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News Topics: Property Acquisitions & Divestitures

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Ithaca Agrees to Sell Norwegian Business to Hungary's MOL
Friday, April 24, 2015 North Sea-focused Ithaca Energy agrees to sell its Norwegian business to Hungary's MOL for $60 million.

BP to Sell UK Gas Pipeline Stake to Infrastructure Fund
Thursday, April 23, 2015 BP agrees to sell its stake in one of Europe's biggest pipelines to Antin Infrastructure Partners.

M&A Likely to Heat Up in Second Half
Wednesday, April 22, 2015 Bankers and analysts during a panel at IHS CERAWeek opined on the relatively slow state of mergers and acquisitions; most expect it to pick up this fall.

Norway Launches Expanded Oil Licensing Round in Mature Areas
Tuesday, April 21, 2015 Norway launches its 2015 oil and gas licensing round in mature areas, expanding it to include blocks near recent discoveries.

Official: India to Auction 69 Marginal Fields Owned by ONGC, Oil India
Tuesday, April 21, 2015 India will soon auction 69 marginal oil and gas fields owned by state explorers Oil and Natural Gas Corp and Oil India Ltd, the country's oil secretary says.

Woodside Turns Down Rabat Deep Operatorship
Tuesday, April 21, 2015 Woodside turns down the opportunity to increase its stake in the Rabat Deep license, offshore Morocco, leaving Chariot Oil & Gas seeking a new partner to fund drilling.

Encana Says to Explore Sale of Haynesville Gas Properties
Monday, April 20, 2015 Encana is seeking buyers for its natural gas properties in Louisiana as it focuses on drilling for oil and other liquids in Texas and Canada, according to sources.

Britain Orders Sale Of Russian Billionaire Fridman's North Sea Fields
Monday, April 20, 2015 Britain orders Russian billionaire Mikhail Fridman to sell his North Sea gas fields within six months.

Venezuela Wants Oil Firm Harvest Out, If It Can Find Deep-Pocketed Buyer
Monday, April 20, 2015 Venezuela would prefer Harvest Natural Resources to leave the country, but wants it to sell a project stake to a company with financial muscle to make major investments, PDVSA says.

Petsec to Operate Yemen's Block 7 After Acquiring Oil Search's Local Unit
Friday, April 17, 2015 Petsec Energy takes over as operator of Block 7 in Yemen after increasing its stake in the permit through acquisition of Oil Search's Yemeni subsidiary.

Lime Petroleum Acquires 30% Stake in PL544 in Norwegian North Sea
Friday, April 17, 2015 Lime Petroleum acquires a 30 percent stake from Lundin Petroleum in PL544 in the Norwegian North Sea.

Mozambique Delays Oil, Gas Bid Round until July 30
Thursday, April 16, 2015 Mozambique's fifth oil and gas bid round will close on July 30, delayed from its previous April 30 deadline.

Madagascar Oil Awarded 25-Year Development Title for Tsimiroro Block
Thursday, April 16, 2015 Madagascar Oil is awarded a 25-year 'Development Mining Title' for the Block 3104 Tsimiroro production sharing contract.

Petrobras Says Has No Plans to Sell Sub-Salt Oil Fields
Thursday, April 16, 2015 Petrobras says it has no plans to sell sub-salt oilfields in a divestment program aimed at shoring up its finances.

UKOG Completes Purchase of Markwells Wood License
Monday, April 13, 2015 UK Oil & Gas reports the completion of the acquisition of a 40-percent interest in the PEDL126 license in southern England, which contains the Markwells Wood oil discovery.

Murphy Completes Transfer of 50% Stake in Cameroon's Ntem Block to Sterling
Friday, April 10, 2015 Murphy Corp. completes transfer of its 50 percent interest in Ntem Concession offshore Cameroon to Sterling Energy.

Woodside Completes Canada's Kitimat LNG Project Acquisition for $854M
Friday, April 10, 2015 Woodside closes purchase of Apache's interests in Canada's Kitimat asset and revises slightly its 2015 production range to 86-94 million barrels of oil equivalent.

