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. 


Continue reading for a more detailed analysis.

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..

Shell offers a significant premium for Cove

Shell has offered to acquire Cove Energy Plc, a British oil and gas explorer, for approximately $1.6 billion within one and a half months after Cove Energy was put up for sale. Shell subsidiary Shell Bidco has offered £1.95 per (US$3.08) Cove share, valuing the company at £992.4 million (~US$1.57 billion). After accounting for Cove’s working capital surplus of $172.8 million, the deal value comes to ~$1.4 billion.  Continue reading here..


CAMAC Energy to acquire three blocks in Kenya


CAMAC Energy Inc has entered into a Heads of Agreement with the Kenyan Ministry of Energy for the award of three exploration blocks: 11A, L1B, and L16. CAMAC will be the operator with 90% interest in the blocks. The Government of Kenya will be carried at 10% through declaration of commerciality and may thereafter elect to participate up to 10%. Continue reading here..

Wednesday, February 22, 2012

Otto Energy acquires 50% interest in two Tanzania PSAs

Otto Energy Ltd has agreed to acquire 50% WI in two onshore Production Sharing Agreements (PSAs), Kilosa-Kilombero and Pangani, in Tanzania from Swala Oil & Gas (Tanzania) Ltd. Continue reading here..

Egdon Resources farms out 12.5% interest in onshore UK licence

Egdon Resources Plc has farmed out 12.5% interest in Petroleum Exploration and Development Licence 201 located in Nottinghamshire and Leicestershire, UK to Terrain Energy Ltd and Corfe Energy Ltd. Terrain and Corfe will each pay 12.5% of the cost of the planned Burton on the Wolds-1 exploration well to earn 6.25% interest. The transaction is subject to necessary approvals. Continue reading here..

Monday, February 20, 2012

Dragon Oil explores possible offer for Bowleven


Dragon Oil Plc, an oil explorer focused on Turkmenistan, has confirmed in a statement that it is in the preliminary stages of exploring a possible offer for Bowleven Plc, a company with a Market Cap of £348 million with operations focused in Cameroon and Gabon. Continue reading here..

Saturday, February 18, 2012

Crescent Point Energy expands Bakken presence


PetroBakken Energy Ltd has agreed to sell certain non-core Southeast Saskatchewan assets to Crescent Point Energy Corp for C$427 million (US$428.341 million) in cash. The assets are located in the water flood area of the Viewfield Bakken light oil resource play. Continue reading here..

ConocoPhillips-Perenco deal analysis


ConocoPhillips has entered into an agreement with Perenco to sell its Vietnam business unit for $1.29 billion. The transaction is anticipated to close in H1-2012. HSBC Securities (USA) Inc has acted as an advisor to ConocoPhillips. Continue reading here..

ConocoPhillips bids adieu to Vietnam


ConocoPhillips has entered into an agreement with Perenco to sell its Vietnam business unit for $1.29 billion. The transaction is anticipated to close in H1-2012. This transaction is a part of the ConocoPhillips’ asset divestiture program of 2010-12 worth $15 billion to $20 billion. Continue reading here..


Friday, February 17, 2012

Sound Oil seeks partner for assets in Italy and Indonesia

Sound Oil Plc, in November 2011, has announced that there are opportunities to farm out several large scale assets possibly in Italy and Indonesia. Continue reading here..

Parex acquires further interest in Colombia block from Talisman Energy

Parex Resources Inc has signed an agreement with Talisman Energy to acquire its 25% interest in the El Eden block. Pursuant to the transaction, Parex will have 60% interest in the block and 50% of the non-producing Chiriguaro oil discovery. The completion is subject to regulatory approval. Continue reading here..

Anadarko to divest Indonesian assets


Anadarko Petroleum Corporation has planned to sell its assets in Indonesia (primarily deepwater exploration acreage offshore East Kalimantan). Anadarko has participating interests in approximately 4.5 million exploration acres through a combination of several operated and non-operated Production Sharing Contracts (PSC). Continue reading here..

Devon Energy expands Utica Shale presence


Devon Energy has acquired an additional 125,000 net acres in the Utica Shale play in Ohio in Q4-2011. Pursuant to this transaction, Devon holds 235,000 net acres in the Utica Shale play. Continue reading here..

Thursday, February 16, 2012

Rock Energy divests Montney assets for $46M

Rock Energy Inc has agreed to sell its entire Montney natural gas assets in Elmworth area of Alberta for C$46 million (US$46.185 million). Rock Energy has closed the sale of some of its Montney gas assets (Transaction 1) to a Canadian oil and gas producer for C$36 million (US$36.177) on 9-Feb-2012. The remaining assets are being sold (Transaction 2) to a second Canadian oil and gas producer for C$10 million (US$10.008 million). Closing of Transaction 2 is anticipated to occur before the end of Feb-2012, subject to necessary approvals. Continue reading here..

