Chris
Mathews
Hart Energy
Chevron, in Hess Holding Pattern, Sells $6.8B in Alaska, Canada
Chevron Corp., waiting to close a $55 billion takeover of Hess Corp., is selling off non-core assets in Canada and Alaska.
Tourmaline Brings on Crew Energy with Close of $950MM Deal
Tourmaline Oil is adding about 30,000 boe/d of Montney Shale production with its acquisition of Crew Energy.
No Rush: Post-M&A Frenzy, Divestiture Market to Pick Up by 2025
Lenders with a variety of capital structures are poised to fund the upcoming portfolio rationalization in the post-consolidation era, bankers and deal advisers said at Hart Energy’s Energy Capital Conference.
McDermott to Sell Storage Business to Mason Capital-led Consortium
Roughly seven years after McDermott International acquired CB&I for $6 billion, the storage solutions business is being sold to a consortium led by Mason Capital Management.
Equinor Acquires Nearly 10% Stake in Ørsted for $2.5B
Equinor becomes the second largest stakeholder in Ørsted with its $2.5 billion acquisition of the Danish company’s shares.
TotalEnergies, RWE Partner on German North Sea Wind Projects
TotalEnergies and RWE aim to commission two wind projects, N-9.1 and N-9.2, in 2031 and 2032.
Chevron Sells Canadian Oil Sands, Duvernay Shale Assets for $6.5B
Chevron said the divestitures are part of its plans to sell $10 billion to $15 billion worth of assets by 2028 following the company’s acquisition of Hess Corp. for $53 billion.
Martin Resources Steps Up Offer for Martin Midstream
Martin Resources Management will pay $132 for Martin Midstream, which it had previously spun off, after a pair of New York capital groups counteroffered at a higher price.
Private Equity Gears Up for Big Opportunities
The private equity sector is having a moment in the upstream space.
Venezuela Lost Citgo, But the Battle’s Not Over Yet
Amber Energy’s $7.3 billion purchase of Citgo fell well short of analyst’s valuations. PDVSA Ad Hoc expects to appeal the decision soon in its battle to protect its claim on Citgo.