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Acquisitions and Divestitures News

Erin Enters into a Farm-Out Deal with FAR for Gambia Blocks
Gambia >> 3/27/2017 - Erin Energy Corporation (Erin Energy or the Company) has entered into a definitive farm-out agreement with FAR Ltd. (FAR), an Australian Securities Exchange listed oil and gas company, whereby FAR wil...
Marubeni to Participate in Gas-Fired Power Plant in Jamaica
Jamaica >> 3/24/2017 - Marubeni Corporation (Marubeni) is pleased to announce its participation in the Old Harbour gas-fired power station (Old Harbour Project) in Jamaica through its 40% interest in the Jamaica Public Serv...
Shell Divests Gabon Onshore Interests for $587 Million
Gabon >> 3/24/2017 - Royal Dutch Shell plc (Shell), through its affiliates, has reached an agreement with Assala Energy Holdings Ltd. a portfolio company of The Carlyle Group, to sell 100 percent of its Gabon onshore inte...
Azinor Catalyst Offers Two Licences in UKCS 29th Licensing Round
United Kingdom >> 3/24/2017 - Azinor Catalyst (Catalyst), the Seacrest Capital Group-backed E&P company focused on the United Kingdom Continental Shelf (UKCS), has been awarded two operated licences, comprising 10 blocks, on the U...
Steam Oil Offers four Blocks in 29th UKCS Seaward Licensing Round
United Kingdom >> 3/23/2017 - On the 23rd of March 2017 the Oil and Gas Authority announced the results of the 29th Seaward Licensing Round. The Steam Oil Production Company had applied for four part blocks surrounding the Pilot f...
Pengrowth to Sell Bernadet Montney Lands for $92 Million
Canada >> 3/23/2017 - Pengrowth Energy Corporation has entered into an agreement for the sale of its non-producing Montney lands at Bernadet in North East British Columbia for cash consideration of $92 million. ...
Statoil Awarded New UK Exploration Licences
United Kingdom >> 3/23/2017 - Statoil was awarded six UK licenses, five as operator and one as partner, in the 29th Offshore Licensing Round, announced by the Oil and Gas Authority (OGA) today. ...
Statoil Awards 13 Leases in US Gulf of Mexico
United States >> 3/23/2017 - Statoil resets its exploration in the Gulf of Mexico and was today deemed high bidder on 13 leases in the 2017 Central Lease Sale. Statoil successfully bid on 13 leases in the US Department of the Int...
Sinopec Buys First Major Refinery in Africa from Chevron
South Africa >> 3/22/2017 - China's Sinopec will pay almost $1 billion for a 75 percent stake in Chevron Corp's South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies anno...
Update on Acquisition of Wytch Farm, Scott & Telford Interests
United Kingdom >> 3/22/2017 - RockRose Energy announced on 22nd December 2016 that it had signed sale and purchase agreements with Maersk Oil North Sea UK to acquire its non-operated interests in the Wytch Farm, Scott and Telford ...
Eni Awarded Two New Blocks Offshore Ivory Coast
Ivory Coast (Cote D'Ivoire) >> 3/22/2017 - Eni has obtained majority stakes in two new exploration blocks off the shore of the Ivory Coast. The two blocks are located approximately 50 km from the country’s coastline. ...
Successful GoM Lease Sale 247 Yields $275 Million in High Bids
United States >> 3/22/2017 - U.S. Secretary of the Interior Ryan Zinke announced that Lease Sale 247 for oil and gas parcels in the Gulf of Mexico garnered $274,797,434 in high bids for 163 tracts covering 913,542 acres in the Ce...
Gastar Exploration Acquires STACK Leasehold
United States >> 3/22/2017 - Gastar Exploration Inc. (Gastar) has completed the acquisition of additional working and net revenue interests in approximately 66 gross (9.5 net) producing wells and 5,670 net acres of additional STA...
Birchcliff Announces Sales for Charlie Lake Light Oil Resource
Canada >> 3/21/2017 - Birchcliff Energy Ltd. (BIR) announced that it will pursue the sale of its oil and natural gas properties and related assets on the Charlie Lake Light Oil Resource Play located in the Peace River Arch...
Marathon Oil Acquires $700 Million Northern Delaware
United States >> 3/21/2017 - Marathon Oil Corporation announced the signing of a definitive agreement to acquire approximately 21,000 net surface acres largely in the Permian's Northern Delaware basin of New Mexico from Black Mou...
Pengrowth to Sell North Central Alberta Properties for $180 Million
Canada >> 3/20/2017 - Pengrowth Energy Corporation (Pengrowth) has entered into an agreement for the sale of a portion of its Swan Hills assets in North Central Alberta for total cash consideration of $180 million, subject...
Sinopec Nears Deal to Buy Chevron's South African Assets
South Africa >> 3/17/2017 - China's Sinopec is nearing a deal to buy Chevron's South African oil assets for up to $1 billion (807.1 million pounds) to secure its first major refinery on the continent, several people familiar wit...
Major Concerns over Possible Forties Pipeline Sale to Ineos
United Kingdom >> 3/17/2017 - Unite the union has expressed serious concerns over the possible sale of the Forties Pipeline System from BP to Ineos. Unite was involved in two major disputes with Ineos over the treatment of workers...
CNOOC Exercises its Pre-Emption Rights in Respect of Farm Down to Total
Uganda >> 3/17/2017 - On 9 January 2017, Tullow Oil plc (Tullow) announced that it had agreed to farm-down 21.57% of its 33.33% interests in Exploration Areas 1, 1A, 2 and 3A in Uganda to Total E&P Uganda B.V. (Total) for ...
Oil Basins Withdraws from EP487 Derby Block
Australia >> 3/16/2017 - The Directors of Oil Basins Limited (OBL) wish to advise that OBL has decided to effectively withdraw from its position as a 50% Joint Venture Partner in EP487 (Derby Block). Rey Resources Limited (RE...

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