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Acquisitions and Divestitures News

Pengrowth to Sell North Central Alberta Properties for $180 Million
Canada >> 3/20/2017 - Pengrowth Energy Corporation (Pengrowth) has entered into an agreement for the sale of a portion of its Swan Hills assets in North Central Alberta for total cash consideration of $180 million, subject...
Sinopec Nears Deal to Buy Chevron's South African Assets
South Africa >> 3/17/2017 - China's Sinopec is nearing a deal to buy Chevron's South African oil assets for up to $1 billion (807.1 million pounds) to secure its first major refinery on the continent, several people familiar wit...
CNOOC Exercises its Pre-Emption Rights in Respect of Farm Down to Total
Uganda >> 3/17/2017 - On 9 January 2017, Tullow Oil plc (Tullow) announced that it had agreed to farm-down 21.57% of its 33.33% interests in Exploration Areas 1, 1A, 2 and 3A in Uganda to Total E&P Uganda B.V. (Total) for ...
Major Concerns over Possible Forties Pipeline Sale to Ineos
United Kingdom >> 3/17/2017 - Unite the union has expressed serious concerns over the possible sale of the Forties Pipeline System from BP to Ineos. Unite was involved in two major disputes with Ineos over the treatment of workers...
Oil Basins Withdraws from EP487 Derby Block
Australia >> 3/16/2017 - The Directors of Oil Basins Limited (OBL) wish to advise that OBL has decided to effectively withdraw from its position as a 50% Joint Venture Partner in EP487 (Derby Block). Rey Resources Limited (RE...
Pioneer Sells Northeastern Martin County Acreage for $266m
United States >> 3/15/2017 - Pioneer Natural Resources Company (Pioneer) has signed a purchase and sale agreement with an undisclosed buyer to sell its previously-announced acreage package in northeastern Martin County, Texas, fo...
Energean Signs Concession Contract for Two Blocks in Montenegro
Albania >> 3/15/2017 - Energean Oil & Gas (Energean) has signed an exploration and production Concession Contract with the State of Montenegro covering offshore blocks 4219-26 and 4218-30, following approval from the Parlia...
Europa Oil & Gas Re-Assigns Licence Interest to Arenite Petroleum
United Kingdom >> 3/14/2017 - Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and gas exploration, development and production company, announces that following the acquisition of Shale Petroleum (UK) Lim...
Atlantic Petroleum Sells its Interest in Orlando
United Kingdom >> 3/14/2017 - Atlantic Petroleum has entered into a Sale and Purchase Agreement with Decipher Energy for its 25% interest in the Orlando development. The consideration is a 2% revenue share of the total Orlando pro...
INEOS Adds to Shale Gas Licence Portfolio
United Kingdom >> 3/9/2017 - INEOS Shale, the onshore division of INEOS Upstream, has completed the acquisition of the entire UK onshore Petroleum Exploration and Development Licence interests of ENGIE E&P UK Limited, increasing ...
Enerplus Divests Alberta & Saskatchewan Assets for $67.3 Million
Canada >> 3/9/2017 - Enerplus Corporation has entered into definitive agreements to sell various Canadian properties located in Alberta and southwest Saskatchewan for aggregate proceeds of $67.3 million, before customary ...
ExxonMobil to Acquire 25% Interest in Mozambique Area 4 from Eni
Mozambique >> 3/9/2017 - ExxonMobil and Eni have signed sale and purchase agreement to enable ExxonMobil to acquire from Eni a 25 percent indirect interest in the natural gas-rich Area 4 block, offshore Mozambique. Eni curren...
PTTEP Farms-Out an Interest in Myanmar MD-7 Project to Total
Myanmar >> 3/8/2017 - PTT Exploration and Production Public Company Limited (PTTEP) has entered into a partnership agreement with Total E&P Myanmar to divest 50% participating interest in the Myanmar MD-7 Project, while PT...
Providence Farms out Southern Porcupine Basin FEL 2/14
Ireland >> 3/8/2017 - Providence Resources P.l.c., the Irish based Oil and Gas Exploration Company, provides an operational update on the Frontier Exploration Licence (FEL) 2/14, which lies in c. 2,250 metre water depth in...
Europa Oil & Gas Signs US$6m Farm-Out Agreement Offshore Ireland
Ireland >> 3/8/2017 - Europa Oil & Gas (Holdings) plc, UK and Ireland focussed exploration, development and production company, has signed a Farm-Out Agreement (FOA) with a wholly owned subsidiary of leading operator Cairn...
Northern Petroleum Acquires Production Assets in Canada
Canada >> 3/8/2017 - Northern Petroleum, the AIM quoted oil and gas company focusing on production led growth balanced with high impact exploration and appraisal opportunities, has signed an agreement to acquire productio...
Eni Strengthens Its Presence in the Cyprus Offshore
Cyprus >> 3/7/2017 - Eni has finalized a farm-in agreement with Total to acquire 50% Participating Interest of Block 11 Offshore Cyprus. The agreement, by which Total remains the Operator of the Block, has been approved ...
Selection of Partners for the Ayin and Batsil Fields
Mexico >> 3/7/2017 - The approval of the bidding process for the selection of a partner for the exploration and extraction of the Ayin and Batsil fields in the coastline of Tabasco, it strengthens the Petroleos Mexicanos ...
Union Jack Acquires Additional Interest in Wressle-1 Discovery
United Kingdom >> 3/6/2017 - Union Jack Oil plc (Union Jack), an onshore oil and gas production and exploration company with a focus on production, exploration, development and investment in the United Kingdom hydrocarbon sector,...
Mexico to Launch Two Annual Oil Auctions Beginning in 2018
Mexico >> 3/2/2017 - Mexico's oil regulator will organize two annual oil auctions beginning in 2018, officials said, in a bid to further boost the number of private and foreign producers operating in the country. ...

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