$27b of Asset Sales??? 🤑

Reuters predicts $27b of non-core asset sales after megadeal flurry; SM close to buying XCL for $3b; Energy Transfer drops BANGL from West Texas Gas deal.

Author

Rob Quigley
June 27, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

Reuters predits $27billion of non-core asset sales after the megamergers over the past several years by large US E&P's.

Analysis: A Mountain of Asset Sales Loom After Oil Megamerger Era

U.S. oil and gas companies could face an uphill struggle to sell about $27 billion of assets to fund investor payouts over the next few years as the biggest wave of energy megamergers in 25 years nears the end of regulatory reviews.

www.hartenergy.com/exclusives/analysis-mountain-asset-sales-loom-after-oil-megamerger-era-209621

SM Energy Nears $3 Billion Deal for XCL Resources.(Financial Post)

Energy Transfer dropping Bangl stake in merger with WTG.(Hart Energy)

M&A wave hints at Eagle Ford revival.(Oil Price)

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Daily Headlines

  • Reuters predicts $27billion of non-core asset sales after the megamergers over the past several years by large US E&P's.(Hart Energy)

  • M&A wave hints at Eagle Ford revival.(Oil Price)

  • Investors optimistic on oil & gas stocks amid current market trends.(Oil Price)

  • Energy Transfer drops Bangl stake in merger with WTG.(Hart Energy)

  • Shale executives warn M&A activity could limit US oil output.(World Oil)

  • Chevron to boost gas output from Leviathan offshore Israel.(World Oil)

  • Texas power demand to break records during heatwave.(BOE Report)

  • U.S. energy production exceeds consumption margin.(BOE Report)

  • Russia anticipates a significant 50% surge in oil and gas revenue for this month, driven by favorable market dynamics.(MSN)

  • US crude oil and gasoline inventories climb, while distillate inventories decline, based on the latest EIA report.(BOE Report)

  • Martin Midstream says cleanup underway for Arkansas spill.(Rigzone)

  • EPA and DOE unveil $850 million initiative aimed at cutting methane emissions from the oil and gas industry.(JPT.SPE)

  • Is the world’s very last new oil state emerging?(Oil Price)

  • US power demand reaches new highs during heatwave.(BOE Report)

Deal Flow

M&A/Investment

  • SM Energy Nears $3 Billion Deal for XCL Resources.(FinancialPost)

  • Energy Transfer drops Bangl stake in merger with WTG.(Hart Energy)

IPO/Direct Listing/Issuances/Block Trades

  • No deals that match this criteria.

Debt

  • Pemex tax payment deferred due to $100 billion debt struggle.(Oil Price)

SPAC

  • No deals that match this criteria.

Bankruptcy/Restructuring/Distressed

  • No deals that match this criteria.

Fundraising

  • No deals that match this criteria.

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