September 28, 2015 – Oil & Gas 360

Energy Transfer Finally Locks Down Deal for Williams Companies at $37.7 Billion

September 28, 2015

ETE Becomes Largest Energy Infrastructure Group Enterprise Value Now Exceeds that of BP, Total and Petrobras Energy Transfer Equity’s (ticker: ETE) long pursuit of Williams Companies (ticker: WMB) has come to an end. On September 28, 2015, ETE announced the acquisition of WMB for total consideration of $37.7 billion, including debt, representing a 10% premium to WMB stock price prior

Sanchez Production Partners Acquires Eagle Ford Midstream Assets for $345 Million

September 28, 2015

Sanchez Production Partners (ticker: SPP), a midstream-focused Master Limited Partnership, increased its footprint in the Eagle Ford with a $345 million cash acquisition announced on September 28, 2015. The assets, purchased from Sanchez Energy Corporation (ticker: SN) consist of 150 miles of gathering lines and associated infrastructure in four gathering and processing facilities. The transaction is expected to close in

Halliburton and Baker Hughes Announce Additional Divestiture Proposals

September 28, 2015

HOUSTON–(BUSINESS WIRE)– Halliburton Company (HAL) and Baker Hughes Incorporated (BHI) today announced that the companies will market for sale additional businesses in connection with Halliburton’s pending acquisition of Baker Hughes. Pursuant to the Merger Agreement, and in order to permit completion of Halliburton’s acquisition of Baker Hughes, the following additional businesses are intended to be divested: Halliburton’s expandable liner hangers

Bill and Melinda Gates Foundation Trust Sues Petrobras, Auditor for Fraud

September 28, 2015

From The Wall Street Journal RIO DE JANEIRO—The trust that manages the $41 billion endowment of the Bill and Melinda Gates Foundation is suing Brazil’s Petróleo Brasileiro SA and its auditor in a New York court, claiming a vast corruption scheme centered on the state-run oil company caused the charitable organization to lose tens of millions of dollars. The Bill

Bill Barrett Corporation Announces Reaffirmation of $375 Million Borrowing Base, the Sale of Non-Core Uinta Basin Properties for Cash Proceeds of $27 Million, and Lower 2015 Capital Expenditure Guidance

September 28, 2015

Bill Barrett Corporation Announces Reaffirmation of $375 Million Borrowing Base, the Sale of Non-Core Uinta Basin Properties for Cash Proceeds of $27 Million, and Lower 2015 Capital Expenditure Guidance – Borrowing base under the bank credit facility reaffirmed at $375 million with zero currently drawn – Sale of non-core Uinta Basin properties for cash proceeds of $27 million enhances liquidity – DJ

Shell Pulls Arctic Plug, Looks at $4.1 Billion in Impairments

September 28, 2015

Decision to leave the Alaskan Arctic a combination of factors Royal Dutch Shell (ticker: RDSA) announced today that it plans to put an end to its operation offshore Alaska, according to a company press release. The news came following results from the company’s Burger J exploration well, which was drilled to a total depth of 6,800 feet. While the company

Athabasca Oil Corporation Provides Operations Update

September 28, 2015

CALGARY, ALBERTA–(Marketwired – Sept. 28, 2015) – Athabasca Oil Corporation (TSX:ATH) (“Athabasca” or “the Company”) is pleased to provide an update on recent operational activities. Athabasca achieved first oil at Hangingstone in July. The Company now has 15 well pairs on production with an additional six well pairs on circulation. Bitumen production has averaged 3,200 bbl/d to date in September with

Total Energy Services Inc. Plans to Repurchase Shares

September 28, 2015

CALGARY, ALBERTA–(Marketwired – Sept. 28, 2015) – Total Energy Services Inc. (“Total”) (TSX:TOT) announced today that it has filed a Notice with the Toronto Stock Exchange (the “TSX”) to undertake a normal course issuer bid that will expire on September 29, 2016. Total has been informed that the TSX has accepted its notice to make the normal course issuer bid.

VAALCO Energy Adopts Stockholder Rights Plan

September 28, 2015

HOUSTON, Sept. 28, 2015 /PRNewswire/ — VAALCO Energy, Inc. (the “Company” and “VAALCO”) (NYSE: EGY) today announced that its Board of Directors has authorized the adoption of a stockholder rights plan (the “Rights Plan”). The Rights Plan is designed to proactively assure that all of the Company’s stockholders receive fair and equal treatment in the event of a proposed acquisition of

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