Companies are motivated by ambition and opportunity, while sellers are trying to get ahead of debt or stay afloat in a turbulent year for A&D.
The Ontario Teachers’ Pension Plan buys oil and gas royalty company Heritage Royalty for C$3.3 billion to acquire one of the largest royalty, mineral interests in Canada despite down commodity prices.
The partnership could serve as a launching point for continued growth in the region, analyst says.
New Standard’s drilling and operating program in the Eagle Ford has been overseen by its majority shareholder, Magnum Hunter Resources Corp.
Only a portion of the Utica and Marcellus pipeline was up for sale, but a premium bid worth hundreds of millions changed CEO Gary Evans’ thinking.
Freeport-McMoran Oil & Gas Inc. controls millions of acres in Texas, California, Louisiana and Africa, but low oil prices have stifled investment and will hurt growth.