Industry News


Sunoco Completes Acquisition Of Susser Holdings

SUN paid $966.9 million in cash and issued ETP's subsidiaries about 21.98 million units valued at about $966.9 million. SHC will be owned by SUN's indirect wholly owned subsidiary. 

Fri, 07/31/2015 - 14:55

Enbridge Considers Natural Gas, Power Generation M&A

Enbridge Inc. is considering natural gas and power generation acquisitions to help boost the diversity of its asset base, the company's CEO said July 31, Reuters said.

Fri, 07/31/2015 - 11:57

Canamax, Powder Mountain Close Business Combination

Total consideration price was CA$27.6 million. This was based on Powder’s CA$21.7 million estimated working capital surplus and the CA$5.9 million attributed value of Powder’s existing lands, production and reserves.

Fri, 07/31/2015 - 10:50

Texoz Offers Olmos Oil Assets In McMullen County, Texas

Texoz E&P 1 Inc. is selling certain operated assets in the Olmos Oil Project in McMullen County, Texas.

The properties are located in the northwest flank of the AWP Olmos Field, which is more than 100 square miles in area.

The Oil & Gas Asset Clearinghouse is the exclusive technical, marketing and transaction adviser for Texoz, a U.S. subsidiary of Australia's Talon Petroleum Ltd.

The AWP Field was discovered in the early 1980s and later opened up after fracking technology made the tight Olmos sand formation economical, according to Swift Energy Co. (SFY).

Fri, 07/31/2015 - 10:23

Eos Engages Deloitte Corporate Finance For Acquisitions

Eos Petro Inc. engaged Deloitte Corporate Finance LLC to advise its efforts to pursue acquisitions and raise additional capital.

Eos’ current, active properties are in the Illinois Basin.

Thu, 07/30/2015 - 16:42

Follow-on Investment Will Help First River Acquire Texas Gathering

Texas Gathering gathers, markets and blends about 23,000 barrels per day of crude oil, primarily in the West Texas Permian Basin and Eagle Ford Shale.

Thu, 07/30/2015 - 15:27

FBR Will Acquire MLV

Transaction is scheduled to close in 2015’s third quarter, subject to closing conditions and regulatory approval. Wachtell, Lipton, Rosen & Katz was FBR’s legal adviser. LeClairRyan was MLV’s legal adviser.

Thu, 07/30/2015 - 10:08

HEP Subsidiary Acquires Interest In GT Omniport Terminal

Maverick Terminals LLC acquired majority interest in GT Omniport Terminal from GT Logistics LLC. GT Omniport currently handles crude oil, but will be expanded to handle refined products and NGL.

Wed, 07/29/2015 - 14:49

Anadarko Not Selling Mozambique LNG Stake

Anadarko Petroleum Corp. has no interest in selling down its stake in planned LNG project in Mozambique, CEO Al Walker said, Reuters reported. Anadarko wants to operate the multibillion-dollar project.

Wed, 07/29/2015 - 11:34

Chevron Looks To Sell Permian Holdings

Chevron Corp. (CVX) is offering packages in Reagan and Cochran counties, Texas, that include producing oil and gas wells.

In Cochran County, Chevron Midcontinent LP is set to divest its interests in the Permian Basin’s Masten Unit, said EnergyNet, which is handling the divestments. Chevron is auctioning operations and HBP leasehold consisting of about 3,193.50 gross acres.

In Reagan County, Chevron U.S.A. Inc. and Chevron Midcontinent are conducting a sealed bid offering for its operations, HBP leasehold and overriding royalty interests.

Tue, 07/28/2015 - 09:59

India’s Reliance Considers Selling US Shale Gas Assets

Indian oil refinery complex operator Reliance invested more than $8 billion in its U.S. unconventional gas joint ventures through March, Bloomberg reported. It is considering sale in private matter.

Tue, 07/28/2015 - 09:29

BP Acquisition Unlikely After $18.7 Billion GoM Settlement

BP CEO Bob Dudley said company is less likely to be acquired, “and it is certainly not our intention” to sell, after $18.7 billion Gulf of Mexico settlement, Reuters reported.

Tue, 07/28/2015 - 08:45