Alkane Energy farms out interest in two UK CBM blocks


Alkane Energy Plc has signed a partnership agreement with Aberdeen Drilling Management Ltd (ADM) to explore 2 of Alkane’s Petroleum Exploration and Development Licences (PEDL 191 and 90) with coal bed methane (CBM) potential in Nottinghamshire and in East Midlands, UK. Envoi is acting as an advisor to Alkane for this transaction. Continue reading here..

Magnolia acquires additional Oklahoma acreage


Magnolia Petroleum Plc has acquired an additional 480 gross acres with an average 83.33% WI and 81.25% NRI in the oil producing Mississippi Lime formation, Oklahoma via a farm-out agreement. Magnolia is on course to drill 1 well in the Mississippi Lime formation by the end of 2012 – Magnolia as operator. Continue reading here..

Wednesday, February 15, 2012

Petsec Energy acquires interest in Alberta Shale oil project

Petsec Energy has signed an agreement to acquire 24.5% WI in Alberta Shale oil leases covering 17,280 acres. Petsec will have to pay 35% of the costs to drill one initial commitment well and 35% of the costs of drilling up to 3 optional wells. The initial commitment well is expected to spud before the end of Feb-2012. Continue reading here..

Petroceltic to Sell Additional 18.375% interest in Algeria Gas Field

Petroceltic International Plc is looking to sell a further 18.375% stake in Ain Tsila gas field in Isarene Production Sharing Contract (Blocks 228 and 229a), Algeria. Earlier in April 2011, Petroceltic farmed out 18.375% interest in the Isarene Production Sharing Contract (Blocks 228 and 229a) to Enel Trade. Continue reading here..

GeoPark Acquires Winchester Oil & Gas and La Luna Oil for $30M


GeoPark Holdings Ltd has announced the acquisition of Winchester Oil and Gas SA and La Luna Oil Company Ltd SA (collectively – Winchester Luna), privately-held exploration and production companies operating in Colombia, for $30 million in cash. The agreement also provides for certain contingent payments from production revenues as a result of successful future exploration. Continue reading here..



Chesapeake Plans $10-$12 billion worth Asset Sales in 2012

Chesapeake Energy Corp, the second biggest US natural-gas producer, in its 2012 financial plan report said that it is seeking to raise between $10-$12 billion through assets sales and joint ventures. The proceeds from these sales are expected to help them cope with a cash crunch amid rising debt and tumbling gas prices. Continue reading here..

Tuesday, February 14, 2012

Somerton Energy to Acquire Interests in Bonaparte Basin area Permits

Somerton Energy Ltd has secured options to participate in 4 Bonaparte basin petroleum exploration tenements in the Northern Territory, Australia from Beach Energy Ltd. Under the terms of the agreement, Somerton can acquire up to 18% interest in onshore tenements EP 126 and EPA 138 and up to 8.25% interest in offshore tenements EPA 135 and NTC/P10. Continue reading here..

TAQA to acquire 50% interest in three UK North Sea licences

Abu Dhabi National Energy Company PJSC (TAQA) has signed farm-in agreements with Fairfield Energy Ltd to acquire 50% WI in the licences P184, P474 and P1634 (collectively known as the Darwin acreage), Northern North Sea. In exchange for acquiring the interest, Taqa has agreed to carry out a work programme on the blocks and make a cash payment to Fairfield. Continue reading here..

Xtract Energy Review Options for Julia Creek Oil Shale Project

Xtract Energy Plc is reviewing the commercial options available for the exploitation of its oil shale resources in Julia Creek project, Queensland, Australia to make developments attractive to potential commercial partners, as well as creating a bankable project. Continue reading here..

Monday, February 13, 2012

Quicksilver to Spin off Certain Barnett Shale Assets

Quicksilver Production Partners LP (QPP), a wholly-owned subsidiary of Quicksilver, has filed for an initial public offering (IPO) to raise upto $250 million. In connection with the IPO, Quicksilver will contribute certain of its Barnett Shale assets and related derivatives to QPP. JP Morgan and Credit Suisse are acting as lead book-running managers for the proposed offering. Continue reading here..

Majors willing to risk Iraqi contracts for Kurdistan riches?

