Tagged Mergers and Acquisitions

PwC Report: Oil & Gas M&A in 1Q17 Saw “Stunning” 160% Increase

According to one of the top accounting/consulting firms in the world, PricewaterhouseCoopers (PwC), mergers & acquisitions (M&A) activity in the oil and gas sector in the U.S. set a new record high in 1Q17 for the first quarter of any year–$73.04 billion in deals. The report, titled “US Oil & Gas Deals insights first quarter…

Kalnin Ventures LLC acquires Marcellus shale assets

Kalnin Ventures LLC acquired 177 wells operated by seven separate companies for $16 million.The post Kalnin Ventures LLC acquires Marcellus shale assets appeared first on Shale Gas Reporter. Link to full article: Kalnin Ventures LLC acquires Marcellus shale assets Source: Shale Gas Reporter

Famine-Hit South Sudan Buys Arms With Oil Money, UN Report Says

The government of war-torn famine-stricken South Sudan is using at least half of its revenues from oil sales to acquire weapons, despite the dramatic political, economic and humanitarian crises in the country, Reuters says, quoting a confidential report by the panel of UN monitors it has seen. According to the UN sanctions monitors, 97 percent of the total known revenues of South Sudan come from oil sales – many of which are now forward sales – and at least half of that revenue, and “likely substantially more”, is going…

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Ineos buys Engie’s UK onshore shale acreage

Image courtesy of IneosIneos Shale, part of the Ineos Group, has completed the acquisition of the entire UK onshore petroleum exploration and development license interests of Engie E&P UK.
The acquisition increases Ineos acreage under license to more than 1.2 million acres, the company said in a statement.
The transaction involves minority interests in 15 licenses, seven of which Ineos holds an existing interest in.
The remaining eight complement the company’s existing license interests in Yorkshire, Cheshire and the East Midlands. Three of the licenses are operated by INEOS, eight by IGas Energy and four by Cuadrilla.

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Vitol, Hascol, form LNG joint venture in Pakistan

Illustration purposes only (Image courtesy of Vitol)Pakistan’s distributor of petroleum products, Hascol Petroleum has set up a separate company to explore the business opportunities in the LNG sector.
According to a company’s filing to the Pakistan stock exchange, the newly formed company will be named VAS LNG to undertake activities relating to LNG business.
Hascol Petroleum will hold a 30 percent shareholding in VAS LNG with Vitol, an energy, and commodities trader, holding a 70 percent.
In April last year, Vitol Dubai, part of the Vitol Group has completed the acquisition of 15 percent shares in Hascol for $28 million, with the

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Wood Group in $2.7 bln Amec Foster Wheeler takeover

Image courtesy of Wood GroupAberdeen-based LNG engineer Wood Group agreed to acquire its compatriot Amec Foster Wheeler in an all-share offer valued at £2.2 billion (Approx: US$2.7 billion).
Under the terms of the agreement, each Amec Foster Wheeler Shareholder will receive 0.75 Wood Group shares for each AFW share.
According to a joint statement by the two companies, the combination will result in Amec Foster Wheeler shareholders owning approximately 44 percent of the share capital of the combined group.
Speaking of the deal, Ian Marchant, the chairman of Wood Group said, it will create a “global leader in project, engineering and technical services

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Shell shelves Prince Rupert LNG project in British Columbia

Prince Rupert LNG proposed project site (Image courtesy of Shell)The Hague-based LNG giant Shell said on Friday it is ending development of the proposed Prince Rupert liquefied natural gas export project in Canada’s British Columbia.
BG International Limited, a member of the Shell Group, confirmed in a statement that the company would discontinue development of the proposed LNG project, located on Ridley Island at the Port of Prince Rupert.
Acquired as part of the Shell and BG Group combination in 2016, the Prince Rupert LNG project has been part of a global portfolio review of combined assets, which resulted in the decision

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Tipping The Balance: The $50 Sweet Spot

This week, an update on an investment I recommended last year in late May – Silver Run Acquisitions Corporation, then the SPAC of ex-CEO of EOG Resources, Mark Papa. That SPAC morphed into an 89 percent controlling investment in Centennial Resources (CDEV), with Mark Papa taking the helm at the Permian shale company. So far, the initial investment has paid us very, very well indeed, as the initial investment of shares has converted into a near doubling – from the original $10 rollout of the SPAC to the current share price in Centennial…

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