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Stanmore extends life of Isaac Plains; Equinor buys 25% stake in Roncador field

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Global M&A By the Numbers: Q3 2021

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Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

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Insight Weekly Labor market recovery hurdles power market integration nonbank MA hunt

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Q&A: Q2'21 Power Forecast: Overheated Power Markets are Here – Who Wins, Who Loses, and Why?


Stanmore extends life of Isaac Plains; Equinor buys 25% stake in Roncador field

Coal M&A

Stanmore Coal extends life of Isaac Plains with A$30M buy of Wotonga South

Stanmore Coal Ltd. expanded its Isaac Plains complex in Queensland, Australia, with the acquisition of two tenements that include the Wotonga South coking coal deposit for A$30 million, the company said June 12.

Chinese investment in Australian mining to rise; fewer executives feel welcome

Chinese investment is expected to continue in Australia's mining sector, which bucked the 2017 trend when the Asian giant's global overseas direct investment fell 29% amid broader concerns among Chinese executives of feeling increasingly "unwelcome" Down Under.

Natural gas/midstream M&A

Equinor further expands position in Brazil, buys 25% stake in Roncador field

Equinor, formerly Statoil ASA, continues to expand its position in Brazil, completing the purchase of a 25% nonoperated interest in the Petroleo Brasileiro SA, or Petrobras, Roncador oil field in the Campos Basin.

Concho Resources prices $1.6B senior notes offering

Concho Resources Inc. priced its offering of its senior unsecured notes totaling $1.6 billion, with proceeds to be used for its pending $9.5 billion all-stock merger deal, according to a June 14 news release.

Saudi Aramco's downstream US expansion options limited as valuations may rise

As Saudi Arabian Oil Co. eyes global downstream expansion to fuel its growth, its options to do so in the U.S. through its Motiva Enterprises LLC subsidiary may be limited at a time when asset valuations may increase, experts say.

SandRidge claims interest from 17 companies, but 1 cries foul

SandRidge Energy Inc. has been contacted by 17 potential buyers, with activist investor Carl Icahn among them, the oil and gas producer announced June 15. One of the bidders, however, accused SandRidge of mischaracterizing the nature of their negotiations.

Alberta oil producers Baytex, Raging River to form C$5B company

The Calgary, Alberta-based energy producers Baytex Energy Corp. and Raging River Exploration Inc. agreed to merge into a single C$5 billion oil-focused company operating under Baytex's name.

Hong Kong's CK Asset offers to buy Australia's APA Group under A$13B scheme

A consortium of CK Asset Holdings Ltd. and three of its subsidiaries is offering to buy Australia-listed natural gas infrastructure business APA Group for a cash consideration of A$11.00 per security.

Iron Bridge recommends shareholders throw out Velvet Energy takeover offer

Iron Bridge Resources Inc.'s board of directors recommended that its shareholders reject its Velvet Energy Ltd.'s buyout offer, unanimously concluding that the proposed deal is not in their best interest.

Finland sells 5% stake in Neste for €861M

The Finnish government said June 13 that it has completed the sale of 12.8 million shares of Neste Oyj, representing 5% of the total shares of the company, priced at €67.27 per share for a total of €861 million.

Transocean to retire 4 rigs, expects Q2 hit of $520M

Transocean Ltd. said it intends to retire four rigs and place them in hold for sale and is looking to identify additional rigs to retire as the company considers the long-term competitiveness of its fleet.

Paramount Resources to sell Alberta assets to private producer for C$340M

Paramount Resources Ltd. agreed to sell its oil and gas properties in the Kakwa region of western Alberta to the private producer Strath Resources Ltd. for C$340 million in total consideration.

Pioneer Natural Resources to sell Raton Basin assets in Colorado for $79M

The Texas-based oil and gas producer Pioneer Natural Resources Co. agreed to sell all its assets in the Raton Basin in southeastern Colorado to the privately held Evergreen Natural Resources LLC for $79 million.

LyondellBasell in talks to acquire Odebrecht's stake in Braskem

Chemicals and refining company LyondellBasell Industries NV has entered into exclusive talks with Odebrecht SA on a possible acquisition of the Brazilian construction company's controlling stake in Braskem SA.