Tag: acquisition
Red Deer’s Predator Drilling expands into Permian Basin, buys Midland Texas competitor
Assets include six, one thousand horsepower single drilling rigs Predator Drilling LLC, a subsidiary of Predator Drilling Inc. of Red Deer, Alberta, has acquired all assets of J. B. Hunt Gas and Oil Drilling of Midland, Texas in an all equity transaction. The experience and successful business practices of the J. B. Hunt family will […]
France’s Total becomes 2nd largest global LNG company with $1.49 billion acquisition
Total expects LNG market to grow 5% to 6% annually Total has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion, according to a press release. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron […]
Tight inventory of deepwater assets driving prices higher
40% of global shallow-water oil/gas assets located for sale in Europe Reduced spending for oil and gas exploration is limiting availability of quality deepwater assets for merger and acquisition (M&A) deals, according to a new report by IHS Markit. “Low oil prices have significantly reduced operator spending on exploration—particularly in the deepwater, which is very costly,” […]
Alberta-based oilfield services co. Lonestar West sells to American firm Clean Harbors
Lonestar, located in Sylvan Lake, has 160 workers, 12 operating centres throughout Canadian, US markets Alberta vacuum services provider Lonestar West will be sold to multinational oilfield firm Clean Harbors in an all-cash transaction valued at $44.1CDN million, according to a press release. Lonestar says it board of directors unanimously agreed to to the deal, which will see Lonestar shareholders receive $0.72CDN […]
Calgary’s Pembina Pipeline buys Veresen for $9.7 billion, creates $33 billion company
Acquisition expected to close late in 3rd quarter or early in 4th quarter of 2017 Pembina Pipeline Corporation and Veresen Inc. announced they entered into an agreement to create one of the largest energy infrastructure companies in Canada with a pro-forma enterprise value of approximately $33 billion, according to a press release. The cash portion of the […]
Calgary-based Trican Well Service and Canyon Technical Services merging
Combined company will be one of largest public Canadian oilfield services providers Trican Well Service Ltd. and Canyon Services Group Inc. announced in late March they have entered into an arrangement agreement where Trican has agreed to acquire all of the issued and outstanding common shares of Canyon on the basis of 1.70 common shares of […]
Marathon’s $700USD million Delaware ‘bolt-on’ acquisition
Marathon holds almost 600 million boe of risked resource, near 1.5 billion boe of total resource in Permian On March 21, Marathon bought 21,000 net acres in the Delaware Basin for US$700 million from Black Mountain Oil & Gas and other private sellers, according to Wood Mackenzie. The deal comes soon after Marathon entered the […]
Cenovus to double production and reserves in Canada
$17.7 billion acquisition establishes anchor position in two of Canada’s most attractive oil and gas plays Cenovus Energy Inc., one of Canada’s largest producers, has agreed to acquire U.S. oil major ConocoPhillips’ 50 per cent interest in the FCCL Partnership, the companies’ jointly owned oil sands venture operated by Cenovus, according to a press release. Cenovus […]
Total Energy acquires majority of Savanna shares in hostile takeover bid
Total Offer is scheduled to expire at 12:00 PM (Pacific time) on April 7, 2017 Total Energy Services Inc. says that on March 24, 2017 it acquired a majority of the outstanding common shares of Savanna Energy Services Corp., according to a company press release. The process for Total Energy to acquire additional common shares of […]
Pengrowth sells Alberta properties for $180 million
Pengrowth will use the sale to further reduce its level of debt Pengrowth Energy Corporation announced it entered into an agreement for sale of a portion of its Swan Hills assets in North Central Alberta for total cash consideration of $180 million, the company said in a press release. The sale of the Swan Hills assets […]
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