Mergers NEWS

The latest deal in a wave of US energy consolidation was announced on Monday. Shale oil producer Cimarex Energy and Cabot Oil & Gas revealed a “merger of equals” that will create a group with an enterprise value of $17bn. The combination brings together Cimarex’s oil assets in the prolific Permian shale field of West Texas and New Mexico, and Cabot’s acreage in northeast Pennsylvania’s Marcellus Shale, the biggest US gasfield.

The successful merger of Anvil International and Smith-Cooper International (SCI) has been announced. This merger will place both the companies in a leading position as designer, manufacturer and provider of piping system products. This group has added to its portfolio global brands including AFCON, Anvil, Anvil EPS, AnvilPress Anvil-Strut, Basic-PSA, Beck, Catawissa, Cooplok, Cooplet, FlexHead, FPPI, Gruvlok, J.B. Smith, Merit, Megawatt, North Alabama Pipe, SCI, Sharpe, SPF/Anvil and SprinkFLEX.

A C$2.8bn ($2.13bn) merger agreement has been signed by the Canada-based Baytex Energy and its rival oil company, Raging River Exploration. The merged entity will trade under the name Baytex Energy, with a total worth of approximately $5bn. The combined firm will have an approximate production capacity of 94,000 boe/d, with a very diverse oil asset portfolio across Canada and in Texas.