A wave of oil and gas ‘megamergers’ across the pond could be coming our way, as Europe’s supermajors – focused in recent years on a tilt to investment in renewables and ESG concerns – look to fill their future reserves through large acquisitions.
Analysts welcome positives of the US buyout of the UK-based drill rig firm which brings a beneficial market share in the Middle East.
Subsea equipment specialist Ashtead Technology (AIM: AT.) aims to continue its ongoing mergers and acquisition (M&A) strategy after it helped deliver strong results for the company in 2023.
A murky picture has been laid out for North Sea M&A deals in the months ahead, as a general election, lack of private capital and the near-extinction of IPOs have muddied the waters.
There are several “deals to watch” in the UK North Sea in 2024 as a general election looms and companies reshuffle their positions.
“The first target has an NPV of $4bn, for a $30mn well. We know it’s frontier exploration and the chance of success is maybe 20%, but it stands up.”
Analyst firm Wood Mackenzie has predicted more firms could exit the UK North Sea in 2024.
The profitability of oil and gas versus the excitement for renewables is creating an interesting dynamic for investors across the energy industry.
OCI said in November it had hired advisers to explore asset monetization opportunities in an attempt to reduce its holding company discount. It said at the time it was in “active discussions” on “attractive value propositions.”
With many of the best production sites already tapped, companies flush with cash from the post-pandemic run-up in oil prices are increasingly buying rivals to secure new places to drill.
Conoco is not alone in its pursuit of CrownRock, though.
The deal is apt to face tough antitrust scrutiny from the Federal Trade Commission.
Despite considerable pressures on offshore wind and a hostility towards oil and gas, appetite for dealmaking in the services sector remains high.
The separation from SNC-Lavalin is complete, and the team at Kent are reflecting on why and how the programme was delivered, not without pain, but ultimately successfully.
A new McKinsey report finds that more than 50% of upstream oil and gas M&A deals don’t create shareholder value and firms eyeing takeovers and acquisitions should focus on synergies rather than cost-cutting.
Viaro Energy has agreed to buy the majority stake in a series of North Sea fields from Hartshead Resources (ASX: HHR) in a "landmark" A$196.3m (£105m) deal.
The NSTA is proposing new rules to streamline industry deals and boost energy security.
Wentworth held its vote yesterday, with 75.26% of shares voted in favour of the scheme. The deal required 75% approval.
There are claims Westminster’s fiscal interventions have made the UK “one of the most unstable economies” for energy investments.
Industry leaders have accused politicians of scaring off energy investment and growth by turning the sector into a “pariah”.
Palliser has suggested that Capricorn should return at least $535 million to shareholders.
Renewable energy M&A deal value in Asia Pacific increased by 11% year-on-year to $19 billion in 2022, primarily due to a surge in onshore wind and geothermal merger and acquisition activity.
AAB Corporate Finance is delighted to share with you our Deals Update for H2 2022 in conjunction with Energy Voice, highlighting selected energy merger and acquisition (M&A) and fundraising transactions across the UK.
Underscoring the rising interest in Southeast Asia’s upstream market, North Sea-focused E&P company Longboat Energy (AIM:LBE), confirmed it is “exploring opportunities to broaden its strategic remit” in the region.
Despite the above-surface challenges, Indonesia's subsurface oil and gas potential remains attractive. More upstream M&A is on the cards as majors, independents and NOCs reshuffle their portfolios.