News Topics: Property Acquisitions & Divestitures

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Malaysia's Petronas Says Still Operating in Mauritania
Thursday, October 08, 2015 Malaysia's Petroliam Nasional says it is still operating in Mauritania after media reports said it had begun to pull out of the African country.

Encana To Sell Denver Julesburg Basin Assets For $900M
Thursday, October 08, 2015 Encana says it will sell its Denver Julesburg basin assets in Colorado, the latest divestitures as it focuses on its high-value gas liquids and oil properties.

Petrobras and Majors Sit Out Worst Brazil Oil Round in Decade
Thursday, October 08, 2015 Petrobras sits out an oil licensing round in Brazil for the first time ever as the beleaguered state-run oil giant struggles to reduce the industry's biggest debt load.

Brazil's First Oil Auction in 2 Years Seen as Referendum on Nation
Wednesday, October 07, 2015 As Brazil prepares for its first sale of oil exploration rights in 2 years, the auction is shaping up to be a mini-referendum on the willingness of investors to bet on the future of an industry.

East Kalimantan Govt Formally Takes a 10% Stake in Offshore Mahakam Block
Wednesday, October 07, 2015 Indonesia formally hands over a 10 percent stake in the offshore Mahakam Block to East Kalimantan Governor, with the interest to take effect in January 2018.

Independent Resources, Nostra Terra to Acquire Producing Egyptian Asset
Tuesday, October 06, 2015 Independent Resources and Nostra Terra Oil & Gas Company reach an agreement with TransGlobe Energy Corporation to acquire a 50% non-company operated interest in the East Ghazalat concession in Egypt.

Egypt Awards 4 Offshore Oil, Gas Exploration Licences
Tuesday, October 06, 2015 Egypt awards four new licenses to explore for oil and gas off its Mediterranean coast.

President Energy to Acquire Remaining Stake in Paraguay Asset
Tuesday, October 06, 2015 President Energy Paraguay S.A. reaches a deal to acquire Pirity Hidrocarburos S.R.L.'s entire 36 percent interest in the Pirity Concession, located in northwest Paraguay.

TPDC to Acquire 5% Stake in Kilwani North Development License in Tanzania
Tuesday, October 06, 2015 Tanzania Petroleum Development Corp. plans to acquire a five percent stake in the Kilwani North Development License in Tanzania.

Ramba Sells 35% Stake in Lemang PSC in Sumatra to Mandala for Up to $179.6M
Monday, October 05, 2015 Ramba Energy sells 35 percent stake in Lemang Production Sharing Contract in Sumatra, Indonesia to KKR-backed Mandala Energy for up to $179.6 million.

Statoil Buys Stake in Alfa Sentral Gas Field License on UKCS
Friday, October 02, 2015 Norway's Statoil pays $15 million for a 24-percent stake in the UK license that contains the Alfa Sentral gas and condensate field.

Petsec Energy Completes Acquisition of 29.75% Stake in Yemen's Block 7
Thursday, October 01, 2015 Australia's Petsec Energy completes acquisition of a 29.75 percent stake in Yemen's onshore Block 7 in the Al Barqa permit from Mitsui and AWE.

Penn West to Sell Weyburn Stake
Thursday, October 01, 2015 Penn West intends to sell its non-operated 9.5% working interest in the Weyburn field, located in southeast Saskatchewan, Canada, for $205 million.

MX Oil: 2H 2015 Likely to be Game-Changing
Wednesday, September 30, 2015 MX Oil CEO Stefan Olivier believes the second half of this year "is likely to be game-changing for MX Oil".

JV Partners Withdraw from Vietnam's Offshore Block 121
Wednesday, September 30, 2015 Joint venture partners in Vietnam's offshore Block 121 in the Phu Khanh Basin withdraw from the license following the unsuccessful drilling of the Whale prospect.

Mexico Gets Stronger Demand In Second Oil Auction, Eni Among Winners
Wednesday, September 30, 2015 Mexico awards 3 out of 5 production-sharing contracts in the second phase of its historic oil sector opening, comfortably beating the disappointing results of the first phase.

