Category: Deals

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 »

Pacific Ethanol buys rival Aventine in $190 million stock deal

The deal announced Wednesday provides new scale for the California company which dominates markets in the West as it picks up Aventine’s infrastructure and networks in the Midwest and East.  More »

Southwestern’s CEO confident in natural gas

Despite sliding natural gas prices, Southwestern Energy chief executive Steven Mueller is confident in the direction of his Houston-based business.  More »

Southwestern Energy to buy more Marcellus, Utica acreage

Southwestern Energy Co. said Tuesday it is planning to snap up Statoil’s 20-percent stake in oil and gas assets in West Virginia and southwest Pennsylvania for $394 million, just a day after closing its biggest-ever deal with Chesapeake Energy in the region.  More »

Halliburton, Baker Hughes overcame $3.3 billion divide to reach deal

During the month-long bout of haggling between the two companies, Halliburton CEO Dave Lesar said a counter offer proposed by Baker Hughes “shocked me and is clearly one that we cannot accept.”  More »

Rosneft’s acquisition of Morgan Stanley oil unit scuttled

The deal received U.S. antitrust approval in June, but Rosneft said Monday that regulator objections held up the deal.  More »

Court OKs $2.86 billion merger between C&J, Nabors unit

C&J Energy’s shareholders shouldn’t have been barred by a judge from voting on whether to approve the deal with Houston- based Nabors, the Delaware Supreme Court ruled today.  More »

The calm before an M&A storm

Upstream oil and gas companies are waiting out volatility in the commodities markets right now, but many are expected be on the hunt for acquisitions after the dust in the crude market settles, according to an analysis by energy consulting firm Wood Mackenzie.  More »

Halliburton CEO: Weak market will spur more job cuts

Dave Lesar’s statement comes a week after Halliburton said it would immediately laying off 1,000 employees across multiple regions in the Eastern Hemisphere.  More »

Repsol agrees to buy Canada’s Talisman for $8.3 billion

Repsol has been seeking to spend about $10 billion on takeovers since receiving compensation in May from Argentina for the 2012 nationalization of YPF SA.  More »

Producers, oil-tool firms hold off on IPOs as crude plunges

Wall Street investors have had a hard time putting a stock-market value on these companies because crude prices are still wobbling daily.  More »

Apache will sell LNG stakes in Australia, Canada for $2.75 billon

Apache Corp. will sell its stakes in liquefied natural gas projects in Australia and Canada for $2.75 billion, marking one of its most significant steps yet toward paring back its portfolio to focus on North American activity.  More »
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