• Joe Barone, Shale Directories
  • Blog
  • August 9, 2019

NGL Energy Partners sells refined products assets

NGL Energy Partners announced it’s selling TransMontaigne Product Services (Tpsl) and associated assets to an unnamed buyer for roughly $300 million, including equity consideration, inventory and net working capital, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • August 9, 2019

Oxy sells $13B of debt to help fund Anadarko buy

Occidental Petroleum sold $13 billion of debt to help finance its acquisition of Anadarko Petroleum Corp. after receiving over $75 billion in orders for the deal at the peak, people familiar with the matter told Bloomberg.
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  • Joe Barone, Shale Directories
  • Blog
  • July 31, 2019

TC Energy selling gas-fired power plants for $2.87B

TC Energy said Tuesday it’s entered into a deal via its TransCanada Energy Ltd. unit to sell interests in three Ontario natural gas-fired power plants to a subsidiary of Ontario Power Generation for roughly $2.87 billion, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • July 25, 2019

Presidio completes asset acquisition from Apache

Presidio Investment Holdings this week announced it’s completed the acquisition of all oil- and natural gas-producing properties in the western Anadarko Basin of Texas, Oklahoma, and Kansas from Apache Corp.
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  • Joe Barone, Shale Directories
  • Blog
  • July 24, 2019

Qatar Petroleum enters blocks offshore Kenya

State-owned oil firm Qatar Petroleum announced Tuesday the acquisition of interests in three blocks in offshore Kenya, Kallanish Energy reports. The L11A, L11B and L12 blocks are located in the Lamu Basin, in the eastern part of the country, covering 5,790 square miles in water depths between 3,280 feet and 9,840 feet in the Indian Ocean.
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  • Joe Barone, Shale Directories
  • Blog
  • July 4, 2019

Africa Oil in South African block farmout

Canadian firm African Oil announced Wednesday a farmout agreement with Namibian company Azinam Ltd. to acquire interests in a block offshore South Africa, Kallanish Energy learns.
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  • Joe Barone, Shale Directories
  • Blog
  • July 2, 2019

Marathon Oil closes sale of UK business

Marathon Oil Corp. said Monday the company has closed on the sale of its U.K. business, which consists of the Brae area fields and Foinaven, to UK independent producer RockRose Energy PLC for $95 million.
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  • Joe Barone, Shale Directories
  • Blog
  • July 1, 2019

EQT wins support in proxy fight with Rice Bros

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.
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  • Joe Barone, Shale Directories
  • Blog
  • June 28, 2019

Proxy advisory firm backs dissidents against EQT

Well-known proxy advisory firm Institutional Shareholder Services (Iss) has issued a report recommending EQT Corp. shareholders elect all seven dissident board nominees advocated by the so-called Rice Team, along with the five EQT nominees backed by the dissidents, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • June 28, 2019

I Squared Capital to Sell Cube Hydro to Ontario Power

I Squared Capital, through its ISQ Global Infrastructure Fund I, announced this week it’s selling its hydropower operations, Cube Hydro Partners, and its affiliate, Helix Partners, to Ontario Power Generation (Opg) for an undisclosed price.
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  • Joe Barone, Shale Directories
  • Blog
  • June 28, 2019

W&T Offshore acquiring Xom assets in GoM for $200M

W&T Offshore said Thursday it’s acquiring ExxonMobil’s interests in and operatorship of oil- and gas-producing properties in the eastern region of the Gulf of Mexico, offshore Alabama, and related onshore processing facilities for $200 million, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • June 26, 2019

Icahn rips Oxy’s board for treating shareholders like ‘peasants’

Billionaire activist investor Carl Icahn ripped Occidental Petroleum Tuesday, criticizing the independent producer’s board, Kallanish Energy reports. He criticized corporate boards in general that treat “shareholders [as] necessary peasants who represent a necessary evil that must be tolerated, possibly patronized, but certainly ignored.” “The recent Occidental Petroleum fiasco is a great example of how CEOs and boards will go to great lengths, including ‘betting the company’ to serve their own agendas,” Icahn said, in a statement.
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  • Joe Barone, Shale Directories
  • Blog
  • June 26, 2019

