Hints and tips:
...Apollo invested $362m in Texas-based Athlon Energy in 2010, and received $2.6bn in total proceeds, a sevenfold return, when it sold the business to Canada’s Encana last year....
...Buying Athlon, which is based in the booming oil region of the Permian Basin of west Texas, is expected to raise Encana’s production of oil and related liquids such as ethane to 45-50 per cent of its output...
...In turn, private equity groups turned their attention to shale with proven deposits of natural gas liquids and oil, where profits are higher, and towards extraction rather than exploration....
...Alphaville has identified the previously unnamed donor as Jeff Stevens, President and CEO of Western Refining Logistics LP, a publicly-traded Master Limited Partnership headquartered in El Paso, Texas....
...The Australian company’s withdrawal leaves Noble with just under 40 per cent of the project, and Israeli companies Delek Drilling, Avner Oil Exploration and Ratio Oil Exploration holding the remaining shares...
...Devon operates one of the largest exploration and production businesses in North America, averaging output of 691,800 barrels of oil equivalent per day in the first nine months of the year....
...The New York-based group led a buyout of El Paso’s oil and gas exploration business for $7.2bn last year....
...It has also put up for sale a Russian subsidiary and a small package of land in the Eagle Ford shale oilfields of Texas....
...Ethane prices have plunged this week to 29.5 cents a gallon at the Mont Belvieu benchmark hub in Texas, the lowest since mid 2011 and down almost 60 per cent of the last year....
...The largest private equity deal since the financial crisis was KKR’s $7.2bn purchase last year of Samson Investment, an oil and gas exploration and production company....
...Buying Houston-based Southern Union would take Williams into new markets, giving the company access to areas such as the Permian basin in Texas and New Mexico....
...The $3.2bn agreement follows this year’s collapse of an Arctic exploration deal between Rosneft and BP....
...Texas-based Kosmos completed an initial public offering on May 11 and is now listed on the New York Stock Exchange....
...Shares in Southern Union were up 4.3 per cent to $42.10 after Energy Transfer Equity agreed to take over the Texas-based group in an $8.9bn deal – significantly more than the $7.9bn that it had agreed on...
...EO has nevertheless struggled to secure financing for its share in operating costs since oil production started in December, and an agreement with Kosmos that covered initial exploration costs expired....
...The US private equity owners of Kosmos, the operator of Ghana’s large Jubilee oil field, are considering a potential initial public offering of the Texas-based oil exploration company, which would value...
...Its European portfolio includes Nycomed, the Swiss-based pharmaceutical group, as well as Hansa Hydrocarbons and Celtique, two UK-based oil and gas exploration companies....
...In return, Kosmos met EO’s share of exploration and development costs, according to an agreement between the two companies obtained by the Financial Times....
...The transaction positions Denbury, whose operations are centred on Texas, Mississippi and Louisiana, as one of the largest crude oil focused, independent North American exploration and production companies...
...Shareholders in Hunt will gain $2.6bn in cash and about $1.6bn in XTO stock, the Texas-based buyer said on Tuesday....
...A second group composed of Blackstone, Texas Pacific, and KKR is exploring its own offer, people familiar with the matter said....
...The other consortium comprises Blackstone, Kohlberg Kravis Roberts and Texas Pacific Group, people close to the negotiations said....
International Edition