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Acquisitions and Divestitures News

BP Agrees Sale of Wytch Farm to Perenco UK Limited
United Kingdom >> 5/17/2011 - BP announced that it has agreed to sell its interests in the Wytch Farm, Wareham, Beacon and Kimmeridge fields to Perenco UK Ltd for up to $610m in cash. The price includes $55m contingent on Perenco'...
Completion of Blane Oil Field Acquisition
United Kingdom >> 5/17/2011 - Faroe Petroleum plc, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic Margin, the North Sea and Norway, is pleased to ann...
Enerplus to Sell Non-Operated Marcellus Interests
United States >> 5/16/2011 - Enerplus Corporation is pleased to announce that we have entered into an agreement to sell a portion of our Marcellus natural gas interests in Pennsylvania, Maryland and West Virginia for estimated pr...
Arbitration Proceedings Against Ugandan Government
Uganda >> 5/16/2011 - Heritage Oil Plc, an independent upstream exploration and production company, announces that international arbitration proceedings have been commenced against the Government of the Republic of Uganda ...
BHP Billiton Exercises Option to Farm into SC 55
Philippines >> 5/11/2011 - Otto Energy Ltd is pleased to announce that BHP Billiton has exercised the option to farm-in to Service Contract 55 (SC55). Subject to joint venture and regulatory approval, BHP Billiton will earn up ...
EnQuest to Acquire Stake in Crawford and Porter Dev
United Kingdom >> 5/10/2011 - EnQuest PLC is pleased to announce a farm in agreement with Fairfield Acer Limited (Fairfield) for UKCS Block 9/28a - Area B, which contains the Crawford oil field and the 9/28a -18 Porter oil discove...
BP Gets Approval to Complete Purchase of E&P Blocks
Brazil >> 5/10/2011 - BP announced it has received final approval to complete the purchase of ten exploration and production blocks in Brazil from Devon Energy. The regulatory approvals from the Brazilian National Petroleu...
Azerbaijan Parliament Ratifies Shafag-Asiman PSA
Azerbaijan >> 5/10/2011 - On May 6, the Parliament of the Republic of Azerbaijan ratified the new production sharing agreement (PSA) between BP and SOCAR on joint exploration and development of the Shafag-Asiman structure in t...
Linn to Acquire Texas Panhandle and Okla. Properties
United States >> 5/9/2011 - LINN Energy, LLC announced that it signed a definitive purchase agreement with Panther Energy Company, LLC and Red Willow Mid-Continent, LLC to acquire 40 percent of their oil and natural gas properti...
Hardy Oil and Gas Holds Firm on D3 Stake
India >> 5/6/2011 - Hardy Oil and Gas plc, the oil and gas exploration and production company with assets in India, announces that it has elected not to exercise an option to increase its participating interest, by three...
Oranje-Nassau Energie Acquires Q16a License from NAM
Netherlands/Holland >> 5/6/2011 - Oranje-Nassau Energie B.V. (ONE) is pleased to announce that it has agreed with the Nederlandse Aardolie Maatschappij B.V. (“NAM”, a 50/50 Shell & ExxonMobil joint venture) to acquire NAM’s 41,7% inte...
Major Nigerian Acquisition Opportunity
Nigeria >> 5/6/2011 - Kulczyk Oil Ventures Inc. (KOV) is pleased to announce that it joined the Neconde Energy Limited (Neconde) consortium. On April 29, 2011, Neconde entered into an Agreement for Assignment (AFA) and var...
Nautical Acquires a 15% Interest in Kraken Discovery
United Kingdom >> 5/6/2011 - Nautical Petroleum plc is pleased to announce that it has signed an agreement to acquire a further 15% interest in the UKCS Licence P1077 Block 9/2b, which includes the Kraken discovery, from Canamens...
Rosneft Acquires 50% of Ruhr Oel GmbH
Venezuela >> 5/5/2011 - Rosneft announced that it has closed its acquisition of 50% of Ruhr Oel GmbH from the Venezuelan state oil company Petroleos de Venezuela S.A. (PDVSA). ...
Kinder Purchases Midstream, Build Crude/Condensate PL
United States >> 5/5/2011 - Kinder Morgan Energy Partners, announced it has entered into a definitive agreement to pay approximately $855 million to Petrohawk Energy Corporation and assume approximately $65 million in debt for P...
ANP-STP Awards Block 3 to Oranto Petroleum
Sao Tome and Principe >> 5/4/2011 - In the light of the First Licensing Round and following the evaluation of all the applications submitted, including the necessary due diligence undertaken by the authorities. The National Petroleum Ag...
Chevron Acquired Marcellus Shale Acreage
United States >> 5/4/2011 - Chevron Corporation has announced that it has agreed to acquire oil and gas assets, primarily 228,000 net leasehold acres, in the Marcellus Shale from Chief Oil & Gas LLC and Tug Hill, Inc. Terms of t...
ROC Sells Remaining Interest in Cabinda South Block
Angola >> 5/2/2011 - Lacula Oil Company Limited, a wholly owned subsidiary of ROC, has agreed to sell its remaining 10% interest in the Cabinda Onshore South Block, Angola, to Pluspetrol Angola Corporation (Pluspetrol), a...
Lukoil Acquires a 50% Stake in HT-02 Offshore Block
Vietnam >> 4/29/2011 - LUKOIL Overseas (a 100% subsidiary of OAO LUKOIL) has acquired from Quad Energy S.A., a private petroleum company, a 50% interest in the Production Sharing Agreement for the Hanoi Trough-02 (HT-02) of...
Petroceltic Agreed Sale of 18.375% of Isarene Block
Algeria >> 4/28/2011 - Petroceltic International plc, the independent oil & gas exploration company focused on the Middle East, North Africa and Mediterranean region, is pleased to announce the sale, subject to the satisfac...

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