Hussain Shahristani (Iraq’s Deputy Prime Minister for Energy) has warned Total would have to face “full consequences” if it signs oil deals with semi-autonomous Kurdistan (KRG). This warning follows Total’s statement which says that it is considering possible investments in Kurdistan. Continue reading here..

Viridas Acquired 23.7% Stake in Leed Petroleum

Viridas Plc acquired 23.7% stake in Leed Petroleum Plc from Old Church Street Holdings Limited and Lighthouse Investments Limited for £…0.47 million (US$0.73 million) on December 22, 2011. The offer price per share is £…0.0008 and the number of shares acquired by Viridas are 592.6 million. Viridas Plc also receive 166.6 million warrants to subscribe for new ordinary shares in Leed at a subscription price of 0.15 pence per share. Continue reading here..

Saturday, February 11, 2012

Encana targets Tuscaloosa Shale play

The Tuscaloosa Marine shale play, which covers approximately 2.7 million acres across central Louisiana and southwest Mississippi, could emerge as the next big shale play. In west-central Louisiana, the target shale in this new play is referred to as the Louisiana Eagle Ford by some industry peers, who note that it is similar in age and lithology to the highly productive, liquids-rich Cretaceous-age Eagle Ford interval in Texas. Continue reading here..

White Deer Acquires 23% Stake in PostRock Energy for $7.5M

White Deer Energy LP has acquired 2,180,233 common shares (~23% stake) at $3.44/share of PostRock Energy Corp (PEC) for a total consideration of $7.5 million. Continue reading here..

Friday, February 10, 2012

Talisman Energy to Divest Shaunavon Asset

Talisman Energy Inc has initiated a process to divest its Shaunavon assets in southwest Saskatchewan and has retained FirstEnergy Capital Corp as its exclusive financial advisor. This package is a part of company’s 2012 divestiture program which was announced in Jan-2012. Continue reading here...
Shell has signed a definitive agreement to acquire 50% interest in Blocks 2-3, Albania from Petromanas Energy Inc in exchange for payments and carried costs up to $50.3 million. Petromanas will remain as the operator with 50% interest. Continue reading here..

Tower Resources Seeks Partner for Uganda Block

UK listed Tower Resources Plc has retained Envoi to assist in finding a partner for progressing and accelerating exploration of the highly prospective but under-explored Block EA5 in northern Uganda. The block is 100% owned and operated by Tower, through its subsidiary Neptune Petroleum (Uganda) Ltd. Continue reading here..

Centrica acquires additional interest in Fogelberg licence.

Centrica has entered into an agreement to acquire an additional 12% interest in production licence 433 in the Norwegian North Sea from North Energy for NOK 70 million (US$12.178 million). The effective date of the transaction is 1-Jan-2012. Subject to approval by Norwegian authorities, it is expected to complete in Q2-2012. Continue reading here..

Bahamas Petroleum Seeks Partners for offshore Bahamas Licences

UK listed Bahamas Petroleum Company Plc is reviewing potential farm-in proposals in relation to a portion of its exploration licences located in offshore Bahamas, whilst also retaining a 100% interest in selected acreage. For more info on Assets, Continue reading here..

Newfield, Marathon, Challenger Minerals, Gulfsands Offers GoM Assets

Derrick has recorded over $1 billion worth packages put up for sale in Gulf of Mexico by Newfield Exploration, Marathon, Challenger Minerals, Gulfsands Petroleum, Davis Petroleum and Sojitz. For more information, continue reading here..

Thursday, February 9, 2012

Sonde Resources sells Duvernay Shale acreage

Sonde Resources Corp has sold 26,240 gross undeveloped acres (24,383 net acres) in its Kaybob Duvernay play in Alberta for aggregate proceeds of C$75 million (US$75.29 million). Sonde continues to own approximately 39,000 net undeveloped acres in Duvernay and Montney oil plays, in the Ante Creek and Bezanson area. Continue reading on the deal valuation here..

Cutpick Energy Considers Strategic Alternatives

Cutpick Energy Inc, a private Calgary-based corporation, has engaged FirstEnergy Capital Corp to evaluate a range of strategic alternatives, including possible liquidity events, aimed at enhancing shareholder value. Continue reading here..

Quantum Energy Partners forms Renaissance Offshore

Quantum Energy Partners, a leading private equity firm, has announced the formation of Renaissance Offshore by a $300 million equity commitment. Renaissance will primarily engage in acquiring and redeveloping legacy oil producing properties in the shallow water Gulf of Mexico. Continue reading here..

