Judge refuses to block Freeport-Plains deal
Plains shareholders are set to vote on the deal May 20. More »
BLM postpones oil, gas lease auctions in Calif.
Federal land managers have cited the toll of environmental litigation — as well as budget problems and low staffing — in postponing all oil and gas lease auctions in California until October. More »
Inergy to buy gas processor Crestwood for $1.25 billion
Inergy Midstream LP, the pipeline partnership that began trading publicly 18 months ago, agreed to buy Crestwood Midstream Partners LP for $1.25 billion in stock and cash, adding natural gas processing capabilities as it seeks to capitalize on rising U.S. output of the fuel. More »
Tesoro expects to close soon on California plant
Greg Goff, CEO of Tesoro Corp., said Thursday that the company expects to close on its $2.5 billion acquisition of BP PLC’s refinery in Carson, Calif., by the end of the second quarter. More »
Freeport-McMoRan’s $6.9 billion Plains bid called inadequate
Freeport-McMoRan Copper & Gold Inc.’s $6.9 billion bid for Plains Exploration & Production Co. is inadequate and should be blocked, an investor’s lawyer told a Delaware judge, who delayed a decision. More »
BP reports wider quarterly profit on TNK-BP sale
British oil giant BP reported Tuesday its first-quarter profit nearly tripled as it recorded a big gain from the sale of its 50 percent stake in Russian joint venture TNK-BP to Rosneft. But the company’s gulf oil spill liabilities remain uncertain. More »
After big fourth quarter, energy deals decline
Energy industry mergers valued at more than $50 million dropped in the first three months of the year compared to the frenzied fourth quarter, but rose over the first quarter of 2012. More »
Energy Future issues opening salvo as KKR, TPG seek stake
Energy Future Holdings Corp.’s pre- packaged bankruptcy proposal is the opening salvo in talks as KKR & Co. and TPG Capital LP, backers of the largest leveraged buyout, seek to salvage their failed utility takeover and force creditors to accept billions in losses. More »
Deals vaults Houston company into top 10 advising on energy
Simmons & Co., the Houston advisory boutique founded in 1974, has slipped into the spotlight with roles on two of the biggest oil and industrial deals this year. More »
Shell, Gazprom to develop Arctic oil fields
Russian Energy Minister Sergei Donskoy was quoted by national media as saying Monday that the companies will develop the Severo-Vrangelevsky field in the Chukchi Sea and the Severo-Zapadny field in the Pechora Sea. More »
GE expands oil business with $3B Lufkin Industries buy
General Electric Co. will buy the oilfield equipment maker Lufkin Industries, Inc. for about $3 billion, furthering an effort by GE to grow its oil and gas operations. More »
Quicksilver selling stake in Barnett Shale assets
Natural gas producer Quicksilver Resources Inc. is selling a 25 percent stake in its Barnett Shale oil and gas assets to a subsidiary of Tokyo Gas Co. for $485 million. More »
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