Mergers & Acquisitions
WPX Buys Permian Basin Assets from RKI Exploration
Don’t count the Delaware Basin out just yet. Tulsa-based WPX has agreed to buy certain Permian Basin assets from Oklahoma City-based RKI Exploration & Production for $2.75 billion in cash, stock and debt. WPX executives said the company plans to keep RKI’s Oklahoma City and New Mexico offices and their employees. RKI has about 100 [&hellip
Noble Energy to Acquire Rosetta Resources
The first significant energy asset acquisition since the meltdown of crude oil prices, Noble Energy, Inc. (Noble Energy) (NYSE: NBL) of Houston and Rosetta Resources Inc. (Rosetta) (NASDAQ: ROSE) have announced a definitive merger agreement whereby Noble Energy will acquire all of the common stock of Rosetta in an all-stock transaction valued at $2.1 billion, [&hellip
Haliburton/Baker Hughes
Halliburton Company announced March 27 that its stockholders approved Halliburton’s proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes Incorporated. In addition, Baker Hughes announced that its stockholders adopted the merger agreement and thereby approved the proposed combination of the two companies. Ninety nine percent of the [&hellip
Encana Corp. to Purchase Athlon Energy Inc.
Encana Corp. has agreed to pay $5.93 billion for Athlon Energy Inc.. This goes on record as the biggest announced purchase of a U.S. crude and natural gas producer by a Canadian company. The $58.50-a-share cash acquisition represents a 25 percent premium to Athlon’s closing price on Sept. 26, Encana said today in a statement. [&hellip
Eagleford Shale Action
At its Jourdanton prospect in Atascosa County, Texas, Abraxas Petroleum said the Blue Eyes 1H continues to show encouraging results, however no 30-day IP rate was provided. Abraxas recently permitted Snake Eyes 1H, which was spud in the first quarter of 2014. “Given the early results of the Blue Eyes 1H, we have elected to drill the [&hellip
LINN Purchases Berry
HOUSTON and DENVER, Dec. 16, 2013 (GLOBE NEWSWIRE) — LINN Energy, LLC (Nasdaq:LINE) and LinnCo, LLC (Nasdaq:LNCO) announced today the successful completion of the previously announced merger between LinnCo and Berry Petroleum Company (NYSE:BRY). Under the terms of the agreement, LinnCo has acquired all of Berry’s outstanding shares. Pursuant to the terms of the contribution [&hellip
Devon Pays $6B for Eagleford Shale Reserves
Devon Energy Corp. has just announced it will pay $6 Billion for a Woodlands-based company’s assets in the Eagle Ford oil play, the largest such deal of the year. Oklahoma City-based Devon will acquire 82,000 net acres in DeWitt and Lavaca counties from GeoSouthern Energy. The acreage, which is largely contiguous, currently produces 53,000 barrels of [&hellip
Quicksilver Resources Inc. Partners with Eni
Fort Worth, TX-based Quicksilver Resources Inc. (NYSE:KWK) has entered into an agreement with Eni whereby Quicksilver and Eni will jointly evaluate, explore and develop approximately 52,500 gross acres in the Delaware Basin currently held by Quicksilver in the Leon Valley area located in Pecos County, Texas. Under the terms of the agreement: • Eni will [&hellip
West Texas Resources Buys into Louisiana
Frisco, Texas – West Texas Resources, Inc. ( OTCQX : WTXR ), a Texas-based independent oil and gas company, has announced its acquisition of a 7.24625% working interest in the oil and gas leases, wells and attendant production in the Port Hudson field, Baton Rouge Parish, Louisiana, for total consideration of $702,900. The Port Hudson [&hellip