Acquisitions and Divestitures – Page 16

Rosetta Resources Acquires Permian Assets from Comstock Resources

March 15, 2013

Rosetta Resources Inc. (ticker: ROSE) today announced it has entered into a definitive agreement to acquire Permian Basin assets from Comstock Resources, Inc. (ticker: CRK) for a purchase price of approximately $768 million, subject to customary closing adjustments. Provides new basin entry in Permian and access to oil-weighted multi-pay areas Adds 40,200 net acres in Delaware Basin delineated Wolfbone play Expands capital

Aurora Oil & Gas Limited: Pure Play Eagle Ford Producer Makes Strategic Acquisition

March 1, 2013

Aurora Oil & Gas Limited (tickers: AEF and AUT) is a Perth and Houston-based oil and liquids company with operations solely in the Eagle Ford shale of South Texas. At year-end 2012, the company exited the year producing approximately 13,850 net BOEPD. The company has 77,000 gross (19,100 net) acres in the “tri-County” area of Karnes, Live Oak and Atascosa.

$20 Billion Acquisition: Freeport-McMoRan to Purchase McMoRan Exploration and Plains Exploration

December 5, 2012

Freeport-McMoRan Copper & Gold Inc. (ticker: FCX), Plains Exploration & Production Company (ticker: PXP) and McMoRan Exploration Co. (ticker: MMR) announced today that they have signed definitive merger agreements under which FCX will acquire PXP for approximately $6.9 billion in cash and stock and FCX will acquire MMR for approximately $3.4 billion in cash, or $2.1 billion net of 36 percent of the

Magnum Hunter Resources Corp Adding to Its Rich Asset Base; Reaffirms 2012 Production Exit Rate

October 26, 2012

Magnum Hunter Resources Corp (ticker: MHR) announced it will acquire Viking International Resources, a private company with approximately 51,500 net acres primarily in the Marcellus and Utica plays, for $106.7 million. The deal will be funded with $37.3 million in cash and $69.4 million in convertible preferred stock. The preferred stock will pay an annual dividend of 8% and will

Petronas/Progress Energy Deal Blocked – A Roundup of Coverage

October 22, 2012

Canada blocks Petronas’ bid for Progress Energy – AP TORONTO — Canada has blocked the Malaysian state-owned oil firm Petronas’ US$5.2 billion (CA$5.17 billion) bid for gas producer Progress Energy Resources, saying the proposed investment would not provide a net benefit to Canada. Federal Industry Minister Christian Paradis did not explain his decision in a statement released just before midnight

Gulf of Mexico M&A Surging

September 18, 2012

According to Credit Suisse’s September 2012 research report titled “Oil: Fundamentals & US Oil Production Outlook,” U.S. Gulf of Mexico (GOM) production could increase by 700,000 barrels per day between 2012 and 2018. Super majors have long since realized the future oil potential within the Gulf of Mexico. The long lead times and huge amount of capital required to drill

PXP Goes Deep Purchasing $6.1 Billion of Gulf of Mexico Producing Properties

September 10, 2012

In two separate transactions, Plains Exploration and Production (ticker: PXP) purchased approximately 67,000 BOEPD (combined 84% oil and NGLs) of Gulf of Mexico production for $6.1 billion. The largest chunk, 59,500 BOEPD, was purchased for $5.5 billion from BP (ticker: BP). The remaining 7,400 BOEPD was purchased from Shell (ticker: RDS.B) for $560 million. PXP News Release BP News Release

QEP Resources Takes a Bigger Bite of Bakken

August 27, 2012

On August 23, 2012, QEP Resources, Inc. (ticker: QEP) announced it increased its operations in the Williston Basin to approximately 118,000 net acres with the acquisition of 27,600 net acres from multiple sellers in a new core area targeting the Bakken and Three Forks formations. Details of the transaction: Total consideration of approximately $1.38 billion in cash, subject to customary

Growth is a Strategy: Magnum Hunter Resources Reports Mid-Year Reserves

July 16, 2012

In only six months, Magnum Hunter Resources (ticker: MHR) increased its estimated total proved reserves by 51%, or 22.8 MMBOE. The company now estimates owning 67.7 MMBOE of proved reserves, 64% oil. What caused the increase? A combination of organic drilling extensions, as well as acquisitions (Magnum Hunter’s Chief Executive Officer Gary Evans’ effective and proven strategy to build, develop

Another Major Targets the Utica Shale; BP Agrees to Lease 84,000 acres in Ohio

March 27, 2012

BP (NYSE: BP) announced an agreement to lease approximately 84,000 acres in northeast Ohio targeting the Utica/Point Pleasant shale formation from the Associated Landowners of the Ohio Valley (ALOV). The ALOV is a local Ohio group representing area mineral owners. The 84,000 acres are located in Trumbull County, Ohio. BP reported in the news release terms of the agreement, to

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