Conflict is increasingly likely between Russia and Ukraine, with potentially significant implications for oil and gas markets, including higher and more volatile prices, said a report released recently by Securing America’s Future Energy (SAFE) and Roubini Global Economics (RGE).

PTTEP Offshore Investment Co. Ltd. and PTTEP International Ltd. have signed share purchase agreements to acquire 100% equity stakes of the subsidiaries of Hess Corp. in Thailand, namely Hess Thailand Holdings II Ltd. and Hess Exploration Thailand Co. Ltd.

BP has agreed to sell interests in four BP-operated oil fields on the North Slope of Alaska to Hilcorp.

Magnum Hunter Resources Corp. has executed a definitive agreement with a Canadian private company to sell 100% of its ownership interest in the company's Canadian subsidiary, whose assets consist of oil and gas properties in the Tableland field in Saskatchewan.  

Technip has entered into binding agreement for the divestment of a majority stake of at least 51% up to 75% in Seamec Ltd. to HAL Offshore Ltd., India, at a consideration of Rs 97 per share (translating to €20 million for 51% stake and up to 29 million for 75% stake).

New Source Energy Partners LP has announced a registered underwritten public offering of 2,800,000 common units representing limited partner interests.

McDermott International Inc. has elected Gary P. Luquette non-executive chairman of McDermott’s board of directors, effective May 6.

TexCom Inc., an environmental services company serving the oil and gas industry, has sold substantially all of the assets of MB Environmental Services LLC (MBES) for $15.8 million.

Lucas Energy Inc. has completed the sale of equity securities to funds managed by Ironman Energy Master Fund and John B. Helmers (associated with Long Focus Capital Management).

Post Oak Energy Capital LP, through investment partnerships it manages, is leading a $100 million equity commitment to Crown Oil Partners V LP (Crown V).