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Callon Petroleum to acquire Carizzo Oil & Gas
July 16, 2019
Source: Reuters

Callon Petroleum to acquire Carizzo Oil & Gas

Houston-based Callon Petroleum has agreed to acquire energy firm, Carizzo Oil & Gas. The $1.2 billion-all stock deal will gain Callon a strong presence in the Permian shale basin and the Eagle Ford shale field. The combined entity will own approximately 200,000 net acres in the two basins, which yielded over 100,000 boed in the first quarter. The deal is slated to finalize in the fourth quarter.

Aceton acquires Proserv's business
July 9, 2019
Source: World Oil

Aceton acquires Proserv's business

Subsea services group Acteon has acquired Proserv's international Field Technology Services and Survey business units. This has added to its Claxton brand's subsea expertise. Aceton's Chief Executive said that this will add capabilities and capacity to their UTEC Survey offering and will help in the globalization of Claxton product and service range. The Survey business unit will join its existing UTEC Survey business.

Equinor to farm out stakes in Lundin Petroleum
July 8, 2019
Source: Reuters

Equinor to farm out stakes in Lundin Petroleum

Norwegian energy major, Equinor ASA yesterday informed about its plans of divesting 16% of its interests in Lundin Petroleum for approximately $1.56 billion. Equinor holds about $54.5 million in Lundin. The firm will also increase its direct ownership share in the Johan Sverdrup field by 2.6%, for a cash consideration of $910 million.

Edison farms out E&P division to Energean in $750 mn
July 5, 2019

Edison farms out E&P division to Energean in $750 mn

Greek oil and gas major, Energean has inked an agreement to acquire Edison E&P from Edison. The $750 million-deal will gain Energean 100% stake in Edison’s oil and natural gas unit. The acquisition will allow Energean to expand its operations in the emergent eastern Mediterranean gas hub, and establish an important presence in Egypt’s offshore basin.

Hindustan Oil Exploration inks agreement to acquire Hardy E&P’s India
July 3, 2019

Hindustan Oil Exploration inks agreement to acquire Hardy E&P’s India

India-based Hindustan Oil Exploration Company (HOEC) yesterday informed about entering a conditional agreement to acquire Hardy Oil and Gas’ Indian project office. Hardy E&P holds a tactical position in the oil and gas basins on the east coast of India and near the Bombay High field. Hardy E&P had been active in India’s oil and gas sector for more than two decades.

DP World announces acquisition of Topaz
July 2, 2019
Source: World Oil

DP World announces acquisition of Topaz

DP World PLC has acquired 100% of Topaz Energy and Marine Limited for $1,079 million. Topaz is the leading critical marine logistics and solutions provider to the global energy industry. The company has strong relations with big oil companies including BP, Chevron, Dragon Oil, Dubai Petroleum, ExxonMobil, Saudi Aramco and Tengizchevroil. This deal is in line with DP's strategy to enter into the global logistics and marine services industry.

RockRose concludes acquisition of Marathon Oil’s UK business
July 2, 2019
Source: Energy Voice

RockRose concludes acquisition of Marathon Oil’s UK business

British E&P firm, RockRose Energy has concluded the acquisition of Marathon Oil’s UK business. RockRose entered into an acquisition agreement in February this year to buy out Marathon’s UK division. The acquisition has gained RockRose the ownership to 40% operated stake in the Greater Brae Area, apart from a 28% stake in BP-operated Foinaven development and its satellite fields.

Shell farms out Alberta gas assets to Pieridae Energy
June 27, 2019
Source: Reuters

Shell farms out Alberta gas assets to Pieridae Energy

Canadian energy firm, Pieridae Energy has agreed to buy out Shell Canada’s gas assets in Alberta for $144.77 million. The deal will gain Pieridae the ownership to Shell’s midstream and upstream assets in Alberta, apart from three sour gas plants. Shell’s Alberta assets produce 29,000 barrels of natural gas, natural gas liquids and condensate. The acquisition secures for Pieridae the remaining supply needed for the proposed Goldboro LNG plant.

Government gives due recognition to ONGC as HPCL’s promoter
June 24, 2019

Government gives due recognition to ONGC as HPCL’s promoter

While India’s refinery major, HPCL continues to acknowledge its majority shareholder ONGC as a promoter, the Government of India has now stepped up and started giving ONGC its due credit. Sources have revealed that state headhunter PSEB called on ONGC Director to assist in picking the new Director (Finance), HPCL. ONGC completely acquired Government’s 51.11% stake in HPCL last year, the refiner has consistently listed "President of India" as its promoter.