Connacher, Birchcliff Energy, EnCana and Talisman lead $14 billion worth Canadian Deals In Play

Derrick recorded nearly $14 billion worth Canadian packages put for sale by Connacher Oil & Gas, ConocoPhillips, Talisman, Birchcliff Energy, EnCana and Cenovus Energy. The $14 billion includes only the large packages estimated at greater than $1 billion. For more visit us:

Wednesday, February 8, 2012

Total sells Colombian assets for $1 billion

Total has agreed to sell TEPMA BV to Sinochem . This fully owned affiliate of Total holds a working interest in the Cusiana field as well as a participation in OAM and ODC pipelines in Colombia. Total share of production of Cusiana is around 7,000 BOE/d. The sale follows a divestiture of 5 % WI in the Ocensa pipeline to Petrominerales and of another 5 % to Cepsa in July 2011. The combined value of the three transactions amounts to about US$ 1 billion. Continue reading here..

Newfield Exploration to sell more assets

Newfield Exploration Company has announced its plan to divest non-strategic GoM assets. The company expects proceeds of about $335 million from the sale which is expected to close in early 2012. More info on Newfield’s GoM asset overview






Solo Oil Seeks Partner for Argentina block

UK listed Solo Oil Plc is seeking a partner for Mina El Carmen block in Argentina. Solo Oil has a diverse portfolio of direct and indirect interests in exploration, development and production within East Africa and North/South America. 


Solo Oil acquired Mina El Carmen block by buying Ilakon Ltd, a wholly-owned subsidiary of Obtala Resources. Continue reading here..

Cenobus seeks JV partner with broader market access

Cenovus Energy Inc is looking for a JV partner for its Telephone Lake oilsands project and expects to have an update on its search by the end of March. Continue reading here..

Oilsands Quest files for bankruptcy

Canada’s Oilsands Quest Inc filed for Chapter 15 protection from creditors in a U.S. bankruptcy court, after it failed to find buyers for its Wallace Creek assets in Alberta. On 27-Sep-2011, Oilsands Quest had signed a non-binding Letter of Intent to sell its Wallace Creek assets for $40 million, which was subsequently cancelled. Continue reading here..

Tuesday, February 7, 2012

Iona acquires 58.8% interest in West Wick oil discovery from Centrica for $8.2M

Iona Energy has signed an agreement to acquire 58.73% WI, including operatorship, in the West Wick oil discovery on UK Block 13/21a from Centrica Venture Production Company for $8.15 million. Iona will pay a deposit of $3.15 million, and on completion will pay the remaining $5 million. Post-transaction ownership structure of the block – Iona Energy (58.73%, operator) and Idemitsu (41.27%). Continue reading here...

EnQuest, Premier Oil and Eni – Possible Acquirers for Ithaca

Calgary-based Ithaca Energy Inc said that it has received a non-binding proposal to acquire all of the outstanding shares of the company. The Ithaca board says talks are at a preliminary stage and there is no certainty that the non-binding proposal will lead to an offer. As a result, shareholders are not required to take any action and Ithaca does not intend to comment further unless a definitive agreement is reached. The possible buyers could be Apache Corp, Premier Oil Plc, Total SA, Dana Petroleum Plc, EnQuest Plc and ENI. Continue reading here..



Oil & Gas Company Presentations – Jan 2012 to Feb 2012

Here is a list of oil & gas company presentations released in 2012 to date.


Click under title to view file.

