Mergers and Acquisitions

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Upstream Oil and Gas Dealmaking Down in Third Quarter as Oil Prices Stayed Low

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

(Reuters) – Persistently weak crude prices pressured merger and acquisition activity in the U.S. upstream oil and gas sector in the third quarter, analytics firm Enverus said on Wednesday. Dealmaking fell for the third straight quarter as U.S. crude futures averaged around $65 a barrel during the July through September period, around the level producers …

Upstream Oil and Gas Dealmaking Down in Third Quarter as Oil Prices Stayed Low Read More »

CenterPoint to Sell Ohio Natural Gas Distribution Business for $2.62 Billion

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Oct 21 (Reuters) – CenterPoint Energy (CNP.N) will sell its natural gas distribution unit in Ohio to National Fuel Gas (NFG.N) for $2.62 billion, as the U.S. utility focuses on its core regulated electric and gas operations in other states. Shares of distribution company National Fuel fell 4.7% in morning trade on Tuesday and that …

CenterPoint to Sell Ohio Natural Gas Distribution Business for $2.62 Billion Read More »

Chart Industries Backs Sale to Baker Hughes for $13.6 Billion

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Oct 6 (Reuters) – Chart Industries (GTLS.N) said on Monday that its shareholders voted to approve the company’s acquisition by Baker Hughes (BKR.O). In July, Baker Hughes said it would buy Chart Industries in a $13.6 billion all-cash deal, including debt, topping a previously agreed merger offer that Chart struck with rival Flowserve (FLS.N). Chart …

Chart Industries Backs Sale to Baker Hughes for $13.6 Billion Read More »

Warren Buffet’s Berkshire Hathaway to Acquire Occidental’s OxyChem for $9.7 Billion

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Berkshire Hathaway has reached a definitive agreement to acquire Occidental Petroleum’s chemical business, OxyChem, in an all-cash transaction valued at $9.7 billion. The sale, expected to close in the fourth quarter of 2025 pending regulatory approvals, represents one of the largest U.S. petrochemical transactions in recent years. Vicki Hollub, CEO of Occidental Occidental said it …

Warren Buffet’s Berkshire Hathaway to Acquire Occidental’s OxyChem for $9.7 Billion Read More »

Global Energy Layoffs Deepen in 2025 as Crude Prices Weaken, M&A Deals Surge

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

September 30 – Global energy majors and related companies plan to slash more jobs in 2025, after cutting thousands last year, as the industry navigates weaker crude oil prices and a rapid consolidation. Benchmark Brent crude futures are down about 10.5% year-to-date, impacted by increased OPEC+ output and persistent demand uncertainty tied to the U.S. …

Global Energy Layoffs Deepen in 2025 as Crude Prices Weaken, M&A Deals Surge Read More »

Berkshire in Talks to Buy Occidental’s OxyChem for About $10 Billion, WSJ Reports

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(Reuters) – Berkshire Hathaway is in talks to buy Occidental Petroleum’s petrochemical unit for about $10 billion, the Wall Street Journal reported on Tuesday citing people familiar with the matter. The potential sale of the OxyChem unit, which supplies products used in sectors such as medical care, food security and construction, would add to a …

Berkshire in Talks to Buy Occidental’s OxyChem for About $10 Billion, WSJ Reports Read More »

Chevron Expects up to $400 Million Quarterly Impact from Hess Deal

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Chevron said on Thursday it was expecting a loss of $200 million to $400 million in the third quarter due to the impact related to the acquisition of Hess. Chevron closed its $55 billion buyout of Hess in July after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery …

Chevron Expects up to $400 Million Quarterly Impact from Hess Deal Read More »

Chord Energy to Buy Assets in Williston Basin for $550 Million

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(Reuters) – U.S energy firm Chord Energy  said on Monday it would buy assets in the Williston Basin from Exxon Mobil’s unit XTO Energy for $550 million. The Williston Basin is located in parts of North Dakota, Montana and Canada, and is a major U.S. shale oil and gas region centered by the Bakken formation. The …

Chord Energy to Buy Assets in Williston Basin for $550 Million Read More »

MEG Energy Urges Investors to Reject Strathcona’s Sweetened Bid, Backs Cenovus Deal

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

(Reuters) – Canadian oil sands producer MEG Energy on Monday urged shareholders to reject the sweetened takeover bid from its majority stakeholder Strathcona Resources and reaffirmed support for sale to Cenovus Energy. “The revised Strathcona offer remains fundamentally unattractive,” said James McFarland, chair of MEG’s board, citing exposure to inferior assets, an overvalued Strathcona share price …

MEG Energy Urges Investors to Reject Strathcona’s Sweetened Bid, Backs Cenovus Deal Read More »

Cenovus ‘Closing the Door’ on Higher Bid For MEG Energy, Bloomberg News Reports

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(Reuters) – Cenovus Energy does not plan to increase its takeover offer for oil sands producer MEG Energy, despite a higher bid from Strathcona Resources, CEO Jon McKenzie told Bloomberg News in an interview on Wednesday. Reporting by Sumit Saha in Bengaluru; Editing by Krishna Chandra Eluri

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