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Oil, gas deal tracker: 2021 starts with billion-dollar M&A


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10 Feb, 2021
Author
Allison GoodGaurang Dholakia
Large-scale oil and gas M&A deal-making got a boost in January from a pair of billion-dollar acquisitions by New Fortress Energy Inc., according to S&P Global Market Intelligence data.
During the month, the sector announced 37 whole-company and minority-stake deals, compared to 27 in January 2020. The combined value of the January 2021 deals soared year over year from $616 million to $5.13 billion.
The aggregate value of announced asset transactions, however, decreased 22% from $950 million to $739 million as the number of deals fell from 32 to 28.
New Fortress Energy s acquisitions of Hygo Energy Transition Ltd. for $2.76 billion and Golar LNG Partners LP for $1.56 billion were the biggest deals announced during January. ....

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Chinese Firm Shandong Xinchao Expands Its Foothold in Texas' Oil-Rich Permian Basin


AP Feed
On Sunday, China’s Shandong Xinchao announced its decision to shell out $420 million to purchase oil-producing acreage from Grenadier Energy in the Texas Permian Basin.
Or rather, Surge Energy of Houston made the announcement via PR Newswire.
HOUSTON, Jan. 31, 2021 /PRNewswire/  Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announced in the US that it, through its subsidiary, has signed a purchase and sale agreement to acquire leasehold interest and producing wells from Grenadier Energy Partners II LLC (“GEP II”) in Howard County, TX (the “Transaction”).  The aggregate purchase price of the Transaction is expected to be approximately $420 million USD. ....

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