Chris
Mathews
Hart Energy
Analysis: Will $2.7B Tokyo Gas-Rockcliff Deal Reopen Natgas M&A?
The Lower 48 has seen a whirlwind of oil and gas M&A this year, including a historic volume of transactions across the Permian Basin. After Tokyo Gas Co.’s $2.7 billion bid to acquire Haynesville E&P Rockcliff Energy II, could the window for natural gas deals be reopening?
E&P Highlights: Dec. 18, 2023
Here’s a roundup of the latest E&P headlines, including approval of an amended development plan for the Hebron Field and new decommissioning rules.
BlueFire Equipment Buys Texas Screaming Eagle Energy Assets
BlueFire Equipment Corp. is acquiring Screaming Eagle Energy, an oil and gas company focused on M&A in Texas.
Analysts: Will Occidental Sell in GoM, Rockies After $12B Permian Deal?
As Occidental spends $12 billion to add scale in the Midland Basin, analysts wonder if the E&P will divest assets in the Gulf of Mexico, the Rockies or other parts of its portfolio.
Japan's Nippon Steel to Acquire U.S. Steel for $14.9B
Japan's Nippon Steel is buying U.S. Steel for $14.9 billion in cash, prevailing in an auction for the 122-year-old iconic steelmaker over rivals, including Cleveland-Cliffs and ArcelorMittal.
Analysts: Permian Basin Rigs Plummeted on Record Upstream M&A
A land grab for top-quality drilling locations fueled record Permian Basin M&A activity in 2023. To preserve inventory, E&Ps are radically slashing drilling activity on their new assets, East Daley Analytics reports.
Tokyo Gas to Buy Rockcliff Energy’s Haynesville Assets for $2.7B
Tokyo Gas said acquiring Rockcliff would jumpstart its U.S. production volumes from approximately 330 MMcf/d to 1,300 MMcf/d.
Unit Corp. Divests Texas Panhandle Assets for $50 Million
Oklahoma-based Unit Corp. sold non-core oil and gas assets in the Texas Panhandle for cash proceeds of $50 million.
Delaware Basin E&P Battalion Oil Acquired for $450 Million
After a liquidity crunch and an exploration of strategic alternatives, Delaware Basin E&P Battalion Oil is being scooped up by a private player in a $450 million deal.
It’s Final: Only 3 Oil, Gas Lease Sales Set for GoM in New Program
The Biden administration’s new five-year plan phases down oil and gas leasing in the Gulf of Mexico.