Pseg Power selling interest in coal-fired plants

Public Service Enterprise Group’s Pseg Power unit has agreed to sell its 776-megawatt, or 21.66%, interest in the Keystone and Conemaugh coal-fired power plants in Western Pennsylvania, plus related assets, including the assumption of liabilities.
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  • Joe Barone, Shale Directories
  • Blog
  • June 21, 2019

Development Capital forms $165M JV in the Permian

Development Capital Resources (Dcr) said this week a company unit, capitalized by funds managed by affiliates of Ares Management, has entered into a drilling and development joint venture with a private operator in the Permian Basin, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • June 20, 2019

Chisholm O&G, Gastar Exploration merging

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.
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  • Joe Barone, Shale Directories
  • Blog
  • June 14, 2019

TPG, Glendale partner to buy non-operated assets

Global finance/investment firm TPG Sixth Street and private oil and gas producer Glendale Energy Ventures announced a new oil and gas investment partnership with an initial $500 million in capital commitments.
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  • Joe Barone, Shale Directories
  • Blog
  • June 12, 2019

Shell to sell California refinery for $1B

Oil supermajor Royal Dutch Shell has agreed to sell its Martinez, California, refinery, 30 miles northeast of San Francisco, to independent refiner PBF Energy for up to $1 billion, the two companies announced Tuesday, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • June 7, 2019

Gazprom Neft signs with Novatek, Shell

Russia’s third largest oil producer, Gazprom Neft, Thursday revealed three joint ventures to develop hydrocarbon projects in Russia, Kallanish Energy learns.
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  • Joe Barone, Shale Directories
  • Blog
  • June 4, 2019

Petrobras to sell onshore fields

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.
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  • Joe Barone, Shale Directories
  • Blog
  • May 20, 2019

Rice Team revises EQT board slate to 7 from 9

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.
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  • Joe Barone, Shale Directories
  • Blog
  • May 10, 2019

EQT uses stick & carrot against Rice-led dissidents

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.
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  • Joe Barone, Shale Directories
  • Blog
  • May 9, 2019

Chevron walking away from Anadarko, with $1B in its pocket

In a much expected move, oil supermajor Chevron said this morning it will not counter the higher bid made for Anadarko Petroleum by Occidental Petroleum, contrent to walk away from the deal with a $1 billion breakup fee, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • May 7, 2019

Anadarko tells Chevron it’s been replaced

Anadarko Petroleum’s board said Monday Occidental Petroleum’s buyout offer is “superior” to its purchase deal with Chevron, Kallanish Energy reports. The oil supermajor is now on the clock.
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  • Joe Barone, Shale Directories
  • Blog
  • May 6, 2019

Occidental revises Anadarko bid, offers mostly cash

Occidental Petroleum, continues to tinker with its offer to buy Anadarko Petroleum, late Sunday putting a revised bid in front of the independent producer, offering mostly cash as it looks to wrest its prey from Chevron, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • April 30, 2019

SEC alleges insider trading in Chevron-Anadarko deal

The U.S. Securities and Exchange Commission Monday announced it secured a court-ordered freezing of assets related to alleged insider trading that yielded roughly $2.5 million in profit connected to the April 12 announcement Chevron was acquiring Anadarko Petroleum.
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  • Joe Barone, Shale Directories
  • Blog
  • April 26, 2019

Pbfx buys 50% interest in Calif. pipeline firm

PBF Logistics (Pbfx) said it’s acquiring the 50% interest it doesn’t already own in the Torrance Valley Pipeline Co. (Tvpc) from an affiliate of its sponsor, refiner PBF Energy, for roughly $200 million in cash, Kallanish Energy reports.
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  • Joe Barone, Shale Directories
  • Blog
  • March 12, 2019

Antero Midstream, Amgp announce simplification approval

Antero Midstream Partners (AM) and the partnership’s general partner, Antero Midstream GP (Amgp), said Monday AM’s unitholders and Amgp’s shareholders voted to approve the previously announced “simplification” transaction between the companies.
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  • Joe Barone, Shale Directories
  • Blog
  • March 1, 2019

Eclipse, Blue Ridge close merger, change name

Eclipse Resources and Blue Ridge Mountain Resources said Thursday they’ve completed their merger, announced last August, with the melded company now known as Montage Resources Corp.
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