Company News

New Fortress Energy Acquires Hygo Energy Transition, Golar LNG Partners

New Fortress Energy entered a definitive agreement in January 2021 to acquire Hygo Energy Transition, a 50-50 joint venture between Golar LNG (GLNG) and Stonepeak Infrastructure, and Golar LNG Partners (GMLP). With the acquisition of Hygo, NFE will acquire an operating FSRU …

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Sval Energi Acquires Edison's Norwegian Assets for $300 Million

Sval Energi signed an agreement in December 2020 to acquire Edison Norge for $300 million, adding net 25 million boe (57% gas) to Sval's reserve base. This includes a 10% interest in Dvalin development and 15% interest in Nova project. Closing is expected within the first…

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Diamondback Energy Acquires QEP Resources in All-Stock Deal

Diamondback entered a definitive agreement in December 2020 to acquire QEP in an all-stock transaction valued at $2.2 billion including QEP's net debt of $1.6 billion. The consideration includes 0.05 Diamondback common shares for each QEP share. This has been unanimously…

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Innovex Downhole Acquires Rubicon Oilfield International

Innovex entered a definitive agreement in November 2020 to acquire Rubicon with closing expected in early 2021. Terms of the transaction were not disclosed. Rubicon was formed in 2015 with $300 million in funding from Warburg Pincus. Tercel Oilfield Products, Waal King,…

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Expro to Combine With Frank's International in All-Share Transaction

Expro shareholders will own 65% of the company with Frank's shareholders having 35%. Frank's CEO Mike Kearny will become chairman with headquarters moving to Houston. Expro shareholders will receive 7.272 shares of Frank's with the company's NYSE ticker changing to XPRO. The…

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Enerplus Acquires ArcLight-Backed Bruin E&P in Cash Transaction

Enerplus entered a definitive agreement in January 2021 to acquire Bruin E&P for $465 million in cash funded by a $400 million, three-year term loan and $115 million in bought-deal equity financing. Bruin has 151,000 net acres in the Williston Basin including 30,000…

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Blackstone-Backed Vine Energy Launches Initial Public Offering

The company will offer 18,750,000 shares at a price between $16 and $19 with a listing on the NYSE (VEI) exchange.

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SECURE Energy Services to Acquire Tervita in All-Stock Transaction

Annual cost savings are estimated at $75 million with Tervita shareholders owning 48% of the company.

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NEO Energy to Acquire Zennor Petroleum

This transaction includes a portfolio of assets centered around the Britannia and ETAP product hubs in the North Sea.

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Saudi Arabia's Public Investment Fund Makes Offer to Acquire ADES International

The Public Investment Fund of the Kingdom of Saudi Arabia has offered to acquire all the outstanding shares of ADES International via Innovative Energy.

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