Conoco is not alone in its pursuit of CrownRock, though.
The deal is apt to face tough antitrust scrutiny from the Federal Trade Commission.
Despite considerable pressures on offshore wind and a hostility towards oil and gas, appetite for dealmaking in the services sector remains high.
The separation from SNC-Lavalin is complete, and the team at Kent are reflecting on why and how the programme was delivered, not without pain, but ultimately successfully.
A new McKinsey report finds that more than 50% of upstream oil and gas M&A deals don’t create shareholder value and firms eyeing takeovers and acquisitions should focus on synergies rather than cost-cutting.
Viaro Energy has agreed to buy the majority stake in a series of North Sea fields from Hartshead Resources (ASX: HHR) in a "landmark" A$196.3m (£105m) deal.
The NSTA is proposing new rules to streamline industry deals and boost energy security.
Wentworth held its vote yesterday, with 75.26% of shares voted in favour of the scheme. The deal required 75% approval.
There are claims Westminster’s fiscal interventions have made the UK “one of the most unstable economies” for energy investments.
Industry leaders have accused politicians of scaring off energy investment and growth by turning the sector into a “pariah”.
Palliser has suggested that Capricorn should return at least $535 million to shareholders.
Renewable energy M&A deal value in Asia Pacific increased by 11% year-on-year to $19 billion in 2022, primarily due to a surge in onshore wind and geothermal merger and acquisition activity.
AAB Corporate Finance is delighted to share with you our Deals Update for H2 2022 in conjunction with Energy Voice, highlighting selected energy merger and acquisition (M&A) and fundraising transactions across the UK.
Underscoring the rising interest in Southeast Asia’s upstream market, North Sea-focused E&P company Longboat Energy (AIM:LBE), confirmed it is “exploring opportunities to broaden its strategic remit” in the region.
Despite the above-surface challenges, Indonesia's subsurface oil and gas potential remains attractive. More upstream M&A is on the cards as majors, independents and NOCs reshuffle their portfolios.
Bracewell’s managing partner in London Jason Fox said this was not new “but the noose is tightening quickly and ESG is the headwind. It’s not just the E that’s biting but also the G, for governance, with banks increasingly retreating from emerging markets because of additional risks, particularly concerns around corruption.”
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
CRC Evans has announced that a merger between four organisations has brought about the creation of a welding and coating services firm.
CHC has announced it will sell the former Babcock North Sea helicopter business to South African firm Ultimate Aviation Group.
Smith noted the opposition from shareholders to the Tullow merger. “The message from shareholders was that there was a preference for cash returns over long-term delivery. We listened to that and [the NewMed deal] offers a lot of cashback, while also being energy transition led.”
Capricorn Energy has conceded that it expects to hold an EGM on February 1 but has warned shareholders against rejecting its proposed combination with NewMed Energy.
Zenith said there were near-term growth opportunities. This would involve infill drilling and sidetracks for six new wells, boosting output to 15,000 bpd.
The UK North Sea saw little bounce back in activity following the 2020-21 ‘Covid low’, with only the M&A space staying buoyant.
Shell (LON: SHEL) has launched the sale of its stakes in a group of oilfields in the UK North Sea, according to marketing materials.
Waldorf Production, a prolific buyer of oil and gas exploration assets in the North Sea, is seeking to raise as much as $2 billion to help bankroll more deals, people with knowledge of the matter said.