Egypt to Search for Oil in Iraq in First Foreign Venture
Wednesday, September 30, 2015 Egypt will search for oil outside its own borders for the first time after signing an agreement with Kuwait Energy for part of a concession in Iraq, according to the country's oil minister.

Shell to Explore for Oil, Gas in Block Offshore Bulgaria
Tuesday, September 29, 2015 Bulgaria picks Royal Dutch Shell to carry out deepwater oil and gas exploration of its Black Sea coast and plans to sign a contract by the end of October.

JV Partner Exercises Rights to Beach's Stake in Egypt Abu Sennan Concession
Monday, September 28, 2015 Australia's Beach Energy says a joint venture partner has exercised its pre-emptive rights for a stake in Egypt's Abu Sennan concession following the former's sale of its 22 percent interest to Rockhopper Exploration.

BG Acquires Repsol's Newfoundland Interests
Monday, September 28, 2015 BG Group acquires 3 non-operated positions offshore Newfoundland, Canada, from Repsol.

HALO to Acquire 85% Stake in Duyung PSC in Natuna Sea from Singapore's WNEL
Friday, September 25, 2015 Hague and London Oil to acquire 85 percent interest in Duyung Production Sharing Contract in the Natuna Sea, Indonesia from Singapore-based West Natuna Exploration.

Schlumberger Pulls Out of Eurasia Drilling Deal on Obstacles
Friday, September 25, 2015 Schlumberger will not pursue a $1.7 billion agreement to buy a minority stake in Eurasia Drilling beyond Sept. 30 after a lack of regulatory approvals stalled the deal.

Repsol Said to Consider Options for Its Gas Natural Stake
Thursday, September 24, 2015 Repsol is exploring options including a sale of part or all of its stake in Gas Natural SDG SA to shore up its balance sheet amid low oil prices, according to people familiar with the matter.

Quadrant Energy Withdraws from Coastal Permits in WA's Canning Basin
Wednesday, September 23, 2015 Quadrant Energy withdraws from the Coastal Permits in Western Australia's Canning Basin.

Europa Boosts Stake in Porcupine Licenses Following Kosmos Exit
Tuesday, September 22, 2015 Europa Oil & Gas intends to assume a 100% interest in, and operatorship of, licenses FEL 2/13 and FEL 3/13 in the Porcupine Basin, offshore Ireland, following Kosmos Energy's withdrawal from the Joint Operating Agreements for both licenses.

Sirius Raises Funds to Finance Ororo Field Development
Tuesday, September 22, 2015 Sirius Petroleum raises $1.55 million to help it finance its Ororo Field well permit application in Nigeria.

Egdon Completes PEDL005(R) Farm-Outs
Monday, September 21, 2015 Egdon Resources completes 2 separate farm-out agreements for License PEDL005(R), located in Lincolnshire, UK.

Pertamina Finalizing Plans to Acquire Blocks B, NSO in Indonesia
Monday, September 21, 2015 Pertamina is finalizing plans to acquire ExxonMobil's Blocks B and North Sumatra Offshore in Indonesia.

Total Sells Stake In Alberta Oil Sands Project To Canada's Suncor
Monday, September 21, 2015 Total sells 10% of its planned 180,000 barrels-per-day capacity Fort Hills project for around $230 million.

Exxon Said to Be on the Hunt for West Texas Shale Bargains
Friday, September 18, 2015 Exxon Mobil adjusts the way it structures shale acquisitions as the global energy giant expands in West Texas.

SOCAR Says Willing to Divest Part of Stake it Wants in Greek Gas Grid
Friday, September 18, 2015 Azerbaijani state energy firm SOCAR would be prepared to divest a percentage of Greek gas grid operator DESFA as part of deal to acquire stake.

New Govt Policy Induces ONGC to Consider Bids for Marginal Fields in India
Thursday, September 17, 2015 ONGC to consider bids for marginal oil and gas fields in India after the unveiling of a new government policy that made such developments more viable.

Mexico's Bid Round Hurt by Consortia Restrictions
Thursday, September 17, 2015 Restrictions on partnership flexibility hurt Mexico's recent bid round, says an oil company executive at a conference in London.

