Novatek wins bid for Alrosa’s gas assets

February 20, 2018 0

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).

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AVANGRID selling gas storage business

February 20, 2018 0

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.

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Fieldstone files for Chapter 11, announces nearly $1B buy

February 19, 2018 0

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.

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O&G M&A deal volume, value dropped in 2017: EY

February 16, 2018 0

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.

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M&A activity in O&G should increase in 2018: EY

February 16, 2018 0

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.

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Phillips 66, Berkshire in $3.3B stock buyback

February 15, 2018 0

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.

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