Category: Deals

Hess to sell $1 billion in assets to Thai oil company

PTT Exploration & Production Pcl, Thailand’s biggest publicly listed oil and natural gas explorer, agreed to pay about $1 billion cash for Hess Corp. (HES)’s stakes in oil and gas assets in Thailand.  More »

BP selling stakes in Alaska’s North Slope to Houston company

BP is selling off stakes in four Alaskan oil fields near the gigantic Prudhoe Bay, a move that would cut about 15 percent of its crude production in the state, the company said late Tuesday.  More »

Baker Hughes forms subsea production unit with Aker Solutions

Baker Hughes and Norwegian subsea firm Aker Solutions will collaborate to develop technology for ramping up oil production and prolonging the lifespan of deep-water fields, the companies said Tuesday.  More »

Shale pioneer McClendon hires Chesapeake in Utica

Aubrey McClendon, the pioneering shale wildcatter who helped usher in the U.S. energy renaissance, has hired the company that fired him to drill wells for his newest natural gas venture.  More »

Calpine selling southeastern power plants for $1.6B

Houston power generator Calpine Corp. is selling power plants in the southeastern United States for $1.57 billion, a move is says could help focus its efforts in wholesale power markets in Texas, California and elsewhere, the company said Friday.  More »

BP puts Texas Panhandle assets on market

BP is taking bids on its rights to about 280,000 gross acres of natural gas-rich properties in the Texas Panhandle, a spokesman said late Tuesday.  More »

Houston oil field biotechnology firm to go public

Glori Energy wants to combine an influx of public capital and biotechnology to revamp old, nearly infertile U.S. sandstone reservoirs in a bid to free up some 8 billion barrels of stranded oil it has targeted.  More »

Beaumont LNG provider to buy Encana natural gas assets

Stabilis Energy, a Beaumont liquefied natural gas distributor that is building plants in South Texas, said Monday it plans to snap up U.S. storage, regasification and mobile fuel units from Canadian oil producer Encana Corp. for an undisclosed price.  More »

Chevron inks $1.6B joint venture for shale in Argentina

Chevron will spend more than $1.6 billion to develop shale resources in Argentina with state-owned oil company YPF S.A., as the South American country leaps past China to become the most active foreign shale-well driller this year.  More »

Panel: Private equity nearly saturated in upstream market

Private equity firms will continue to throw capital at U.S. independent producers despite tell-tale signs that the number of high-quality investment opportunities is shrinking, a panel of private equity investors said Wednesday.  More »

Panel: Independent producers’ shale-fueled growth is nearing plateau

Major integrated oil companies won’t be able to afford big corporate acquisitions in North America until smaller independent producers start trading at much lower prices on the stock market, a panel of experts said Wednesday.  More »

Baker Hughes acquires Houston reservoir-software firm

Baker Hughes is planning to buy a Houston-based software company in a deal that would add to its digital tools designed to enhance the performance of oil and gas reservoirs.  More »
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