Caliber Midstream Holdings said Tuesday it’s acquired Bakken assets in North Dakota from American Midstream Partners for an undisclosed price, Kallanish Energy reports. The purchase expands Caliber’s crude oil gathering and transportation service lines and widens Caliber’s area of operations within McKenzie County, North Dakota. The acquired assets include a Federal Energy Regulatory Commission-regulated crude
Read More...It wasn’t hard to figure out the backers of the two sides in the proxy battle between independent producer EQT and dissidents known as the Rice Team Wednesday morning, at the long-awaited annual meeting. Kallanish Energy was on hand for the meeting. Body language and facial expressions for status quo EQT, represented by CEO Rob
Read More...Just as EQT Corp. is at odds with remnants of Rice Energy, which it acquired in 2017 and became the U.S.’s largest natural gas producer, independent proxy advisory services firms have now come out on opposite sides of the ongoing proxy battle. Glass Lewis & Co. said in a report Friday EQT, under its current management
Read More...A pair of independent producers, Chisholm Oil and Gas of Oklahoma, and Gastar Exploration of Houston, which exited Chapter 11 just five months ago, announced Wednesday they’re merging, Kallanish Energy reports. No pricetag was placed on the deal. The combined company, which will operate under the name Chisholm Oil and Gas and be headquartered in Oklahoma,
Read More...Two oilfield service (OFS) companies, C&J Energy Services and Keane Group, have announced a “merger of equals” in which the two will combine into one with using an all-stock merger. Both C&J and Keane have operations in the Marcellus/Utica region. Both companies previously merged with or bought out other companies. This certainly seems to be
Read More...Brazilian multinational corporation Petrobras Monday launched the sale of two sets of onshore concessions, Kallanish Energy learns. The concessions are located in the northeastern state of Bahia, where Petrobras is operator and fully owns all but two concessions. The deadline for applications is Jun. 24. The Recôncavo Cluster is comprised of 14 onshore fields, which last year
Read More...Billionaire activist investor Carl Icahn last week filed a lawsuit against Occidental Petroleum, looking for board seats and eventually a sale of the company, Kallanish Energy learns. Icahn said in the lawsuit filed in Delaware Chancery Court he’s built a $1.6 billion stake in Houston-based Occidental, and is upset by its decision to acquire Anadarko
Read More...U.S. oil and gas independent Devon Energy said this morning it’s selling its Canadian assets to Canadian Natural Resources Ltd. for C$3.8 billion ($2.81 billion) in cash, Kallanish Energy reports. Devon is one of several oil producers to invest in the Anadarko Bain’s Scoop and Stack plays in Oklahoma, which is seen by some industry players
Read More...Toby Z. Rice and Derek A. Rice, EQT shareholders trying to wrest control from the executives and board of the U.S.’s largest natural gas producer, said last week they’re reducing the size of their slate of nominees for the EQT board to seven from nine, Kallanish Energy reports. The change was motivated by EQT’s announcement
Read More...EQT Corp. is not a Mom-and-Pop natural gas producer – and can’t be run like one – the board’s independent members said, in effect, to dissident shareholders looking to insert their board nominees into the operations of the U.S.’s largest gas producer. “The Board should not be a friends-and-family club, and it is not in
Read More...Occidental Petroleum, continues to tinker with its offer to buy Anadarko Petroleum, late Sunday putting a revised bid in front of the independent producer, offering mostly cash as it looks to wrest its prey from Chevron, Kallanish Energy reports. Oxy is still offering to buy Anadarko for $76 a share, but would now pay 78% in
Read More...A battle between Chevron and Occidental Petroleum, which now includes billionaire investor extraordinaire Warren Buffett, to take control of U.S. independent producer Anadarko Petroleum, is fueling speculation about more deals to come. But oil supermajor BP Plc CEO Bob Dudley Tuesday said his employer will not get involved. BP acquired BHP Billiton’s U.S. shale assets for
Read More...Energy infrastructure company Sempra Energy has completed the sale of its U.S. renewables business and non-utility natural gas storage assets for roughly $2.5 billion in cash, Kallanish Energy reports. The announcement comes with Monday’s completion of the sale of its remaining ownership interests in operating and development-stage wind assets to American Electric Power for $584 million in cash.
Read More...Murphy Oil Corp. announced its Murphy Exploration & Production Company – USA unit is acquiring deepwater Gulf of Mexico assets from LLOG Exploration Offshore and LLOG Bluewater Holdings for $1.38 billion in cash, Kallanish Energy reports. Additional contingent consideration payments are based on the following: up to $200 million in the event revenue from certain
Read More...Welcome to this week’s edition of The Buzz, a weekly feature where Kallanish Energy editors select the quartet of stories this past week we feel were the most important – have the chance to make the biggest impact on the oil and gas industry — and energy as a whole. This week’s selections include: Venezuela bypasses U.S. sanctions
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