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Devon anticipates the acquisition will enhance its footprint in North Dakota. Credit: Anita starzycka via Pixabay

Devon Energy plans to acquire Enerplus

Devon Energy plans to acquire Enerplus, which has a market value of around $3bn. The details of Devon’s offer have not been disclosed. Enerplus owns light oil assets in the Bakken, North Dakota, and a position in the Marcellus natural gas shale region in north-east Pennsylvania, US. Devon anticipates the acquisition will enhance its footprint in North Dakota and diversify its operations beyond the Delaware Basin in Texas and New Mexico. 

Benchmark Energy to acquire Anadarko Basin oil and gas asset

Benchmark Energy II, majority owned by Acacia Research, has signed a purchase and sale agreement to acquire upstream assets and related facilities in Texas and Oklahoma, including more than 470 operated producing wells and 140,000 net acres, as well as 27,000 net acres in the emerging Cherokee play. The acquisition enhances Benchmark’s position in the Western Anadarko Basin with more than 110,000 net acres, all held-by-production.

Shell to sell Nigerian onshore business 

Renaissance, a consortium of five companies, has agreed to acquire the Shell Petroleum Development Company of Nigeria (SPDC) in a deal valued at $2.4bn. Shell has structured the deal to maintain SPDC’s operational capabilities to support the SPDC Joint Venture (SPDC JV). Shell’s 25.6% interest in Nigeria LNG is not included in the deal. 

BP plans $1.5bn investment in Egypt’s oil and gas sector 

BP plans to invest $1.5bn in Egypt, aimed at development and exploration activities, following a meeting between the Egyptian President and CEO Murray Auchincloss during the Egypt Petroleum Show in Cairo. Auchincloss said Egypt is the company’s top choice for exploratory projects to make use of the current land and marine infrastructure. BP hopes to support the state in exporting excess energy and meeting the local market’s expanding demands.