Mergers and Acquisitions

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Carlyle, Chevron-Quantum Partnership Among Frontrunners for Lukoil Assets, Sources Say

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

(Reuters) – Private equity giant Carlyle, a group comprising oil major Chevron and Quantum Capital Group as well as UAE-based investor International Holding Company are competing for the global assets of Russia’s Lukoil as a U.S. deadline to sell them expires this week, sources said. The United States imposed sanctions on Lukoil and its peer …

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Vistra to Buy Cogentrix Energy in $4.7 Billion Deal Amid Surging Power Demand

Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, US News / By

Utility Vistra said on Monday it has agreed to buy Cogentrix Energy, comprising 10 natural gas-fired power plants, from Quantum Capital Group for about $4.7 billion, as it looks to meet growing power demand. Shares of the company rose nearly 5% in extended trading. The deal includes about $2.3 billion in cash, $900 million in …

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BP Nears Deal to Sell Majority Stake in Castrol to Stonepeak, WSJ Reports

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

BP is nearing a sale of a majority stake in its Castrol lubricants unit to investment firm Stonepeak in a deal that values the entire division at $10 billion, including debt, the Wall Street Journal reported on Tuesday. As part of the deal, BP is set to receive roughly $6 billion in proceeds from the …

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Alphabet to Buy Clean Energy Developer Intersect in $4.75 Billion Deal Amid AI Push

Artificial Inteligence, Electricity Grid, Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

Dec 22 (Reuters) – Alphabet (GOOGL.O) said on Monday it would buy clean energy developer Intersect for $4.75 billion in cash, plus assumed debt, as tech giants spend billions to expand the computing and power capacity necessary for developing artificial intelligence. Big Tech has ramped up investments in energy firms as U.S. power grids struggle …

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Japan’s JAPEX Buys US Tight Oil and Gas Assets in $1.3 Billion Deal

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

Japan Petroleum Exploration said on Thursday it will acquire Verdad Resources Intermediate Holdings LLC (VRIH), which owns tight oil and gas assets in the U.S. for $1.3 billion in its largest-ever deal. JAPEX will buy VRIH, which holds assets in Colorado and Wyoming, from Verdad Resources Feeder LLC using a mix of its own funds …

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EIG’s MidOcean Energy Completes Acquisition of Interest in Canada from PETRONAS

Energy Topics & Technology, Latest, Mergers and Acquisitions, Press Releases / By

LONDON–(BUSINESS WIRE)–MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its acquisition of a 20% interest in PETRONAS’ key entities in Canada. The transaction includes a 20% interest in the North Montney Upstream Joint Venture …

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US Investor Group Kimmeridge Offers $6 Billion for Gas Driller Ascent Resources, FT Reports

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

 Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the Financial Times reported on Tuesday. The bid is the latest challenge to Ascent’s private equity backer Energy & Minerals Group’s (EMG) efforts to sell a more than 30% stake in the company from one of its funds to …

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Exxon in Talks With Iraq About Buying Lukoil Stake in Giant West Qurna 2 Oilfield, Sources Say

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil / By

By Ahmed Rasheed and Aref Mohammed Lukoil seeks to sell assets due to U.S. sanctions West Qurna 2 is Lukoil’s largest foreign asset Exxon preferred by Iraq for West Qurna 2 takeover BAGHDAD, Dec 2 (Reuters) – Exxon Mobil (XOM.N) has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil’s …

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Exxon Joins Chevron in Pursuing Parts of Lukoil Global Empire, Sources Say

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

By Anna Hirtenstein, Shariq Khan and Jarrett Renshaw LONDON/NEW YORK, Nov 18 (Reuters) – U.S. oil major Exxon Mobil (XOM.N) has joined rival Chevron Corp (CVX.N) in considering options to buy parts of sanctioned Russian oil major Lukoil’s (LKOH.MM) international assets, sources familiar with the matter said. Exxon is considering options for Lukoil assets in …

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Repsol Weighs Merger of $19 Billion Upstream Unit With APA, Bloomberg News Reports

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

(Reuters) – Spain’s biggest refinery operator Repsol SA is considering a reverse merger of its upstream unit with potential partners, including U.S. energy producer APA, Bloomberg News reported on Thursday, citing people with knowledge of the matter. APA shares were up 7.1% at $25.59. Repsol in 2022 entered into a deal to sell a 25% …

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