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.

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..

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..

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..

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..

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..

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..