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Largest deal terminations in last 5 years; investors hike holdings in Exxon, BP

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COVID-19 Impact & Recovery: Energy Outlook for H2 2021

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US utility commissioners: Who they are and how they impact regulation

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Climate Credit Analytics: Linking climate scenarios to financial impacts

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Essential Energy Insights, April 2021


Largest deal terminations in last 5 years; investors hike holdings in Exxon, BP

Natural gas/Oil M&A

Chevron/Anadarko breakup is one of the largest deal terminations in last 5 years

Chevron Corp.'s $52 billion deal for Anadarko Petroleum Corp. was on course to be the biggest upstream oil and gas deal of the decade. But Occidental Petroleum Corp.'s late negotiating and superior bid for Anadarko created one of the biggest breakups the energy industry has seen.

Investors hike holdings in Exxon, BP in Q1 but dump Shell, Equinor shares

In the first quarter, large investors increased their net holdings in oil majors Exxon Mobil Corp., BP PLC, Chevron Corp. and TOTAL SA, but they reduced ownership in Royal Dutch Shell PLC and Equinor ASA, according to filings with the U.S. Securities and Exchange Commission.

ConocoPhillips CEO explains need for industry reset: We've 'destroyed value'

Investor displeasure has forced oil and gas producers to permanently change their way of doing business, ConocoPhillips CEO Ryan Lance said May 23.

Private equity-backed oil, gas company buys Anadarko Basin assets

Private equity-backed Red Wolf Natural Resources LLC purchased about 56,000 total net acres and related production in the SCOOP, STACK and Merge plays in the Anadarko Basin of Oklahoma.

E&P firm Roan Resources hires advisers to evaluate merger, takeover offers

Oklahoma-based oil and gas company Roan Resources Inc. disclosed May 20 that it has engaged Citigroup Global Markets Inc. and Jefferies LLC to assist in evaluating strategic alternatives following indications of interest for a potential acquisition of the company.

Report: TOTAL to sell a part of its stake in Kashagan oil field

TOTAL SA is looking to sell a third of its stake in Kazakhstan's Kashagan oil field to raise up to $4 billion, Reuters reported May 24, citing four banking sources.

WPX Energy closes $350M sale of Oryx II pipeline stake

A subsidiary of oil and gas producer WPX Energy Inc. and its joint venture partner closed the sale of Oryx Midstream Services LLC's Oryx II pipeline to Stonepeak Partners LP, as part of the investment firm's acquisition of Oryx's crude oil transportation assets in the Permian Basin.

Report: Carlyle looks to sell 25% stake in US oil export terminal for $625M

Carlyle Group LP is aiming to divest a 25% stake in its crude oil export terminal in Corpus Christi, Texas, for $625 million, Reuters reported, citing a source familiar with the matter.

Observers skeptical of reports of interest in QEP Resources

QEP Resources Inc. has been on the market for three months with limited interest, a company up for sale in an environment where oil and gas M&A activity is being frowned upon.

Report: Cynergy to spend $5B to $10B buying gas assets in eastern Mediterranean

Cyprus-based investment firm Cynergy Group plans to spend between $5 billion and $10 billion in the next few years buying under-utilized natural gas assets in the eastern Mediterranean region, Bloomberg reported, citing comments made by the company's CEO Mike Germanos.

Report: BP nears sale of stake in Egyptian oil company to Dragon Oil

BP PLC is nearing the sale of its stake in the Gulf of Suez Petroleum Co. to Dubai's Emirates National Oil Co. Ltd. (ENOC) LLC subsidiary Dragon Oil PLC, according to a May 23 report from Reuters, citing unnamed sources.

CVR Energy evaluating 'strategic alternatives,' sells Cushing terminal for $36M

CVR Energy Inc. is evaluating potential strategic alternatives, which include a possible sale, tapping Bank of America Merrill Lynch to serve as its financial adviser. The company also announced that a subsidiary entered into an agreement with an unnamed affiliate of Plains All American Pipeline LP to sell its 1.5 million-barrel Cushing, Okla., crude oil terminal and related assets for $36 million.

Riviera Resources to divest Mich. properties for $44.5M

Houston-based independent oil and natural gas company Riviera Resources Inc. will sell its interest in properties located in Michigan to an undisclosed buyer for $44.5 million.

Tullow Oil unit to buy stake in Namibian offshore block

Tullow Oil PLC subsidiary Tullow Namibia Ltd. has entered into an initial agreement to acquire the interest of Australia's Calima Energy Ltd. in the Namibia PEL 90 license for US$12 million.

Coal M&A

To reduce coal exposure, BNP Paribas cuts ties with Polish electricity producers

BNP Paribas SA will no longer finance electricity producers in Poland because of their dependence on the coal industry, Laurence Pessez, the bank's head of corporate social responsibility, said May 23.