mergers and acquisitions

The shale sector is making moves to consolidate amid investor pressure to increase cash flow. This deal will form the second-largest producer in Colorado’s DJ Basin.

The biggest merger in the oil and gas industry in 3 years has become official, making Oxy the largest holder of land in both the Permian Basin and DJ Basin.

The combined company will produce more than 100,000 BOE/D from the Permian Basin and Eagle Ford Shale and is switching its focus to “mega-pad” developments.

As the hydraulic fracturing market faces pressure to lower costs, Keane Group and C&J Energy Services announce they will combine their businesses.

The combination will create one of the Haynesville Shale’s top gas producers, tripling Comstock’s Haynesville-Bossier acreage.

The El Dorado, Arkansas-based Murphy has quickly found a home for some of the cash it will receive from the sale of its Malaysia business. The company has been rapidly expanding its US gulf footprint while simplifying its portfolio and targeting more oil.

Oxy has won the fight for Anadarko. Citing capital discipline as the reason, Chevron has elected not to make another bid for the independent.

Keen on Anadarko for a while, Occidental Petroleum is ready to do battle with Chevron for the big independent.

Ashtead Technology has acquired Louisiana-based subsea equipment rental and cutting services specialist, Aqua-Tech Solutions, as part of the company’s international growth plans in the US.

With the purchase, the growing, privately-held Chrysaor Holdings will expand its UK North Sea production to 185,000 BOE/D.