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Is It Time To Buy Oil Acreage? The Wolfcamp formation in the Midland Basin, which is part of the Permian Basin, has attracted many oil companies because of its stacked potential. Shown here is a structure and thickness map for the formation. A private-equity firm has agreed to put in $900 million to start a company that will buy US oil and gas operations with a focus on finding more oil. The equity investment by Oaktree Capital Management is far below the records set when the industry was looking up, but with acquisitions activity at a crawl, the timing is striking.
KBR announced that its joint venture with SOCAR, who is undertaking the engineering design phase of the Azeri Central East (ACE) platform, is now nearing completion. The ACE platform is the first of its kind to be designed through all phases, from concept to front-end engineering design and detailed design, to fully use KBR’s digital twin technology. The benefits of the digital twin continue to be used as the ACE platform moves into fabrication and commissioning, which is being undertaken in Azerbaijan. Digital twin technology creates a platform for all involved in the process to access all project information from anywhere in the world through all phases. The technology allows users to view procurement status and materials availability.
Peter Hays, a partner in mergers and acquisitions (M&A) at law firm King & Spalding, says that stabilization in the oil market has helped the industry M&A business to recover. Schlumberger and Weatherford are forming a joint venture to tackle the North American unconventionals oilfield services market. Merger and acquisition activity has been limited since prices started to fall in 2014. But there are signs that M&A activity may be building, and oil company management teams should think about which deal strategies they should pursue.
The TWA Forum editors discuss with experts about what is driving the market, and how to prepare yourself if you are employed on either side of a M&A transaction. This article discusses the relationship between commodity prices and M&A activities and explores what drives corporate acquisitions. While the industry copes with falling prices, M&A activity is likely to be hot. Most investment banks now value engineering expertise. Could banking be part of your future?
As capital markets dry up and shale producers look for pathways to growth, oil and gas data analytics firm Enverus predicts the US sector will see a “surge” in mergers and acquisitions in 2020. The current M&A market is characterized by an increase in private capital, geographical diversity, and a variety of transaction types, including joint ventures and royalty deals.
As capital markets dry up and shale producers look for pathways to growth, oil and gas data analytics firm Enverus predicts the US sector will see a “surge” in mergers and acquisitions in 2020. The current M&A market is characterized by an increase in private capital, geographical diversity, and a variety of transaction types, including joint ventures and royalty deals. What Happened to all the E&P Deal-Making? One of last year’s big stories in the industry was consolidation among several of the larger upstream operators. But deal activity has fallen off in recent months.
The success or failure of a M&A deal hinges on how well the two involved companies can integrate. What are the main drivers for a successful integration? Andy Rogers, vice president of business development at Encana, shares his thoughts on the current state of the industry and provides career advice to young professionals amid the A&D landscape. Be it the price downturn or the big crew change, communication skills can help young professionals ride the wave of change—and other valuable advice from industry leader Fayaz Jamal of Woodside Energy. Mark Ellis, CEO of Linn Energy, shares the details of his journey from being a petroleum engineer to becoming a CEO and an M&A market leader.
An economic downturn and global pandemic are among many issues US midstream operators are dealing with in 2020, including exposure to upstream bankruptcies, limited M&A activity, and regulatory issues. What will 2020 look like for the oil and gas, energy, and petrochemical markets? Here are 10 observations from ADI Analytics that demonstrate just how global and complex the energy mix has become. After a planned acquisition of Goodnight fell through, private equity firm Tailwater Capital is boosting its total investment in the water midstream company to more than $500 million. Goodnight recently signed five long-term contracts with producers in the Delaware Basin and the Bakken.
The merger will effectively end the 86-year run of UK independent oil producer Premier Oil and give rise to one of the largest companies operating in the North Sea region. The two shale producers are calling it a “merger of equals” and will share management duties once the transaction closes. The combined company aims to become the fourth-largest producer of tight oil in the US. The all-cash deal bucks a recent trend of international oil companies divesting of Canadian assets and adds 15,000 B/D of production to the buyer’s total. As capital markets dry up and shale producers look for pathways to growth, oil and gas data analytics firm Enverus predicts the US sector will see a “surge” in mergers and acquisitions in 2020.
Chevron’s $50-Billion Purchase of Anadarko Will Create "Ultra-Major" Chevron’s $50-billion purchase of Anadarko will make it the second-place ultra-major, behind ExxonMobil. Schlumberger and Subsea 7 want to form a joint venture that builds on their 2-year collaboration in the subsea sector. Avoiding debt problems and maintaining high-quality operations have kept Frank Lodzinski’s companies going through thick and thin. The merger of industrial giant GE and oilfield services firm Baker Hughes closed on 3 July, creating the second-largest oil field services firm in the world.