DNV GL to combine oil & gas and renewables operations
DNV GL has announced plans to combine its current oil and gas and power and renewables wings to create one new business area.
mergers and acquisitions
EV-tech company Proterra to go public through ArcLight SPAC
Proterra Inc., which makes electric buses and batteries, agreed to go public through a merger with special purpose acquisition company ArcLight Clean Transition Corp.
Simmons boss says 2021 shaping up to be exciting period for M&A
This year is shaping up to be an exciting period for mergers and acquisitions (M&As) in the oil and gas industry, according to Aberdeen-based energy finance expert Mike Beveridge.
Diamondback Energy to acquire QEP Resources for $2.2 billion
Diamondback Energy is planning a pair of acquisitions worth more than $3 billion that would strengthen its position in the Midland Basin of West Texas.
Exploration drilling activity expected to recover in 2021, says Westwood Global
Offshore drilling activity on the UK Continental Shelf (UKCS) is expected to recover in 2021 with a dozen potential exploration wells identified.
Managing decommissioning risk in M&A transactions
With $14 billion of commitments before 2024, according to Rystad, decommissioning costs have long been a risk to and blocker in transactions, especially portfolio and corporate deals. The sector has moved a long way since early stage bilateral decommissioning agreements as sellers sought to navigate Section 29 of the Energy Act 2008 and other commercial risks in pursuit of the “clean break”.
HitecVision ’emerging as frontrunner’ to buy ExxonMobil UK North Sea assets
HitecVision AS is emerging as the frontrunner to acquire Exxon Mobil Corp.’s oil assets in the U.K. North Sea, according to people familiar with the matter.
AqualisBraemar to snap up fellow consultancy LOC Group for £15m
Oslo-listed offshore energy sector consultancy firm AqualisBraemar has stuck a deal to buy LOC Group for £15.2 million.
Assessing energy merger and acquisition opportunities in a time of pandemic
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
EnQuest, Sinopec ‘among bidders’ for ExxonMobil UK North Sea oil and gas fields
ExxonMobil's UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the US oil giant seeks to exit the aging region altogether, according to people with knowledge of the matter.
Longboat bosses anticipate ‘exciting period’ for North Sea deal activity
Bosses at Longboat Energy said today they were making “good progress on several fronts” in their quest to complete a maiden acquisition for the London-listed firm.
Cut your deal according to your cloth
Innovation will be increasingly important to companies trying to do deals in the North Sea once prices start to rebound, CMS’ managing partner in Aberdeen, Norman Wisely, has said.
Spending capital on M&A ‘the exception’ for now, experts say
Mergers and acquisitions (M&A) are almost completely off the table in the oilfield services (OFS) sector, investment experts have said.
Deloitte to join discussion at P&J mergers and acquisitions event
A power and energy storage expert at Deloitte has been announced as the second speaker to address the P&J’s business breakfast on mergers and acquisitions (M&A) next month.
Due diligence expert to chair M&A debate
Experienced due diligence expert and partner at big four firm Deloitte, Shaun Reynolds, will chair a discussion on Mergers and Acquisitions (M&A) at a P&J business breakfast next month.
Strong, but not stable sums up M&A activity in 2019
In a highly political year, defined by Brexit and climate change and culminating in a general election, you will forgive me for corrupting a slogan from our former prime minister to describe the last 12 months.
‘This cannot continue’: OGA ready to wield powers to conquer transaction drag
The UK oil and gas industry’s regulator is ready to wield its powers to tackle the “transaction drag” hindering efforts to get oilfields into the right hands.
Energy transition influence on M&A strategies grows
Climate change and the target of achieving net zero carbon emissions by 2035 is having a significant impact on the energy sector, and that trend will continue for the foreseeable future.
Aberdeen deal activity – an honest assessment
I was asked to present a view on deal flow in Aberdeen. Not a bland “it’s getting better, albeit still challenging” comment, but something more realistic, perhaps more honest, based on what we’re seeing in the day-to-day.
Centrica formally launches sale of Spirit Energy – report
Centrica has formally launched the process of selling off its stake in North Sea explorer Spirit Energy, according to a news report.
Consolidation the answer for bloated supply chain, Simmons boss says
The recovery of the north-east’s oil and gas industry has not been “spectacular” despite a flurry of M&A activity in the first six months of the year, an industry expert has said.
Oilfield services transactions at lowest level since 2014 oil price crash – KPMG
Growing optimism in the oil and gas sector has failed to date to deliver a lift in oilfield services (OFS) transactions, according to KPMG.
The North Sea in 2019 – an era of transition?
New levels of North Sea upstream deal activity in 2019 are giving us many reasons to be positive and optimistic about the future.
Private equity fuels oil and gas deals in second quarter
Oil and gas transactions have remained steady throughout Q2 2019 with significant activity among operators as the focus continues to be on the divestment of non-core assets.
Video: North Sea acquisitions market to stay ‘hot’, experts say at EV event
The North Sea will be a hotbed of merger and acquisition (M&A) activity if the oil price holds up, the audience heard at a bumper breakfast event in Houston today.