Oil and natural gas
Claims of inflated Permian asset valuation 'demonstrably false' — Exxon
Exxon Mobil Corp. has refuted claims that it inflated the value of its Delaware Basin assets by as much as $20 billion. The Wall Street Journal on Jan. 15 reported that the U.S. Securities and Exchange Commission is investigating the oil supermajor after an employee submitted a "whistleblower complaint," alleging that in 2018 the company pegged the net value of its holdings in the Delaware Basin at about $60 billion.
Oil, gas deal tracker: Upstream mergers charged Q4'20 M&A activity
Oil and gas M&A deal-making in the fourth quarter of 2020 topped year-ago levels thanks to a consolidation bonanza in North America's upstream sector, according to S&P Global Market Intelligence data.
ConocoPhillips, Concho Resources complete $9.7B merger
ConocoPhillips has completed its $9.7 billion acquisition of Concho Resources Inc. following approval by shareholders of both companies, according to a Jan. 15 news release.
New Fortress seeks to become 'energy transition specialist' for emerging markets
New Fortress Energy Inc.'s move to acquire Golar LNG Partners LP and Hygo Energy Transition Ltd. represented a bet by the private company on increasing natural gas demand in Brazil and a play for what analysts see as a growing market for investments in infrastructure to supply developing economies with lower-carbon fuels.
Icahn backs away from Delek acquisition, pushes board, strategic changes
Instead of pursuing a merger, Carl Icahn is pushing for board and strategy changes at Delek US Holdings Inc. through his oil refining company CVR Energy Inc.
Pioneer Natural completes Parsley Energy acquisition, appoints board members
Pioneer Natural Resources Co. completed its previously announced acquisition of Parsley Energy Inc. after Pioneer and Parsley stockholders approved all proposals needed for closing the all-stock transaction.
Equinor eyes sale of shale assets from money-losing US upstream unit
Equinor ASA is considering selling its holdings in the Bakken play of North Dakota and Montana, part of a comprehensive review of its international oil and gas portfolio as the Norwegian state-controlled company pivots away from oil and toward the energy transition.
Total closes sale of 10% stake in oil mining lease in Nigeria for $180M
Total SE has divested its 10% interest in onshore Oil Mining Lease 17 in Nigeria to TNOG Oil & Gas Ltd. for around $180 million, according to a Jan. 18 news release.
TPG's The Rise Fund buys majority stake in renewable natural gas marketer
The Rise Fund, TPG Capital LP's impact investing platform, paid an undisclosed sum to take a majority stake in Element Markets LLC, a renewable natural gas marketing and environmental commodities company in North America.