Acquisitions & Divestitures


Oil & Gas Asset Clearinghouse Auctions Off Most Lots

After months in a timid A&D market, interest may be starting to return at oil and gas auction houses.

The Oil & Gas Asset Clearinghouse said May 21 that it had sold the vast majority of 66 lots offered. So far sales have rung up roughly $24 million.

Clearinghouse marketed about 1,400 distinct oil and natural gas properties at the May auction. Another is planned for July, an indicator that the market for properties is returning, Clearinghouse said.

Darren Barbee
Thu, 05/21/2015 - 14:35

Gale Force Will Sell 80% Of Pine Mills Property

The Pine Mills property is in Wood County, Texas. The transaction is scheduled to close in June. Gale Force had a 99% working interest in the property. 

Thu, 05/21/2015 - 11:14

Petroshare Corp. Closes Wattenberg Acreage Acquisition

The acreage is in parts of Township 1 South, Range 67 West in Adams County, Colo. Acquisition was made through strategic land and leasing services agreement with Kingdom Resources LLC.

Thu, 05/21/2015 - 10:59

Oil M&A Activity Might Rise In 2016

The Permian Basin is prime for M&A interest. There could be consolidation in the Eagle Ford as producers try to drive efficiencies and lower costs, a Citigroup executive told Bloomberg. 

Wed, 05/20/2015 - 11:55

Pavilion Energy Offers British Columbia, Alberta Acreage

Pavilion Energy Corp. has prospective acreage in identified drilling locations in the Paradise/Rigel area of British Columbia and the Darwin area of Alberta. Proposals will be accepted until June 11.

Tue, 05/19/2015 - 12:36

Working Interest, Operations In Nine Texas Panhandle Wells For Sale

An undisclosed seller wants to divest its operated and nonoperated working interest in nine wells located in the Texas Panhandle as well as leasehold acreage, according to retained EnergyNet, which has been retained to handle the transaction.

The interests are being sold in a sealed bid offering.

Darren Barbee
Tue, 05/19/2015 - 09:00

Geodynamics Acquires Connor Oil Tools

Saginaw, Texas-based Connor Oil Tools manufactures well intervention products, and they will join the product range of  Legacy Oil Tools, said David Wesson, Geodynamics’ president and CEO. 

Mon, 05/18/2015 - 15:55

Investors Purchased Pioneer Natural Resources Stakes

Investor Seth Klarman’s Baupost Group bought $517.8 million worth of shares in Pioneer Natural Resources Co., Bloomberg said. Investor Stan Druckenmiller’s Duquesne Family Office took a $36.7 million stake.

Mon, 05/18/2015 - 11:39

Nostra Terra Acquires San Miguel Prospect Acreage

London-based Nostra Terra said May 18 it acquired 1% working interest in the San Miguel Prospect in South Texas.  The 35,000-acre acquisition, and the 20,000-acre Don Pedro Prospect acquisition April 27, have similar characteristics.  

Mon, 05/18/2015 - 10:36

T-Rex Oil Enters Williston Basin Acreage LOI

T-Rex Oil Inc. will pay $7 million for 36 leases are on undeveloped acreage in Daniels County, Mont., with access to the Bakken, Madison, Three Forks and Red River formations. 

Fri, 05/15/2015 - 14:39

Trio Petroleum Offers Interest In California Oil Field

The field is operated by Eagle Petroleum LLC and has continued to increase production since 2005, according to PLS Inc., which has been retained to handle the sale.

Emily Moser
Fri, 05/15/2015 - 10:12

Arc Logistics Partners Completes Joliet Bulk Acquisition

Commercially operable Joliet Terminal can unload about 85,000 barrels per day of crude oil. There are about 300,000 barrels of onsite storage, and connections to common carrier crude oil pipeline. 

Fri, 05/15/2015 - 08:29