Conventional

  • July 4, 2017 – Canbriam Energy Inc. has completed a US$74 million (approximately C$100 million) investment from its existing private equity sponsors, which include Warburg Pincus, ARC Financial, Ontario Teachers' Pension Plan, BlackRock and State Street (formerly GE Capital).
  • July 5, 2017 – Halliburton Company has acquired Summit ESP for an undisclosed purchase price. Summit ESP is considered a leading provider of electric submersible pump (ESP) technology and services.  The company engineers, manufactures and services electric submersible and surface pumping systems. The acquisition of Summit ESP strengthens Halliburton's artificial lift portfolio for its global customers.
  • July 6, 2017 – Xtreme Drilling Corp. has finalized 18-month term contracts for its two remaining 850XE drilling rigs. Both rigs will work in the Utica play of the Appalachian Basin for the same customer, and be operated by a Utica E&P company.
  • July 11, 2017 – Pengrowth Energy Corporation has entered into an agreement to sell its Olds/Garrington area assets for cash consideration of $300 million, before customary closing adjustments, to a private company which is owned by a large Canadian life insurance company. Included in the assets are facilities and fathering systems related to the oil and gas properties being sold and the Olds gas plant.
  • July 12, 2017 – A new partnership has been announced in Ireland's Corrib natural gas field. Canada Pension Plan Investment Board (CPPIB) will acquire Shell Exploration Company B.V.'s 45% interest in the project, and Vermilion Energy Inc. will be responsible for operating the assets after the acquisition is completed. CPPIB has entered into a definitive purchase and sale agreement with Shell, through its wholly owned subsidiary, CPP Investment Board Europe S.a.r.l., to acquire 100 % of Shell E&P Ireland Limited (SEPIL), which holds Shell's 45% interest in Corrib for total cash consideration of €830 million, subject to customary closing adjustments and future contingent value payments based on performance and realized pricing. The acquisition has an effective date of January 1, 2017, and still requires necessary government consents, with closing expected to occur sometime in the first half of 2018 and will see Vermillion assuming operatorship as well as receiving SEPIL from CPPIB and a 1.5 % working interest for €19.4 million (before closing adjustments).
  • July 12, 2017 – Saturn Oil + Gas Inc. (Saturn) and Westcore Energy Ltd. have entered into a joint operating agreement to develop two sections of land near Flaxcombe, Saskatchewan. The assets are located 30 kilometres west of Kindersley. Both companies will have a 50 % working interest in both sections.  Additionally, Saturn has entered into a farm-in agreement with Westcore on the recompletion of an existing well on Westcore's land at Flaxcombe.
  • July 17, 2017 – Tervita Corporation has acquired its first metals recycling facility in BC. Columbia Recycle (2008) Ltd., a full-service scrap yard, is located in Kimberley and is the largest metal recycler in southeast BC.
  • July 19, 2017 – Ceiba Energy Services Inc. (Ceiba) has obtained approval from its security holders for Secure Energy Services Inc. to acquire all of the issued and outstanding common shares and debentures in the capital of Ceiba.
  • July 26, 2017 – Encana Corporation has sold its Piceance natural gas assets, located in northwestern Colorado, to Caerus Oil and Gas LLC.
  • July 31, 2017 – Devon Energy Corporation has entered into a definitive agreement to monetize its Lavaca County assets in the Eagle Ford play. The transaction is expected to close by the end of 2017 and is subject to customary terms and conditions. It is projected that the Field-level cash flow which accompanies these assets will be approximately $30 million a year, excluding overhead costs.

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