Company Name
Title
Publication Date
Africa Oil Corp
6-Jan-12
Americas Petrogas
13-Jan-12
Apache Corp
23-Jan-12
Apache Corp
10-Jan-12
ARC Energy Trust
24-Jan-12
ARC Energy Trust
19-Jan-12
ARC Energy Trust
6-Jan-12
ARC Energy Trust
4-Jan-12
Arsenal Energy Inc
23-Jan-12
ATP Oil & Gas
4-Jan-12
Aurelian Oil & Gas
6-Jan-12
Baytex Energy Trust
2-Feb-12
Baytex Energy Trust
20-Jan-12
Baytex Energy Trust
18-Jan-12
Baytex Energy Trust
10-Jan-12
Baytex Energy Trust
3-Jan-12
BHP Billiton
20-Jan-12
Bill Barrett Corporation
24-Jan-12
Bill Barrett Corporation
4-Jan-12
BNK Petroleum
20-Jan-12
Bonavista energy
17-Jan-12
BP plc
18-Jan-12
BPZ Energy
18-Jan-12
BPZ Energy
5-Jan-12
BREITBURN ENERGY
10-Jan-12
BREITBURN ENERGY
5-Jan-12
C & C Energia
19-Jan-12
C & C Energia
17-Jan-12
C & C Energia
10-Jan-12
Carrizo Oil & Gas
4-Jan-12
Celtic Exploration Ltd
10-Jan-12
Cenovus Energy
19-Jan-12
Cenovus Energy
10-Jan-12
Cenovus Energy
5-Jan-12
Cequence Energy Ltd
9-Jan-12
Chesapeake Energy
27-Jan-12
Chesapeake Energy
9-Jan-12
Cimarex Energy
11-Jan-12
Cimarex Energy
4-Jan-12
CNOOC Limited (China)
18-Jan-12
Coastal Energy
6-Jan-12
Continental Resources, Inc.
5-Jan-12
Delphi Energy Corp.
12-Jan-12
Denbury Resources
3-Jan-12
Devon Energy
5-Jan-12
Dominion Resources
6-Feb-12
Dominion Resources
26-Jan-12
Encana Corp
25-Jan-12
Encana Corp
13-Jan-12
Encana Corp
10-Jan-12
Endeavour International Corp
5-Jan-12
EOG Resources Inc
10-Jan-12
EQT Corporation
9-Jan-12
EQT Corporation
9-Jan-12
Far East Energy Corporation
9-Jan-12
Faroe Petroleum
13-Jan-12
Gastar Exploration Ltd
4-Jan-12
GENEL ENERGY
5-Jan-12
Goodrich Petroleum
5-Jan-12
Gran Tierra
12-Jan-12
Husky Energy
16-Jan-12
Husky Energy
10-Jan-12
IGas Energy
27-Jan-12
Inpex Corp
24-Jan-12
Inpex Corp
24-Jan-12
Kodiak Oil & Gas
4-Jan-12
Legacy Oil+Gas Inc
16-Jan-12
Leni Gas & Oil Plc
26-Jan-12
Linc Energy Ltd
2-Feb-12
Lotos Petrobaltic S.A.
12-Jan-12
Lundin Petroleum
19-Jan-12
Lundin Petroleum
9-Jan-12
Madalena Ventures
18-Jan-12
Magnum Hunter Resources, Corp.
4-Jan-12
MEG Energy
1-Jan-12
Midway Energy Ltd
23-Jan-12
Murphy Oil
11-Jan-12
National Fuel Gas
10-Jan-12
Nido Petroleum Ltd
31-Jan-12
Norse Energy Corp ASA
19-Jan-12
OGX Petroleo e Gas
18-Jan-12
OGX Petroleo e Gas
5-Jan-12
Pacific Rubiales Energy Corp
7-Jan-12
Painted Pony
11-Jan-12
Painted Pony
11-Jan-12
PanOrient
9-Jan-12
Panoro Energy
19-Jan-12
Paramount Resources Ltd
6-Jan-12
Pengrowth Energy
26-Jan-12
Penn Virginia Corp
10-Jan-12
Penn West Energy Trust
19-Jan-12
Penn West Energy Trust
16-Jan-12
Penn West Energy Trust
13-Jan-12
Penn West Energy Trust
3-Jan-12
Petrobank Energy
13-Jan-12
Petrobank Energy
13-Jan-12
Petroceltic International plc
9-Jan-12
Petroleum Development Corporation (PDC)
10-Jan-12
Petroleum Development Corporation (PDC)
4-Jan-12
PetroQuest Energy
4-Jan-12
Pioneer Natural Resources
11-Jan-12
Pioneer Natural Resources
9-Jan-12
QEP Resources
11-Jan-12
Quicksilver Resources
5-Jan-12
Range Resources Corp
10-Jan-12
Range Resources Corp
10-Jan-12
Range Resources Corp
4-Jan-12
Range Resources Corp
3-Jan-12
Renegade Petroleum Ltd
15-Jan-12
Repsol YPF
20-Jan-12
Rex Energy
17-Jan-12
Rialto
23-Jan-12
Rockhopper Exploration plc
6-Jan-12
Rocksource (Norway)
19-Jan-12
Rosetta Resources
17-Jan-12
Salamander Energy Plc
9-Jan-12
Shell
1-Feb-12
Sherritt International
19-Jan-12
Southwestern Energy
9-Jan-12
Sterling Resources
16-Jan-12
Surge Energy Inc
9-Jan-12
Tap Oil Ltd
19-Jan-12
Terra Energy Corp
13-Jan-12
Tethys Oil AB
24-Jan-12
TransAtlantic Petroleum
12-Jan-12
Unit Corp
10-Jan-12
Unit Corp
4-Jan-12
Valiant Petroleum plc
10-Jan-12
Vermilion Energy Trust
5-Jan-12
Vero Energy
3-Jan-12
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