Category: Deals

Dynegy scraps California sales

On Tuesday, the company reported a net loss of $104 million in the fourth quarter of 2014. It had a $91 million loss during the same period a year ago.  More »

Warren Buffett’s firm sells Exxon Mobil shares

Berkshire Hathaway increased its holdings in Suncor Energy and Phillips 66 among other companies.  More »

China considering merging state-owned oil companies

The country’s leaders have asked government economic advisers to study the possible mergers, the Wall Street Journal said, citing unidentified officials familiar with the research.  More »

Saudi-Dow Chemical moving forward on $20 billion plant

Saudi Arabia, the world’s largest crude exporter, started the petrochemical project in 2011 when oil averaged $111 a barrel.  More »

Siemens bid for Dresser-Rand faces in-depth EU investigation

The proposed deal may reduce competition for equipment used by companies active throughout the oil and gas distribution chain, including exploration, storage and refining, the European Commission said in an e-mailed statement today.  More »

C&J Energy drops price for Nabors fracturing unit by $250 million

C&J Energy Services is slashing the price it will pay for Nabors Industries’ hydraulic fracturing unit by $250 million in cash, it said Monday, in a move to cut the debt it will have to take out amid low oil prices.  More »

Lucas Energy seeks merger with West Texas oil company

The two companies said they could make money on the expected $1.1 million in monthly revenue from oil production in the Eagle Ford Shale even if oil prices were at $50 a barrel.  More »

Houston-based LNG start-up announces Louisiana plans

HOUSTON — A start-up focused on developing small-scale liquefied natural gas export facilities says it’s taking a step forward in its plans to develop a Louisiana plant. Live Oak LNG said it will develop the LNG export facility with a capacity of 5 million tonnes per annum. Live Oak is a subsidiary of Parallax Energy, […]  More »

Cash-starved oil producers trade treasured pipelines for money

Bakken shale billionaire Harold Hamm and Canadian gas giant Encana Corp. are among the latest to peddle some of their most valuable assets and steadiest earners.  More »

Oceaneering to buy Louisiana ocean-mapping firm for $230m

The deal to buy Lafayette, Louisiana-based C&C Technologies will give Oceaneering access to technology that can map the ocean and survey marine construction for surface and subsea assets, which would boost utilization of its underwater vehicles.  More »

Government sells scandalized Teapot Dome oilfield for $45 million

Most of the easily accessible oil in the oilfield 35 miles north of Casper already has been tapped out since drilling resumed in the mid-1970s.  More »

Schlumberger to pay $1.7B for stake in Russian energy company

Schlumberger will spend about $1.7 billion for a minority stake in a big Russian energy company at a time when the country’s relations with the West are under strain and as energy prices hit multiyear lows  More »

Dynegy says mega-deals won’t close in first quarter

Dynegy doesn’t expect to close the pair of mega-deals it announced in August until some time after the first quarter of this year, the Houston-based power generator said Monday.  More »

Linn Energy to cut spending in half this year

The cut also comes after it jettisoned assets last year in the Granite Wash, which is in North Texas and Oklahoma, and most of its property in the Midland Basin in West Texas.  More »

Activist investor sells off oil field “man camp” stake

Jana Partners sold 12 million shares in Civeo Corp. on Tuesday after the Houston-based firm said it would have to dramatically cut 2015 spending, shutter some sites and slash its North American workforce. It said it sees far fewer oil workers returning to well sites in 2015 amid sunken crude prices.  More »
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