Tuesday, February 28, 2012

Kinder Morgan divests El Paso’s E&P assets for $7.15B

Affiliates of Apollo Global Management LLC, Riverstone Holdings LLC, Access Industries Inc and other investors, have signed a definitive agreement to acquire all of the oil and gas exploration and production assets of El Paso Corp for approximately $7.15 billion.


Continue reading for a detailed analysis.

Linn Energy acquires BP’s Kansas assets for $1.2B

Linn Energy LLC has signed a definitive purchase agreement to acquire Hugoton basin properties located in Kansas from BP for $1.2 billion.


Continue reading for a detailed analysis.

Rosetta Resources sells certain South Texas assets for $95M

Rosetta Resources Inc has entered into a purchase and sale agreement to sell interest in its Lobo assets and a portion of its Olmos assets in South Texas for $95 million. 


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Wapiti acquires Utah assets from Gasco for $36M

Wapiti Oil & Gas II LLC has signed an agreement with Gasco Energy Inc to acquire 50% interest in Gasco’s producing and non-producing assets in Uinta basin, Utah. Effective 1-Sep-2011, the transaction is expected to close in Mar-2012, subject to necessary approvals.


Continue reading for a detailed analysis.

Friday, February 24, 2012

Buru Energy enhances Canning Superbasin presence


Buru Energy has been offered 2 permits, L11-1 and L11-2, onshore Canning Superbasin, Western Australia, by the Department of Mines and Petroleum. Final award of the permits is subject to completion of negotiations. Continue reading here..

Mitsubishi enters PNG through $280M farm-out agreement

Mitsubishi Corp has signed a farm in agreement with Talisman Energy to acquire interests in nine licences in Papua New Guinea’s onshore Western Province for $280 million which will be paid in the form of capital carry. Following the farmout, Talisman and Mitsubishi interests in the licences will average 40% and 20%, respectively. The transaction is effective 1-Jan-2012 and is subject to approvals. RFC Corporate Finance has acted as an advisor to Talisman on this transaction. Continue reading here..

Centrica acquires North Sea assets from Total for $388M

Centrica Plc has reached an agreement with Total E&P UK Ltd to acquire their non-operated portfolio of producing oil and gas assets and associated infrastructure in the Central North Sea (CNS) for a total cash consideration of $388 million. Around 20% of the consideration is allocated to UK tax allowances. The transaction is effective 1-Jul-2011 and is expected to close on a field by field basis with earliest closing date expected to be in Jul-2012, subject to necessary approvals. Scotia Waterous has acted as an advisor to Total on this transaction. Continue reading here..

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