Schlumberger sells fracking unit to Liberty Oilfield Services
HOUSTON — Oilfield services firm Schlumberger agreed to sell its North American shale fracking business to rival Liberty Oilfield Services, unloading a unit that underperformed during the shale bust. Schlumberger will take a 37-percent stake in Liberty, and the projected revenue would make Denver-based Liberty the third-largest U.S. oilfield services firm by sales. Liberty will […]
Panhandle Oil and Gas Inc. makes two acquisitions
OKLAHOMA CITY — Panhandle Oil and Gas Inc. has agreed to acquire two packages of mineral and royalty assets totaling approximately 795 net royalty acres in the SCOOP and Haynesville plays from Red Stone Resources for $6.9 million in cash and stock, subject to customary closing adjustments. The acquisition is expected to close in the […]
NRG Energy’s acquisition of Direct Energy approved
PRINCETON, N.J. — NRG Energy Inc.’s proposed acquisition of Direct Energy, a North American business owned by Centrica PLC, was recently approved by the requisite vote of Centrica PLC’s shareholders at its general meeting. Closing for the previously announced transaction is expected by year-end 2020. The transaction remains subject to other customary closing conditions, consents […]
Omega Partners acquires Oiltanking Joliet terminal
MIDLAND, Texas — Patriot Environmental LLC has acquired Transwater Inc. of Midland. Transwater Inc. is a leading provider of water monitoring solutions for the oil and gas, mining, solid waste and related industries. Cody Smithson, president of Patriot Environmental, said, “We are thrilled to be able to bring the Transwater platform into the Patriot Environmental […]
Omega Partners acquires Oiltanking Joliet terminal
HAMBURG, Germany — Oiltanking North America LLC recently entered into an agreement to sell its Joliet, Illinois, terminal to Omega Partners Illinois LLC. Following completion of customary preparatory steps, the transaction was completed with effect from July 31, 2020. Omega Partners III LLC owns and operates bulk liquid petroleum terminals in Illinois, Florida, Georgia, South […]
Castleton Resources LLC completes Terryville acquisition
HOUSTON — Castleton Resources LLC recently closed its acquisition of the Terryville upstream assets in northern Louisiana from subsidiaries of Range Resources Corp. Concurrent with the closing, Tokyo Gas America Ltd. increased its ownership stake in Castleton Resources from 46 percent to approximately 70 percent, with the balance held by Castleton Commodities International LLC. Castleton […]
BHI Energy acquires Coastal Electrical Construction
WEYMOUTH, Mass. — BHI Energy recently acquired Coastal Electrical Construction, a leading provider of substation, transmission and distribution, construction and maintenance services to major utilities in the southeastern U.S. Terms of the transaction were not disclosed. This marks the third add-on acquisition BHI has completed in the transmission and distribution space under its ownership by […]
Southwestern Energy to acquire Montage Resources
SPRING, Texas — Southwestern Energy Co. and Montage Resources Corp. have entered into a definitive merger agreement under which Southwestern Energy will acquire Montage Resources in an all-stock transaction. Under the terms of the agreement, Montage Resources shareholders will receive 1.8656 shares of Southwestern for each Montage Resources share. The transaction is expected to close […]
