Home / Tag Archives: Mergers and Acquisitions

Tag Archives: Mergers and Acquisitions

Exxon Mobil joins Permian land rush

oil derrick

Exxon Mobil announced Tuesday it will sell $5.6 billion in stock to acquire companies that control prime areas of oil and gas real estate in the Permian Basin. The company estimates that 60 billion barrels of oil reside under the land included in the oil and gas interests soon acquired from Fort Worth’s Bass family. About 3.4 billion barrels is ...

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Pipeline operator Enbridge to buy Spectra Energy for $28B

Enbridge oil

NEW YORK (AP) — Canada’s Enbridge is buying Houston-based Spectra Energy for about $28 billion, creating North America’s largest energy infrastructure company. Both companies operate pipelines that deliver oil and natural gas. Under the terms of the deal announced Tuesday, Spectra Energy shareholders will receive 0.984 a share of the combined company, or about $40.33 for each Spectra Energy share ...

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Shell-BG deal may be end point rather than harbinger: Russell

(Clyde Russell is a Reuters columnist. The views expressed are his own.) KUALA LUMPUR – There is a widespread assumption that weak commodity prices are likely to spark a wave of merger and acquisition activity as stronger companies seek to buy assets on the cheap. The $70 billion buyout of BG Plc by larger rival Royal Dutch Shell is generally ...

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Chesapeake Energy: More land, more drilling means being better than the rest

While already being the top dog in eastern Ohio’s Utica Shale play, Chesapeake Energy wants to take on more land and prove it can drill more efficiently than other operators in the region. Today, while executives went over the company’s first-quarter earnings, talk about Chesapeake’s efficiency, especially in Ohio, became the main topic of discussion.  As reported by the Columbus ...

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Oil prices don’t dictate the value of oilfield service companies

Although oil and gas companies might be operating according to the whims of fluctuating prices, the value of oilfield service companies aren’t necessarily bound by oil prices. The recent and dramatic drop in the price of oil, which fell from $100 per barrel in August to around $80 in October, has many oil and gas service companies wondering if they ...

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American Energy obtains 63,000 acres in the Permian Basin

Zachary Toliver | Shale Plays Media More money, mergers and acquisitions are happening in the Permian Basin this week. Penn energy reports: American Energy – Permian Basin, LLC (AEPB) announced it has invested $2.5 billion to acquire about 63,000 acres of leasehold located in the southern region of the Permian Basin. The land is predominantly located in the Reagan, Irion ...

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Austin firms see opportunity in North Dakota’s flaring gas

Bakken Oil Well Flare

Dan Zehr | The Austin American-Statesman, Texas Back in 2008, in the early days of the drilling boom that has transformed the Bakken Shale of North Dakota, Lance Langford found it hard to believe that transporting oil out of the field would remain so expensive. Industry analysts and other oil producers said it would cost $35 a barrel to transfer oil ...

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GE dices $17B deal

By Larry Rulison for the Albany Times Union SCHENECTADY — General Electric Co. has restructured its $17 billion deal with French energy and transportation conglomerate Alstom SA into a series of joint ventures. The action is designed to address concerns the French government had that the acquisition would jeopardize national security and lead to the demise of one of the ...

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Company investing $6M at port; plan will bring 25 jobs for oil-handling terminal

The Natchez Democrat (Natchez, Miss.) NATCHEZ — A Houston-based oil company announced plans Monday to use the Natchez-Adams County Port to ship oil from nearby wells, an operation that could mean a $6 million investment and 25 jobs. As part of an operational update of wells in Wilkinson County, Halcon Resources announced its midstream subsidiary, Halcon Field Services, has acquired ...

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