MIDLAND: Rising Phoenix Capital, a boutique investment firm specializing in oil and gas mineral royalty acquisitions, said Friday it has acquired mineral rights in Texas’ Midland Basin through its Maroon Bells Fund. The assets, located in Ector and Midland Counties and operated by ConocoPhillips, include producing wells and permitted sites for near-term development. The firm…
PARIS, FRANCE: TotalEnergies EP Canada Ltd. has finalized today the sale to ConocoPhillips of its 50% interest in the Surmont oil sands asset and associated midstream commitments. The transaction, for a base amount of C$4.03 billion (about US$3.0 billion) plus up to C$440 million (about US$330 million) in contingent payments, has an effective date on…
PARIS, FRANCE: ConocoPhillips has agreed to buy TotalEnergies’ 50% stake in the Surmont oil sands project in Canada for $3 billion in cash, plus up to $325 million in additional payments under certain conditions. The deal was announced on May 26, 2023, after ConocoPhillips exercised its preemption right to purchase the interest held by TotalEnergies…
SYDNEY, AUSTRALIA: Origin Energy Limited has completed the sale of a 10 per cent interest in Australia Pacific LNG to ConocoPhillips. Net proceeds from the transaction are $2 billion, after adjustments. Origin and ConocoPhillips retain their existing seats on the Australia Pacific LNG board. The divestment of a 10 per cent interest does not change…
SYDNEY, AUSTRALIA: ConocoPhillips has exercised its pre-emption rights in relation to Origin Energy’s sale of a 10 per cent shareholding in Australia Pacific LNG to EIG for $2.12 billion, which was announced on 25 October 2021. The other shareholder in Australia Pacific LNG, Sinopec, has until 17 December to exercise its respective pro-rata pre-emption rights….