Pancontinental Withdraws from Kenya's Onshore Block 10B Project
Thursday, April 09, 2015 Pancontinental Oil & Gas withdraws from Kenya's onshore Block 10B project.

Petro Matad Farms Out 78% Stake in Mongolia's Blocks IV, V to BG
Wednesday, April 08, 2015 Petro Matad agrees to farm out a 78 percent stake in Blocks IV and V in central Mongolia to BG.

Apache Exits Australia E&P Business With $2.1B Sale
Wednesday, April 08, 2015 Apache says it would exit its exploration and production business in Australia by selling its unit there.

Colombia's Ecopetrol To Focus On Offshore Exploration, Key Fields
Tuesday, April 07, 2015 Ecopetrol will cope with falling oil prices by bolstering exploration offshore, as well as focusing on production of high-yield wells, the company's new president Juan Carlos Echeverry says.

Woodside Closes Purchase of Apache's Stakes in Australian Upstream Assets
Thursday, April 02, 2015 Woodside closes purchase of Apache's stakes in Australian upstream assets, comprising the Wheatstone and Balnaves developments.

Petrobras Sells its Austral Basin Assets in Argentina to CGC for $101M
Wednesday, April 01, 2015 Petrobras disposes of its assets in the Austral Basin, Santa Cruz province, Argentina to Compania General de Combustibles for $101 million.

Bank Of Montreal CEO Sees M&A Upside From Oil Price Slump
Tuesday, March 31, 2015 Battered oil prices are expected to spur mergers and acquisitions in the energy sector and drive advisory fees for the Bank of Montreal, Chief Executive William Downe says.

Eni, PetroVietnam Ink PSCs for Myanmar's Offshore Blocks MD-2, MD-4
Tuesday, March 31, 2015 Eni and partner PetroVietnam ink two production sharing contracts for Blocks MD-2 and MD-4 offshore Myanmar.

Reliance Signs Production Sharing Pact For Offshore Blocks In Myanmar
Tuesday, March 31, 2015 Reliance says it signed an agreement with Myanmar for a production sharing contract for two offshore blocks.

New Zealand Opens Block Offer 2015 for Exploration Permits
Monday, March 30, 2015 New Zealandís Ministry of Business, Innovation and Employment invites bids for exploration permits in the country in Block Offer 2015.

New Zealand Offers More Offshore Areas for Bidding in Block Offer 2015
Monday, March 30, 2015 New Zealand offers more offshore exploration areas for bidding in Block Offer 2015.

Rampart to Acquire Neon Energy's 80% Interest in Permit WA-503-P Off WA
Monday, March 30, 2015 Rampart Energy to acquire Neon Energy's 80 percent interest in exploration permit WA-503-P offshore Western Australia.

Total's Divestments in 3 Onshore Blocks in Nigeria Reaches $1B
Monday, March 30, 2015 Total's recent divestment of stakes in three onshore blocks in Nigeria reaches $1 billion.

Energy Minister: Indonesia's Pertamina To Operate Mahakam Block From 2018
Friday, March 27, 2015 Indonesia's Pertamina will operate the Mahakam natural gas block offshore East Kalimantan, according to the country's energy minister.

Cue Energy Gets Approval to Farm-in for 12.5% Stake in Sumatra's Mahato PSC
Thursday, March 26, 2015 Cue Energy receives government approval for the farm-in agreement with Bukit Energy for a 12.5 percent stake in the Mahato Production Sharing Contract in Central Sumatra, Indonesia.

Chevron Signs PSC for Block A5 in Rahkine Basin Offshore Myanmar
Wednesday, March 25, 2015 Chevron signs production sharing contract for Block A5 in the Rakhine Basin offshore Myanmar with Myanma Oil & Gas Enterprise.

Hess, Petroceltic Pull Out of Kurdistan License
Wednesday, March 25, 2015 Petroceltic and its partner Hess have chosen to pull out of the Dinarta license in Iraqi Kurdistan after drilling difficulties.

