Russia’s Novatek will pay diamond mining firm Alrosa some 30.3 billion roubles ($540 million) for the 100% acquisition of two companies, which together own areas estimated to hold resources of 1.08 billion barrels of oil equivalent (BBOE).
AVANGRID announced last week its Avangrid Renewables Holdings unit is selling Enstor Gas, AVANGRID’s gas storage business operator, to Amphora Gas Storage USA, an affiliate of private equity firm ArcLight Capital Partners.
Tidewater Logistics, which provides logistics services to the frac sand sector, said last week it sold a “majority interest” in the company to certain funds managed by affiliates of Apollo Global Management.
Here is an interesting way to approach filing for protection from creditors under the U.S. Bankruptcy Code:
File the usual Chapter 11 paperwork, along with all forms and information related to a Restructuring Support Agreement (RSA) agreed-to by no less than 72% of all creditors.
Global oil and gas deal volume hit a five-year low in 2017, and total global transaction value fell more than 12%, according to just-released data from tax/advisory services firm EY, in its Global Oil and Gas Transaction Review 2017.
Improving industry conditions in all four sectors of the global oil and gas industry in 2017 will carry over into 2018, increasing the likelihood of more and larger mergers and acquisitions, according to tax/advisory services giant EY.
Alabama-based, UK-incorporated Diversified Gas & Oil Plc has signed deals to acquire Alliance Petroleum and the conventional Appalachian assets of CNX Resources for a combined purchase price of $180 million.
Phillips 66 on Tuesday agreed to repurchase 35 million shares of company common stock from a wholly owned subsidiary of Berkshire Hathaway in a $3.3 billion stock repurchase, Kallanish Energy reports.
Australia’s largest independent oil and gas producer, Woodside Petroleum, announced on Wednesday it’s purchasing ExxonMobil’s 50% stake in the Scarborough field, offshore Australia, Kallanish Energy reports.