Category: Deals

CERAWeek: BP CEO says don’t expect wave of energy mergers yet

BP CEO Bob Dudley says he doubts there will be a surge of corporate consolidation in the energy industry – effectively a repeat of the mega deals in late-1990s bust that created mammoth oil firms – unless oil prices stay low for long.  More »

Oil firms may have to cut deeper than $126 billion, report says

If Brent, the international crude standard, hangs around $60 a barrel for much longer, oil producers in the United States and elsewhere in the western world will probably have to make deeper cuts.  More »

Exxon might be next in line for mega deal, analysts say

Exxon Mobil Corp. could be the next big oil firm to pull off a major corporate takeover like Royal Dutch Shell’s $70 billion bid this week for BG Group, Morgan Stanley analysts say.  More »

EnCap raises $6.5 billion to pour into North American oil firms

Private equity firm EnCap Investments has closed its tenth energy fund with $6.5 billion to back North American oil and gas producers, the latest firm to collect billions to pump into the shale business.  More »

Shell deal brings relief to Dutch companies used to being prey

Ten benchmark Dutch stocks, or just under half the 25 spots that make up the Amsterdam Exchanges Index, have been acquired since 2007, when ABN Amro Holding NV was snapped up for $100 billion by a consortium led by Royal Bank of Scotland Plc.  More »

Apache Corp. is exiting Australia with a $2.1 billion asset sale

The assets produced the equivalent of about 49,000 barrels of oil a day in March.  More »

Will an M&A wave follow Shell-BG? Investors hope, dealmakers doubt

Corporate dealmakers and analysts say they doubt it’s a sign that a new wave of oil and gas deals like the spending spree of the late-1990s is just around the corner, especially among financially healthy U.S. oil producers.  More »

The CEO of BG just arrived in February, and could walk with $43 million

Lund, who joined BG on Feb. 9 after heading Norway’s Statoil ASA, is entitled to liquidated damages equal to a year’s gross salary and 30 percent of base pay, the Reading, England-based company’s annual report showed.  More »

Shell’s BG deal adds to North Sea job concern after oil collapse

Shell, employing about 2,400 across the North Sea, targets $2.5 billion of pretax “synergies” a year across the globe from the deal, including staff cuts.  More »

Buying BG will ease Shell’s struggles with scandle-plagued Petrobras

With Petrobras engulfed in Brazil’s largest ever corruption scandal, BG and other partners are struggling to communicate with the state-controlled producer’s management to address delays to development plans.  More »

Shell sets $70 billion deal to buy BG Group

Shell said that bringing the two companies together would produce financial gains of about $2.5 billion a year.  More »

Halliburton to put drilling business units up for sale to clear Baker Hughes merger

The Houston oil field services firm said Tuesday it is putting its fixed cutter bits, roller cone drill bits, directional drilling, logging-while-drilling and measurement-while-drilling businesses on the auction block in separate deals.  More »

Royal Dutch Shell in talks to acquire BG Group

Buying BG would be Shell’s largest acquisition since the $60.3 billion merger of its Dutch and U.K. parent companies in 2005.  More »

Energy secretary calls Iran nuke deal a “forever agreement”

Under the agreement, Energy Secretary Ernest Moniz said all plutonium created as a byproduct of Iran’s nuclear power production would be sent out of the country so it couldn’t be used to make weapons.  More »

Houston-based oil and natural gas developer sells Utica stake for $575 million

EV Energy Partners will sell its 21 percent stake in a system of natural gas gathering and compression facilities in eastern Ohio for $575 million, it announced Monday morning.  More »
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