. The negotiations are into preliminary phase and no agreements have been reached yet. Appropriate diligence, definitive agreements, and corporate approvals are still due.

APA receives $9.8b takeover bid category
June 14, 2018
Source: Mining Weekly

APA receives $9.8b takeover bid

The Australian gas pipeline company APA has received a $9.8b takeover offer from a Hong Kong based conglomerate led by CK Infrastructure Holdings yesterday, with the Australian firm agreeing to open its books. APA, whose assets include some 15000 km long gas transmission pipelines and storage, with wind and solar farms across Australia, said that it was in shareholders’ interests to engage further.

Northern Oil acquires Salt Creek’s assets category
June 10, 2018

Northern Oil acquires Salt Creek’s assets

In a $40m and $6m share deal, Northern Oil & Gas Inc has acquired the Williston basin oil production and acreage from Salt Creek Oil & Gas LLC. Salt Creek’s major shareholder, Deutsche Rohstoff AG, said that the transaction value at closing was $63.6m. Northern O&G’s assets in Williston basin include 1,380 boe/d of production and 1,319 acres, held by production with an average net revenue interest of 86%.

Akita to buy Xtreme Drilling Corp. category
June 6, 2018
Source: Compelo Energy

Akita to buy Xtreme Drilling Corp.

Canada-based Akita Drilling is acquiring its rival Xtreme Drilling Corp. in a major C$209-million stock-cum-cash deal. The merged companies, which will operate under Akita’s umbrella, will have a total of 44 rigs in major resource basins in Canada and the United States. The merger is expected to help Akita sustain its position in the active Canadian markets. The merger is likely to be completed in Q3 of 2018-19.

Qatar Petroleum buys stakes in Argentine oil firms category
June 4, 2018
Source: Kuna

Qatar Petroleum buys stakes in Argentine oil firms

State-owned Qatar Petroleum has signed an agreement with Exxon Mobil to become a 30% equity holder in ExxonMobil Exploration Argentina SRL and Mobil Argentina SA. The companies hold rights with other partners for seven blocks under unconventional exploration licenses with active drilling plans. This is, notably, Qatar Petroleum’s first investment in Argentina, and first ever international investment in unconventional resources.

IBETO Cement acquires Century Petroleum category
June 4, 2018
Source: The Nation

IBETO Cement acquires Century Petroleum

Nigeria-based IBETO Cement Company Limited acquired US E&P firm, Century Petroleum Corporation. IBETO’s acquisition of 70 percent stake in Century through reverse merger has helped the company bypass the lengthy and complex process of going public. IBETO is expected to be the first Nigerian firm to be listed in the United States Stock Exchange.

Presidio Petroleum acquires assets in Western Anadarko category
June 4, 2018

Presidio Petroleum acquires assets in Western Anadarko

Presidio Petroleum LLC has acquired Midstates Petroleum’s assets in Western Anadarko for $58 million. This acquisition has been facilitated by a major equity investment from Morgan Stanley Energy Partners (MSEP) in Presidio Petroleum. Presidio recently formed a strategic partnership with MSEP, which makes equity and equity-related investments in middle-market companies.

Indorama acquires PET plant in Brazil category
May 26, 2018
Source: ICIS

Indorama acquires PET plant in Brazil

Indorama Ventures Public Co Limited (IVL) has completely acquired the Polyethylene Terephthalate (PET) plant of Mossi & Ghisolfi's (M&G) in Brazil, as stated by IVL in a filing with the Stock Exchange of Thailand. IVL took control of the operations in the plant as it completed all of the closing formalities on Thursday. The plant operates at a PET capacity of 550,000 tonnes/year.

Mubadala acquires stake in Gazprom Neft-Vostok category
May 25, 2018
Source: Rigzone

Mubadala acquires stake in Gazprom Neft-Vostok

Abu Dhabi's state-owned Mubadala Investment Company has acquired a 44 percent stake worth $271 million in Gazprom Neft-Vostok, an oil subsidiary of the Gazprom, Russia. The Russian oil subsidiary's combined production reduced by 3 percent to 1.64 million tons in 2017 following an agreement between OPEC, Russia, and other producers in the same year, to bring down global oil output to eliminate oversupply.

HPCL and MRPL merger likely in 2019 category
May 23, 2018
Source: Economic Times

HPCL and MRPL merger likely in 2019

HPCL's CMD Mukesh K. Surana has stated that HPCL is looking towards acquiring MRPL by the end of the financial year 2018-19. A lot of synergies will arise from this merger for both HPCL and MRPL, all the while boosting HPCLs refining capacity and adding more products to its output. HPCL was acquired by ONGC earlier this year for Rs. 36,915 crores.

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