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Oil, gas execs see appetite for M&A; Phillips 66 closes drop-down deal

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


Oil, gas execs see appetite for M&A; Phillips 66 closes drop-down deal

Natural gas/midstream M&A

Upstream M&A lagging despite oil, gas execs' expectations for consolidation

Oil and gas executives are optimistic that M&A activity will accelerate soon, but the ball has yet to start rolling in the exploration and production segment.

Phillips 66 closes drop-down of stake in Dakota Access company

Phillips 66 Partners LP closed the drop-down deal with its parent company Phillips 66 Co., successfully acquiring a 25% interest in each of Dakota Access LLC and Energy Transfer Crude Oil Co. LLC, together known as the Bakken Pipeline.

Sempra's IEnova unit to boost stake in Mexico gas pipeline for $520M

Infraestructura Energetica Nova SAB de CV, or IEnova, acquired an additional indirect participation in the Los Ramones II Norte gas pipeline for $520 million, a move that will boost its stake to 50% from 25%.

Chaparral Energy to sell certain enhanced oil recovery assets for $170M

Chaparral Energy Inc. agreed to sell its North Burbank and Texas Panhandle enhanced oil recovery assets to an undisclosed buyer for $170 million, plus certain contingent payments, in a deal that "marks a major milestone" in the company's transition to a pure-play STACK operator.

Brookfield to buy energy infrastructure investment firm

Brookfield Asset Management Inc.'s Public Securities Group agreed to acquire the Center Coast Capital Advisors LP affiliate Center Coast Capital Holdings LLC, an investment adviser focused on energy infrastructure.

Texas company acquires Delaware Basin gas gathering assets from Callon Petroleum

Brazos Midstream Holdings LLC completed an acquisition of a natural gas gathering system in the southern Delaware Basin from Callon Petroleum Co., a deal expected to boost Brazos' total operated processing capacity to 260 MMcf/d.

Atwood Oceanics, Ensco complete merger

The offshore drillers Atwood Oceanics Inc. and Ensco plc completed their merger, under which Atwood became a wholly owned subsidiary of Ensco. The deal completion followed Atwood shareholders' approval of the merger agreement.

Comstock Resources, USG Properties Haynesville expand joint venture

Comstock Resources Inc. expanded its joint development venture with USG Properties Haynesville LLC. Comstock has the right to participate for a 25% working interest in the wells on USG's acreage, with the option to increase working interest participation in future wells.

Ansteel to give 8.98% stake in listed unit to PetroChina

Angang Steel Co. Ltd.'s state-owned parent Angang Group plans to transfer a 8.98% stake, or 650,000,000 A shares in the listed unit, to China National Petroleum Corp., at no cost.