M & A Archives

Patterson-UTI Energy and NexTier Oilfield Solutions to combine in merger of equals, creating industry leading drilling and completions services provider

June 16, 2023 Mariel Alumit

Comprehensive U.S. Oilfield Services Franchise to Enhance Drilling and Completions Value Creation Potential and Maximize Returns for Shareholders Combined $5.4 Billion Total Enterprise Value Drives Improved Free Cash Flow Generation and Strong Balance Sheet to […]

North Dakota tribe buys idle oil pipeline from Enbridge

June 11, 2023 Mariel Alumit

NEW TOWN, N.D. — A Native American tribe in North Dakota bought an idle pipeline from the energy company Enbridge to help deliver oil from wells on its reservation to the broader market. The Mandan, Hidatsa […]

Shell plans to sell household energy supply arm

June 8, 2023 Mariel Alumit

Oil and gas giant Shell plans to sell its household energy supply businesses in the UK, Germany and the Netherlands, the company announced in a press release on Tuesday. After a five-month review of its […]

Daily Energy Standup Episode #140 – Breaking Barriers: Debt Ceiling Provisions and Energy Fuels Game-Changing LIV and PGA Tour Merger

June 8, 2023 Andy Del Prado

Daily Standup Top Stories Debt Ceiling Permitting Provisions Offer Good First Step to Meaningful Reform June 7, 2023 Mariel Alumit President Biden has signed the Fiscal Responsibility Act (FRA) into law which suspends the debt ceiling […]

Eyeing a Shift to Renewables, Worley Sells Its Refinery …

June 3, 2023 Mariel Alumit

Australia-based engineer-contractor Worley said May 30 it has completed the sale of its North American unit for refinery and petrochemical plant turnaround and maintenance services to Canada-based CAM Industrial Solutions—as it continues a push into […]

Goldman Sachs Prepares For Third Round Of Layoffs As M&A Activity Slumps

May 31, 2023 Mariel Alumit

As macroeconomic headwinds mount, merger and acquisition trends are pressured downward. The Federal Reserve’s ongoing policy of interest rate hikes to combat the highest inflation seen in decades has created less-than-optimal conditions for dealmaking. Consequently, […]

Talos Energy, Grupo Carso accelerate Zama development with $125 million transaction

May 30, 2023 Mariel Alumit

(WO) – Talos Energy Inc. announced that Zamajal, S. A. de C.V., a wholly owned subsidiary of Grupo Carso (“Carso”), has agreed to acquire a 49.9% interest in Talos’ Mexican subsidiary (“Talos Mexico”), which holds […]

ExxonMobil Sells Williston Assets

May 24, 2023 Mariel Alumit

Chord Energy Corp. has entered a deal to acquire hydrocarbon development areas in the Williston Basin owned by ExxonMobil Corp. for $375 million. The definitive agreement with XTO Energy Inc. and affiliates, which are ExxonMobil […]

Daily Energy Standup Episode #129 – The Fossil Fuel Tug of War: Ghost Tankers Delivering Billion-Dollar Oil to Syria, while Climate Reparations Remain Unpaid and Exxon Crushes Net Zero Dreams

May 23, 2023 Andy Del Prado

Daily Standup Top Stories 17 Iranian ‘Ghost Tankers’ Bring Oil Worth $1 Billion to Syria May 22, 2023 Mariel Alumit At least 17 shipments by eight different tankers have delivered more than 16 million barrels of […]

Chevron to boost U.S. presence with $7.6 billion PDC Energy buy

May 22, 2023 Mariel Alumit

May 22 (Reuters) – Chevron Corp (CVX.N) said on Monday it is increasing its U.S. oil and gas footprint by acquiring shale producer PDC Energy Inc (PDCE.O) in a stock-and-debt transaction worth $7.6 billion. For Chevron, the second-largest U.S. […]