Mosman Sells 2% Royalty in its STEP Assets in NZ to Ridge Royalty Corp.
Wednesday, September 16, 2015 Mosman Oil and Gas sells 2 percent royalty in its proposed acquisition of a 70 percent interest in New Zealand's South Taranaki Energy Project assets to Canada's Ridge Royalty Corp. for $2.5 million.

Antilles Farms-Out 50% of Peru Block
Wednesday, September 16, 2015 Antilles Oil & Gas farms-out 50% of its acreage in Block 105, onshore Peru, to Uruguayan oil and gas fund Union Group.

Tower Resources Enters Cameroon with Thali PSC
Wednesday, September 16, 2015 Tower Resources will be exploring offshore Cameroon from 2016 after signing the Thali Production Sharing Contract at the offices of Societe Nationale des Hydrocarbures in Yaounde.

Genel Energy to Buy OMV Stake in Bina Bawi Field
Tuesday, September 15, 2015 Genel Energy signs an agreement with OMV to buy its 36% operated stake in the Bina Bawi field, located in the Kurdistan Region of Iraq.

Mexico Sets Minimum Bid Values For Upcoming Offshore Oil Auction
Monday, September 14, 2015 Mexico's finance ministry announces the minimum fiscal terms companies will be required to meet to win development rights in an upcoming oil auction.

Texas Energy Explorer Covey Park Said to Be Exploring a Sale
Friday, September 11, 2015 Covey Park Energy is working with Goldman Sachs Group to explore a sale, people with knowledge of the matter said.

Madagascar Oil Provides Strategic and Financing Update for Tsimiroro Block
Tuesday, September 08, 2015 Madagascar Oil provides an update on the company's search for strategic partners as well as financing initiatives for the Tsimiroro field in Madagascar.

Ramba Energy to Farm-Out Lemang Project in Indonesia
Monday, September 07, 2015 Ramba Energy enters into a memorandum of understanding with an investor to farm out a 25% working interest in the Lemang production sharing contract.

OMV, Gazprom Agree Joint Development Plan for Urengoy Field
Friday, September 04, 2015 OMV reaches an agreement with Gazprom to participate in the development of areas IV and V of the Achimov formation in the Urengoy oil, gas and condensate field in Siberia.

Mosman Oil & Gas Signs Deal to Acquire NZ Onshore Assets from Origin Energy
Friday, September 04, 2015 Mosman Oil and Gas signs agreement to acquire onshore producing assets in New Zealand from Origin Energy.

Rosneft Sells 15% Stake in Vankorneft to ONGC Videsh
Friday, September 04, 2015 Rosneft sells 15 percent interest in Vankorneft - the developer of Vankor oil and gas condensate field in Krasnoyarsk Territory in Russia - to India's ONGC Videsh.

Indonesia Plans to Offer 21 Oil, Gas Blocks for Tender in 2016
Thursday, September 03, 2015 Indonesia plans to offer 21 conventional and unconventional oil and gas blocks in a tender in 2016.

Silk Road Fund to Obtain 9.9% Stake in Novatek's Yamal LNG Project
Thursday, September 03, 2015 Novatek signs a framework agreement for China's Silk Road Fund to obtain a 9.9% stake in its Yamal liquefied natural gas project.

Armour Acquires Origin Energy's Upstream Assets in Queensland's Surat Basin
Thursday, September 03, 2015 Armour Energy acquires Origin Energy's Roma Shelf upstream assets in Queensland's Surat Basin, Australia.

Statoil Says Delivers Largest APA Application in 10 Years
Thursday, September 03, 2015 Statoil applies for exploration acreage in Norway's pre-defined licensing round (APA 2015).

India To Change Oil, Gas Exploration Rules; Offers Small Fields
Wednesday, September 02, 2015 India will auction 69 small and marginal oil and gas fields surrendered by state explorers, Oil Minister Dharmendra Pradhan says.

Central Petroleum Seals Deal to Acquire 50% Stake in Mereenie Field in NT
Wednesday, September 02, 2015 Central Petroleum completes acquisition of a 50 percent stake in the Mereenie oil and gas field in Amadeus Basin in Australia's Northern Territory.

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