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Ensco to Acquire Atwood Oceanics for $839 Million
June 9, 2017
UK-based offshore driller Ensco has agreed to acquire US rival Atwood Oceanics in an all-stock transaction valued at about $839m. Under the terms of the merger deal, Ensco will give Atwood shareholders 1.60 of its shares, valued at $10.72 per
Yuma Energy Sells Certain Non-Core Oil and Gas Properties in Texas for $5.5 Million
June 9, 2017
Yuma Energy, Inc. has sold certain oil and gas properties for $5.5 million located in Brazos County, Texas held by a wholly owned subsidiary and known as the El Halcón property. Yuma’s El Halcón property consisted of an average working
Tall Oak Midstream Expands Natural Gas Gathering, Processing Footprint in Oklahoma’s STACK Play
June 9, 2017
Tall Oak Midstream II, LLC has executed an aggressive growth plan to meet producers’ natural gas and crude gathering needs in Oklahoma’s Northwest STACK play. The buildout of Tall Oak’s Midcon System will span seven counties in northwest Oklahoma: Alfalfa,
SemGroup to Acquire Houston Fuel Oil Terminal for $2 Billion
June 9, 2017
SemGroup has entered into an agreement to acquire Houston Fuel Oil Terminal (HFOTCO) from investment funds managed by Alinda Capital Partners for about $2.1bn. Strategically located on the US Gulf Coast, the 16.8 million barrel terminal has pipeline connectivity to
Oil and Gas Industry Drives Alaska Economy
June 9, 2017
For decades the oil and gas industry has been a lifeline for Alaska, and even though oil prices are down, the industry continues to drive Alaska’s economy. “Between 2015 and 2016, the Alaska economy has lost about 6,500 jobs,” said
Halliburton, Trendsetter and C-Innovations Form Gulf of Mexico Subsea Alliance
June 9, 2017
Halliburton, Trendsetter Engineering and C-Innovations have formed a strategic alliance to provide Gulf of Mexico (GOM) customers with technologically advanced, integrated offshore well intervention packages. The alliance leverages the companies’ strengths to create subsea solutions for hydraulic interventions. The combined
Saudi Aramco to Invest $18 Billion to Expand Activities in North and South America
June 9, 2017
Saudi Arabian state-run oil company Saudi Aramco is planning to invest $18bn in the next five years to expand its operations in the Americas. The plans were revealed by Motiva Enterprises, a wholly-owned affiliate of Saudi Aramco, headquartered in Houston,
European Commission Approves GE’s Acquisition of Baker Hughes
June 6, 2017
The European Commission has approved General Electric’s (GE) purchase of oilfield services company Baker Hughes without any conditions. The EC said that the $1.7bn merger deal between the firms will not have any adverse affect on competition in relevant markets.
New Pipeline Starts Operations in Bakken/Three Forks Production Areas, North Dakota
June 6, 2017
Two new pipelines that cost $4.78bn to build started services, transporting domestic crude oil from the Bakken/Three Forks production areas in North Dakota, US. The Dakota Access pipeline (Dakota Access) and the Energy Transfer Crude Oil Pipeline (ETCO), collectively the
Westwood Global Energy Acquires Houston-based Energent Group Software
June 5, 2017
Westwood Global Energy Group, the private equity-backed group of energy research, analysis and consulting companies, has acquired Houston-based market research firm, Energent Group Software LLC. Westwood’s strategic vision is to create best-in-class solutions for its customers. The addition of Energent’s
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