Acquisitions & Divestitures


Morgan Stanley Will Sell CNG Business

Wentworth will be sold to Pentagon Energy LLC. The CNG will be exported to Latin America. Two Morgan Stanley managers involved with Wentworth will become Pentagon principals, sources told Reuters. 

Mon, 03/30/2015 - 15:05

Harvest Considers Restructuring After Venezuela Sale Fails

Houston-based Harvest has tried twice to sell its Venezuelan assets. The company holds a 20% stake in Petrodelta, a joint venture with state-owned Petroleos de Venezuela SA, Reuters said.

Mon, 03/30/2015 - 14:50

UK’s Range Resources Closes Texas Asset Sale

London-based based Range Resources Ltd. said March 24 that it completed the sale of its Texas assets to Citation Resources Ltd. (ASX: CTR.AX), based in Perth, Australia.  

Mon, 03/30/2015 - 12:01

Chevron Global Energy Closes Caltex Shares Sale

The shares were priced at AU$35 each, and proceeds will be $135,000,035. San Ramon, Calif.-based Chevron will receive the cash proceeds upon settlement on April 2.

Mon, 03/30/2015 - 11:37

Russia’s Eurasia Drilling Extends Schlumberger Deal Deadline

In February, Schlumberger said it planned buying a 45.65% stake in Eurasia for about $1.7 billion, potentially becoming sole owner of Russia's most active oilfield services company, Reuters said.

Mon, 03/30/2015 - 08:48

Chevron Will Exit Australian Shale Gas

Chevron Global Energy Inc. will sell its stake in refiner Caltex Australia Ltd., Business Wire said. Bloomberg said this marks Chevron’s exit from shale gas in Beach Energy’s Nappamerri Trough.

Fri, 03/27/2015 - 12:02

ConocoPhillips Might Sell Some Western Canada Assets

Bank of Nova Scotia will advise ConocoPhillips’ sale of about 20% of non-oil sands properties in Western Canada, Bloomberg said. About 35,000 barrels of oil equivalent per day is produced.

Fri, 03/27/2015 - 11:29

Galenfeha Closes Daylight Pumps Acquisition

Chemical injection systems seller Galenfeha acquired chemical injection pump systems maker Daylight Pumps. The North American chemical injection market share is about $1 billion annually.

Fri, 03/27/2015 - 11:20

Marquee Closes Michichi Acquisition

Richard Thompson, president and CEO, said the acquisition covers a 25-mile, multizone light oil fairway.  About 330 barrels of oil equivalent per day are produced. 

Thu, 03/26/2015 - 11:01

Radiant Oil & Gas Offers Louisiana Assets

PLS is marketing the trustee-ordered sale of nonoperated assets La Salle Parish, La. The property is on 40 acres with one well operated by Sanchez Oil & Gas Corp.

Thu, 03/26/2015 - 10:43

Blue Tip Energy Selling Uinta Producing Properties

Blue Tip Energy Management LLC is selling Uinta Basin producing properties in Carbon, Utah and Duchesne counties, Utah.

Darren Barbee
Thu, 03/26/2015 - 10:41

Patriot Royalties Offers Eagle Ford Acreage

The Eagle Ford acreage contains eight wells currently producing 40,000 barrels of oil and 13 million cubic feet of gas per month.  There are also additional proven undeveloped opportunities.

Wed, 03/25/2015 - 11:37