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Written by Reuters | FACTBOX
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Tuesday, 05 April 2011 23:26 |
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Read the original post at its source -- including links/images where applicable.
NEW YORK - Companies eager to capitalize on the shale revolution are buying up other companies that have deeds to land with access to reserves.
Two multibillion-dollar deals in the first quarter show the interest companies have in scooping up shale plays for the resources and technology. Below are major shale gas and oil acquisitions: APRIL 2011: -- Marubeni Corp (8002.T) will pay Marathon Oil Corp (MRO.N) about $270 million for a 30 percent stake in a U.S. shale oil project. [nWNAB2649] FEBRUARY 2011 -- PetroChina (0857.HK) pays Encana Corp (ECA.TO) $5.4 billion for half of a shale gas project. [ID:nN09296031] -- BHP Billiton (BHP.AX) pays Chesapeake Energy Corp (CHK.N) $4.75 billion for gas reserves in the Fayetteville Shale in Arkansas. [ID:nLDE71L1M0] DECEMBER 2010 -- South Africa's Sasol (SOLJ.J) pays $1.03 billion for a half share in Talisman Energy Inc (TLM.TO) shale gas property. [ID:nLDE6BJ04G] OCTOBER 2010 -- CNOOC Ltd (0883.HK) (CEO.N) agrees to pay Chesapeake Energy $1.08 billion in cash for one-third of its Eagle Ford shale in South Texas. [ID:nN10263769] JUNE 2010: -- India's largest listed company Reliance Industries (RELI.BO) will invest $1.36 billion in the U.S. shale gas assets of Pioneer Natural Resources (PXD.N). [ID:nSGE65N06C] MAY 2010 -- Royal Dutch Shell (RDSa.L) says it will pay $4.7 billion cash to buy privately held East Resources Inc, which controls 650,000 net acres (2,600 square kilometers) in the Marcellus Shale. [ID:nLDE64R0AX] APRIL 2010: -- British gas producer BG Group (BG.L) said it would pay $950 million to buy a 50 percent interest in shale gas assets in Appalachia from EXCO Resources (XCO.N). FEBRUARY 2010: -- S.Korea's KOGAS (036460.KS) invests $1.1 billion in developing Encana Corp's natural gas fields. [ID:nTOE61R013] -- Canada's Progress Energy Resources Corp (PRQ.TO) agreed to buy certain northeast British Columbia Foothills assets for about C$390 million ($366.2 million) from Suncor Energy (SU.TO). [ID:nSGE6180KX] DECEMBER 2009: -- Exxon Mobil Corp (XOM.N) announced its plan to buy XTO Energy Inc XTO.N for about $30 billion in stock. XTO's resource base is the equivalent of 45 trillion cubic feet of gas and includes shale gas, tight gas, coal bed methane and shale oil. [ID:nN14126206] -- Ultra Petroleum Corp (UPL.N) said it would pay about $400 million to an unnamed private company to buy 80,000 net acres in the burgeoning U.S. Marcellus Shale region, giving it about 250,000 net acres and a potential for 1,800 net drilling sites. [ID:nSGE5BK0EU] NOVEMBER 2009: -- Denbury Resources Inc (DNR.N) said it would buy Encore Acquisition Co for $3.2 billion, creating a company with 426 million barrels of oil equivalent in proved reserves. [ID:nN01400606] The acquisition would allow Denbury to leverage its enhanced-oil-recovery business into Encore's properties in Wyoming, Montana, and North Dakota, and would give it a large stake in the Bakken shale on the U.S.-Canada border. JUNE 2009: -- British gas producer BG Group paid Dallas-based Exco Resources Inc (XCO.N) $1.3 billion for an interest in shale gas resources in Texas and Louisiana. [ID:nLU618520] The companies said each would own 50 percent of a venture to which EXCO is contributing 120,000 acres of land in the Haynesville shale gas area and associated gas infrastructure. MAY 2009: -- Talon Oil & Gas LLC bought 60 percent of Denbury Resources Inc's (DNR.N) natural gas assets for $270 million. -- Independent oil and gas company Quicksilver Resources Inc (KWK.N) agreed a joint venture with Italian energy giant Eni (ENI.MI) to develop its Barnett shale properties in Texas. [ID:nBNG161361] As part of the deal, Eni agreed to buy a 27.5 percent stake in Quicksilver's Alliance leasehold interests in the Fort Worth basin for $280 million. MARCH 2009: -- Independent Canadian oil exploration firm TriStar Oil & Gas and Crescent Point Energy Trust agreed to buy Talisman Energy Inc's lands in the prolific Bakken shale region of Saskatchewan and Montana for C$720 million ($567 million). TriStar was later acquired by Petrobank Energy and Resources Ltd (PBG.TO), which combined its own conventional oil assets with TriStar to create a new company called PetroBakken Energy Ltd (PBN.TO). (Reporting by Jeanine Prezioso; Editing by David Gregorio) |