Shell Completes $1.7B Sale of Nigerian Assets
Wednesday, March 25, 2015 SPDC announces it has completed the assignment of its interest in OML 29 and the Nembe Creek Trunk Line (OML29 and NCTL) and related facilities in the Eastern Niger Delta.

Malaysia's Cliq Energy Buys into Kazakhstan Oilfields for $117M
Tuesday, March 24, 2015 Malaysia's Cliq Energy buys into Kazakh oilfields for $117 million.

Linn, Quantum Energy Tie Up to Buy Oil, Gas Assets
Tuesday, March 24, 2015 Quantum Energy Partners will invest up to $1 billion in new entity for the acquisition and development of oil and gas assets.

Woodside Inks 4 PSCs for Blocks Awarded in 2013 Myanmar Offshore Bid Round
Monday, March 23, 2015 Woodside inks four production sharing contracts for blocks awarded in the 2013 Myanmar Offshore Bid Round.

Indonesian Government Tells Pertamina to Resubmit Mahakam Block Proposal
Friday, March 20, 2015 Indonesia's Ministry of Energy and Mineral Resources tells Pertamina to resubmit proposal on taking over operations at the Mahakam block offshore East Kalimantan.

Minister: India Expects to Raise $3.6B from Share Sale in Four Companies
Friday, March 20, 2015 India could raise $3.6 billion from the sale of stakes in four state-run firms including Oil and Natural Gas Corp (ONGC) and National Aluminium Co Ltd (NALCO), Junior Finance Minister Jayant Sinha says.

Shell Completes Divesting 30% Stake in Nigeria's OML 18 to Eroton for $737M
Friday, March 20, 2015 Shell completes divesting 30 percent stake in OML 18 and related facilities in the Eastern Niger Delta, Nigeria to Eroton for $737 million.

Central Gulf Sale 235 Attracts $539M in High Bids
Wednesday, March 18, 2015 Despite lower oil prices, bidding in Central Gulf Lease Sale 235 underscores "steady, continued interest" in US Gulf of Mexico leasing.

Rey Resources Considers Next Move in Concluding Acquisition of Derby Block
Wednesday, March 18, 2015 Rey Resources considers its next move in concluding the acquisition of the Derby Block in the Canning Basin, Western Australia.

Shell, Statoil, Petronas Gain Exploration Blocks in Indonesia Bid Round
Wednesday, March 18, 2015 Shell, Statoil, Petronas Carigali and Pertamina are among the successful firms in the latest bidding round for 11 oil and gas blocks in Indonesia.

Albania To Sell State Oil Firm, Offer Oil Blocks
Tuesday, March 17, 2015 Albania wants to try again to privatize its state oil company this year, and will soon begin offering its blocks for oil and gas exploration, Prime Minister Edi Rama says.

MEO Confirms Farm-out of 30% Stake in Permit WA-488-P Offshore WA
Tuesday, March 17, 2015 MEO Australia says an international exploration company agreed to exercise its option to farm-in for a 30 percent interest in permit WA-488-P offshore Western Australia.

KUFPEC Inks Exploration Agreement for Pakistan's Paharpur Block
Monday, March 16, 2015 KUFPEC signs exploration agreement with the Pakistani Ministry of Petroleum and Natural Resources for the Paharpur Block in Pakistan.

Shell Pulling Back from Shale in South Africa
Monday, March 16, 2015 Shell is pulling back from its shale projects in South Africa due to lower energy prices although it is still seeking an exploration license for the onshore Karoo Basin, its country manager says.

Kea Relinquishes Mercury Permit in Taranaki Basin, Offshore New Zealand
Friday, March 13, 2015 Kea Petroleum relinquishes Mercury permit in PEP 52333, offshore Taranaki, New Zealand.

Orca Energy to Sell Cooper Basin Assets in South Australia to Senex Energy
Friday, March 13, 2015 Orca Energy agrees to sell its upstream assets in South Australia's Cooper Basin to Senex Energy for $1.5 million.

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