Company News

Samson Resources Sells Powder River Basin Assets to Continental Resources

Samson II entered a definitive agreement in January 2021 to sell all of its Powder River Basin assets to an undisclosed buyer for $215 million in cash. The company exited 2020 producing 8,500 boe/d (75%) oil from these assets. The sale is expected to close on March 4, 2020…

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IOG Capital Acquires Sequel Energy's Utica Assets in Ohio

IOG Resources closed on the acquisition of non-operated interests in the Ohio Utica from Sequel Energy. These assets include 77 producing horizontal wells operated by Southwestern Energy and Ascent Resources with net production of 75 mmcfe/d (85% gas).

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Baker Hughes, Akastor Form 50-50 JV for Offshore Drilling Equipment

This agreement will combine Baker Hughes' Subsea Drilling Systems (SDS) business with MHWirth in a 50-50 joint venture. Operations will be managed from current offices in Houston and Kristiansand, Norway with Pete Miller serving as chairman and CEO of the new company. MHWirth…

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Blueknight Energy Sells Crude Oil Businesses to Enbridge, CVR Energy

Blueknight has entered into multiple definitive agreements in December 2020 to sell its crude oil terminalling, pipeline, and trucking businesses for $162 million in cash including linefill and inventory. The company plans to use the proceeds to reduce debt. Enbridge will…

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Diamondback Energy Acquires Guidon Energy for Cash and Stock

Diamondback Energy entered a definitive agreement in December 2020 to acquire all leasehold interests and related assets of Guidon Operating in exchange for 10.63 million shares of common stock and $375 million of cash. This includes 32,500 net acress in the northern Midland…

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Tengasco and Riley Exploration Permian Merge in All-Stock Deal

Tengasco and Riley Exploration Permian entered into a definitive agreement in October 2020 in which Tengasco will issue 203 million shares of common stock to Riley members. Current Riley members will own 95% of Tengasco with Tengasco shareholders holding 5%. Riley's acreage…

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EP Energy Sells Southern Midland Basin Assets to Undisclosed Buyer

EP Energy entered into an agreement in December 2020 with an undisclosed buyer to divest their assets located in the southern Midland Basin. The transaction is expected to close by the end of January 2021. Pro forma for the divestiture, EP Energy will own approximately 410,…

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NEO Energy to Acquire ExxonMobil's Central, Northern North Sea Assets

The agreement is valued at more than $1.0 billion with contingent considerations of $300 million, based on commodity prices. The portfolio consists of 21 assets, including 14 fields and a number of infrastructure positions. Areas include the Gannet Cluster, Elgin-Franklin…

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Macquarie Forms WaveCrest Energy to Develop LNG, Power Infrastructure

Macquarie Capital announced the launch of WaveCrest Energy that will develop, construct, own, and operate LNG regasification, power, and downstream infrastructure assets. The company will initially focus on Latin America and Asian markets.

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Kinder Morgan, Brookfield to Sell 25% Interest in NGPL to ArcLight Capital

Kinder Morgan and Brookfield Infrastructure have agreed to sell a 25% interest in Natural Gas Pipeline Co. of America (NGPL) to ArcLight Capital for $830 million. RBC served as an advisor to NGPL.

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