Occidental Petroleum Corp is soliciting bids for oil and gas properties in Wyoming and Colorado acquired when it purchased Anadarko Petroleum, hoping the assets will bring up to $700 million, people familiar with the matter told Reuters. Occidental offered roughly 200,000 acres in the Denver-Julesburg Basin of Wyoming and Colorado that produce $66 million a
Read More...Tennessee-based biofuel company Eco-Energy has acquired the Stone Mountain gathering pipeline system, Stone Mountain processing facility and the Stone Mountain rail terminal from Continuum Energy Services for an undisclosed price. The Stone Mountain gathering system is made of up over 600 miles of gathering pipelines that span Kentucky, Tennessee, and Virginia, Kallanish Energy learns. The
Read More...In June MDN told you that the Cambridge (Massachusetts) Retirement System is not happy with their investment in EQT shares of stock, so they’re suing the company (see Mass. Retirement Fund Sues EQT for Plummeting Stock Price). They hope to turn the lawsuit into a class action on behalf of other shareholders. Now a group
Read More...Wood Plc has agreed to sell its nuclear business for 250 million pounds ($302 million), as it cuts debt associated with the 2017 acquisition of Amec Foster Wheeler and a prolonged oil-price slump, Kallanish Energy reports. The Scottish engineering and services business will sell the unit to a subsidiary of Jacobs Engineering Group. The deal
Read More...This one slipped under the radar for a bit. At the end of June, Pittsburgh-area Falcon Drilling, a Marcellus and Utica shale drilling contractor, announced it is buying out and merging in another Pittsburgh-area drilling company, Complete Drilling Solutions. Terms of the deal were not disclosed. This post appeared first on Marcellus Drilling News.
Read More...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
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