Pioneer was a potential buyer of a mystery E&P before deciding to sell to Exxon Mobil. Between June 22 and Oct. 10, terms of 2023’s largest U.S. oil and gas merger were debated.
U.S. Energy Corp.’s non-core asset divestitures report no change to the company’s existing $20 million borrowing base.
Energy Capital Partners will acquire EnCap-backed Triple Oak, which develops, acquires and monetizes renewable energy projects.
Expect E&Ps to engage in more strategic consolidation, place more emphasis on carbon markets and attempt to get ahead of the SEC’s guidance on emissions reporting.
Vopak, in a partnership with Transnet Pipelines, was selected to develop and operate an LNG terminal at the Port of Richards Bay in South Africa for 25 years.
Barrel Oil Corp. retained Sayer Energy Advisors for the sale of its oil and natural gas interest located in the Coyote area of Alberta.
Evolution Petroleum entered agreements with three companies to purchase non-op interests in Oklahoma’s SCOOP and STACK plays for $43.5 million, equaling its largest transaction so far.
H&E Equipment Services’ acquisition of Precision Rentals adds approximately $70 million in original equipment to its fleet of construction rental equipment.
Low natural gas prices are driving producers such as Chesapeake and Southwestern to seek large ‘strategic’ deals at a time when large-scale consolidation is coming under increased scrutiny by lawmakers and regulators.
Under a sale and purchase agreement, Shell will purchase 2 million tonnes of LNG per year from the proposed Canadian project.