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ConocoPhillips to acquire US shale producer Concho Resources for $9.7bn

ConocoPhillips to acquire US shale producer Concho Resources for $9.7bn

ConocoPhillips acquisition of Concho Resources : US oil and gas giant ConocoPhillips has agreed to acquire Concho Resources, an unconventional shale producer in the Permian Basin, in an all-stock deal worth $9.7 billion. The deal is set to combine a couple of high-quality industry leaders to create a company with an enterprise value of nearly […]

Seadrill Partners bags $24m contract for West Vela drilling ship from BP

Seadrill Partners bags $24m contract for West Vela drilling ship from BP

Seadrill Partners said that it has bagged additional work from oil and gas giant BP for the West Vela drilling ship in the US Gulf of Mexico. According to the British drilling rig operator, the contract value for the firm part is likely to be $23.8 million. The contract is likely to run until early […]

Superior Plus acquires California-based Central Coast Propane

Superior Plus acquires California-based Central Coast Propane

Superior Plus, a US-based energy products distributor, said that one of its fully-owned subsidiaries has acquired Central Coast Propane, a retail propane distributor in Southern California. The financial terms of the deal were not revealed by the parties. Based in Paso Robles, Central Coast Propane has been operating since 1992. The independent retail propane distributor […]

Wellspring Capital Management acquires Cadence Petroleum

Wellspring Capital Management acquires Cadence Petroleum

Wellspring Capital Management has acquired Cadence Petroleum Group, a distributor of lubricant and fuel products across the eastern and central US. The acquisition has been carried out by the New York-based private equity firm alongside the management of Cadence Petroleum Group. Financial terms of the deal were not revealed. Tyson Pugh – Cadence Petroleum Group […]

Hess to sell Shenzi Field stake to BHP Billiton for $505m

Hess to sell Shenzi Field stake to BHP Billiton for $505m

Hess Corporation has signed an agreement to sell its 28% stake in the Shenzi Field located in the deep-water Gulf of Mexico to the field’s operator BHP Billiton for $505 million. The deal will see BHP Billiton increase its stake in the oil and gas field from 44% to 72%. The only other stakeholder in […]

Noble Energy’s shareholders approve $5bn merger with Chevron

Noble Energy’s shareholders approve $5bn merger with Chevron

Noble Energy said that its shareholders have approved the company’s pending all-stock merger worth $5 billion with rival US oil and gas company Chevron. The company’s shareholders also approved other proposals pertaining to the merger at its special meeting of shareholders. Noble Energy and Chevron expect to wrap up their merger early in Q4 2020. […]

Devon Energy to acquire rival oil and gas firm WPX Energy for $2.5bn

Devon Energy to acquire rival oil and gas firm WPX Energy for $2.5bn

Devon Energy has agreed to acquire rival Oklahoma-based oil and gas company WPX Energy in an all-stock deal worth $2.56 billion. The merger of the companies is expected to create a major unconventional oil producer in the US with a combined enterprise value of around $12 billion. The asset base of the enlarged oil and […]

Devon Energy, WPX Energy reportedly exploring potential merger

Devon Energy, WPX Energy reportedly exploring potential merger

Devon Energy, an Oklahoma-based onshore oil and gas producer, is in discussions to acquire WPX Energy in an all-stock deal to create a company worth about $6 billion, reported Reuters citing people familiar with the matter. Reuters reported that the transaction values WPX Energy at a small premium compared to its current share price of […]

Weatherford, Safe Influx partner to offer new well integrity solution

Weatherford, Safe Influx partner to offer new well integrity solution

Oilfield service company Weatherford International has joined forces with Scotland-based automated well control technology provider Safe Influx with an aim to revolutionising well integrity during the construction sage. In this regard, the companies have signed a memorandum of understanding (MoU). Under the MoU, Weatherford and Safe Influx will cooperate across the world to launch the […]

Max Midstream acquires Seahawk Pipeline and Terminal, announces new pipeline to Texas Gulf Coast

Max Midstream acquires Seahawk Pipeline and Terminal, announces new pipeline to Texas Gulf Coast

Max Midstream said that it has acquired the Seahawk Pipeline and Terminal from Oaktree Capital at the Port of Calhoun in Texas and plans to build a pipeline with an investment of $1 billion that will directly connect the port to both the Eagle Ford and Permian Basins. According to the Texas-based midstream company, the […]

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