ConocoPhillips inks agreement to acquire acreage in Alaska
June 19, 2019
Source: World Oil

ConocoPhillips inks agreement to acquire acreage in Alaska

US oil major, ConocoPhillips has inked an agreement with Caelus Natural Resources Alaska to buy 100% interest in the Nuna discovery, Alaska. Discovered in 2012, the Nuna prospect is located 5 mi southwest of Oooguruk field. The agreement signed by ConocoPhillips Alaska (COPA) includes the purchase of 11 tracts spanning across 21,000 acres. COPA will appraise the Nuna discovery in the upcoming years.

Keane Group and C&J Energy likely to merge
June 18, 2019
Source: Reuters

Keane Group and C&J Energy likely to merge

Sources have revealed that Keane Group Inc and C&J Energy Services will soon announce a merger to form a $1.5 billion-U.S. oilfield services company. Houston-headquartered Keane and C&J have market capitalizations of $733 million and $708 million, respectively. The proposed merger is in line with the current industry trend where services providers are trying to gain scale in order to save on costs by removing the overlap.

Total to close its $1 bn deal with Adani
June 14, 2019

Total to close its $1 bn deal with Adani

Total might acquire a 30% stake in India's city gas distribution (CGD) company Adani Gas. The deal would be will be worth over $800 million. According to Adani's spokesperson, “As a part of the company’s business growth strategy, we continue to evaluate various viable options”. It is after a strategic partnership in October aimed at developing various regasification LNG terminals, that both the companies have decided on this deal.

Shell farms out Martinez refinery to PBF Energy
June 12, 2019
Source: Reuters

Shell farms out Martinez refinery to PBF Energy

Shell has entered into an agreement with US refiner, PBF Energy to sell out its Martinez refinery in approximately $1 billion. Shell will pay ~$70 million in turnaround costs estimated in the first quarter of 2020. The oil supermajor was trying to sell the 1915-commissioned Martinez refinery for at least four years now. The 157,000 bpd-Martinez plant processes crude oil into gasoline, jet fuel, diesel and other refined products.

Comstock Resources to buy out Covey Park
June 11, 2019
Source: Reuters

Comstock Resources to buy out Covey Park

Texas-based Comstock Resources has agreed to buy the natural gas firm, Covey Park in an approximately $2.2 billion deal, including debt. The acquisition is aimed at reinforcement of Comstock’s position in the Haynesville shale basin. Covey Park’s acquisition would boost Comstock’s net production to over 1.1 billion cubic feet equivalent per day.

Devon Energy farms out Canadian assets in $2.8b
May 30, 2019
Source: Reuters

Devon Energy farms out Canadian assets in $2.8b

US E&P firm, Devon Energy has agreed to farm out its Canadian assets to Canadian Natural Resources Ltd. CNRL said on Wednesday that it will shell out $2.81 billion in cash to acquire the assets in Alberta, considering their natural fit to its operations. CNRL’s share jumped the most in almost two months as otherwise skeptical investors realized a good fit.

Total settles North Sea farm-in deal row in $1 million
May 29, 2019

Total settles North Sea farm-in deal row in $1 million

Total has reached an agreement with Jersey Oil & Gas (JOG) to settle the termination of asset farm-in deal of 2013. JOG will get approximately $949,500 as a full and final settlement from Total’s UK subsidiary. Total had agreed to buy equity in License P.2032 from JOG in 2013. However, Total didn’t exercise the ‘drill or drop’ in a six-month period and disputed the compensation to be made to JOG.

Medco Energi concludes $517.34m acquisition of Ophir Energy
May 23, 2019

Medco Energi concludes $517.34m acquisition of Ophir Energy

Indonesian oil major, Medco Energi has concluded the $517.34m acquisition of Ophir Energy. The UK-based exploration and production firm nodded to the proposed acquisition by Medco Energi in January, 2019. The estimated increase in Medco’s 2019 pro forma production will range around 29% to 110,000 boed. The $517.34 million all-cash acquisition was funded through a blend of existing cash resources and credit received under an agreement from Standard Chartered Bank.

HPCL seeks 8k crore rupees in loan to fund expansion
May 22, 2019

HPCL seeks 8k crore rupees in loan to fund expansion

Refinery major, HPCL is looking to borrow ₹8k crore to carry out its expansion plans. HPCL Chairman, MK Surana said that the proposed plan of raising Rs 12,000 crore in debt has been approved by shareholders. While HPCL is yet to decide upon the time or size of borrowings, it is clear that the fundraising does not involve borrowing plans of subsidiaries.

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