Acquisitions & Divestitures

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IHS Closes Acquisition Of OPIS

OPIS, the most complete source for U.S. refined petroleum pricing data, news and analytics for the downstream market, will remain based in Gaithersburg, Md.

Erin Pedigo
Thu, 02/11/2016 - 11:17
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MRC Global To Sell OCTG Business For $48 Million

The Houston company has entered into an agreement to sell its U.S. oil country tubular goods (OCTG) business to Sooner Pipe LLC, a subsidiary of Marubeni-Itochu Tubulars America Inc.

Emily Moser
Thu, 02/11/2016 - 08:03
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Exor To Buy Welltec Stake For $116 Million

Exor said low valuations in the oil and gas sector presented opportunities for companies such as Welltec, which provides robotics for the cleaning, maintenance and repair of oil wells.

Emily Moser
Thu, 02/11/2016 - 07:53
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Golar LNG Partners Will Acquire Ownership Interests Of Tundra Corp.

Revolving credit facility borrowings will fund the remaining $70 million cash purchase price for the Golar Tundra. About $380 million of debts will then mature in 2021 instead of from 2018.

Erin Pedigo
Wed, 02/10/2016 - 15:40
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Devon Hires Jefferies As Banker In Sale Of Noncore Assets

"We are moving ahead with the divestiture program and have already received numerous indications of interest," Howard Thill, Devon's senior vice president for communications and investor relations told Reuters.

Erin Pedigo
Wed, 02/10/2016 - 10:43
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Marketed: Arsenal Energy’s Producing Properties, Williston Basin

Arsenal Energy Inc. is offering producing properties in the Williston Basin in North Dakota.

Meagher Energy Advisors has been retained by the company's U.S. subsidiary, Arsenal Energy USA Inc., to handle the transaction.

The properties include 59 operated and 55 nonoperated wells. The majority of production comes from the Bakken/Three Forks formations in the Stanley and Lindahl fields.

The Stanley Field consists of 4,212 net acres, 100% HBP, in Mountrail County, N.D. Lindahl consists of 1,588 net acres, also HBP, in the northeast corner of Williams County, N.D.

Most of the company's other acreage is in Burke County, N.D.

Emily Moser
Wed, 02/10/2016 - 08:13
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Nobel Upstream Buys Shell's Stake In Maclure North Sea Field

The field, operated by Denmark's Maersk Oil, is located in the British part of the North Sea and produces 8,000 barrels of oil equivalent per day, the company said.

Emily Moser
Wed, 02/10/2016 - 06:30
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Australia's AGL Energy Posts Loss From Gas Business Write-off

Loss for six months ended Dec. 31 compared with AU$308 million profit a year ago. Underlying earnings rose 24.2% to AU$375 million, broadly in line with analyst expectations, Reuters said.

Erin Pedigo
Tue, 02/09/2016 - 16:40
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Petrogas Will Acquire PA Resources’ North Sea Assets

Sale includes company’s 24% interest in license 12/06 in Denmark, which holds the Broder Tuck and Lille John discoveries, and its exploration licenses in the U.K., Germany and the Netherlands.

Erin Pedigo
Tue, 02/09/2016 - 14:13
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Canadian Companies Sell Assets While Continuing Oil Sands Projects

Husky Energy Inc., MEG Energy Corp. and others are selling assets or slowing light and conventional oil E&P, even while continuing with oil sands projects that are losing money, Reuters said.

Erin Pedigo
Tue, 02/09/2016 - 12:27
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Marketed: Apache's Operated Properties, Delaware Basin

Apache Corp. (NYSE: APA) is offering operated properties in the Delaware Basin.

The properties include six producing wells and are located in Pecos and Reeves counties, Texas.

The Oil & Gas Asset Clearinghouse has been retained by the Houston company as its exclusive technical, marketing and transaction adviser for the sale.

Emily Moser
Tue, 02/09/2016 - 08:09
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Rockdale Diversifies With Service Company Acquisition

Askarri, based in Houston, has been dormant for the last few years, the release said. However, the company is said to have history with major oil companies, providing services to both onshore and offshore oil and gas producers.

Emily Moser
Tue, 02/09/2016 - 07:40

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