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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (4830)	3/26/2018 8:58:30 AM
From: richardred	Respond to of 7242

Pioneer Deals Eagle Ford Assets To Australia's Sundance Emily Patsy Associate Managing Editor, Digital News Group Hart Energy Monday, March 19, 2018 - 3:45pm 1,629 13 Sundance Energy agreed to acquire the assets located in the volatile oil window of the Eagle Ford Shale from Pioneer Natural Resources and its JV partner for $221.5 million. (Image: Hart Energy) Pioneer Natural Resources Co. (NYSE: PXD) recently made headway on its goal of becoming a Permian pure-play with an agreement to sell a portion of its Eagle Ford assets to Sundance Energy Australia Ltd. (NASDAQ: SNDE). Sundance said March 15 it had agreed to acquire Eagle Ford assets in the volatile oil window from Pioneer and its joint venture partner, Reliance Industries Ltd., for $221.5 million. The deal included 21,900 net acres in McMullen, Live Oak, Atascosa and La Salle counties, Texas, and current production of 1,800 barrels of oil equivalent per day (boe/d). The sale is Pioneer’s first move in a strategy announced in early February to sell all assets outside of the Permian, where the E&P plans to focus its entire $2.9 billion capex in 2018 oilandgasinvestor.com

To: richardred who wrote (4830)	3/28/2018 9:56:54 AM
From: richardred	Read Replies (2) \| Respond to of 7242

Oil price still lucrative enough for deals in the Permian Basin Oil producer Concho to buy rival RSP in Permian push (Reuters) - Oil and gas producer Concho Resources Inc said on Wednesday it will buy smaller rival RSP Permian Inc in an all-stock deal valued at about $8 billion, in a bid to run the largest drilling program in the Permian Basin. Many energy companies, including Exxon and Chevron, have swarmed to the Permian Basin to boost production because of its prolific resources and relatively cheap costs. Production there is expected to rise by 75,000 barrels per day to 3 million bpd in March. The combined company, which will be owned 74.5 percent by Texas-based Concho, will have 27 rigs in the Permian Basin. The deal will add about 92,000 net acres to Concho’s existing oil fields in the Permian Basin, increasing total acreage to 640,000, the companies said. “This combination allows us to consolidate premier assets that seamlessly fold into our drilling program”, Concho Chief Executive Officer Tim Leach said in a statement. RSP shareholders will get 0.320 of Concho shares for each stock held, worth about $50.24 per share - a premium of nearly 29 percent to RSP’s close on Tuesday. Shares of RSP Permian were up 19.1 percent at $46.35 in premarket trade. The companies said including debt, the value of the deal is $9.5 billion. The equity value of the deal was calculated based on 155.53 million outstanding shares of RSP. “This is a significant acquisition, and a lot of synergies that make sense, said RBC analyst Scott Hanold, adding the 29 percent premium was a reasonable price to pay. The acquisition is likely to add to Concho’s earnings in the first year after the deal closes, which is expected in the third quarter, the companies said. reuters.com