The oil and gas mergers and acquisitions market is expected to remain resilient during 2013 even though many geopolitical and economic uncertainties from 2012 continue, said an M&A report that Ernst & Young released from its London office Jan. 24.

Rosneft’s reserves of crude oil increased by 2% last year and of natural gas by 33% under Securities and Exchange Commission assessment methods, the company reported on the basis of an audit by DeGolyer & MacNaughton.

Eni SPA and PetroVietnam have signed a memorandum of understanding covering exploration and production business opportunities in Vietnam and elsewhere.

Bellatrix Exploration Ltd., Calgary, signed a $300 million (Can.) joint venture agreement with a company based in Seoul, South Korea, to jointly develop Bellatrix’s undeveloped Cardium holdings in west-central Alberta. The name of the South Korean firm was not disclosed.

OMV AG has agreed to sell the wholly owned subsidiary that has maintained its obligatory oil inventories to ELG, a private firm appointed as the Austrian central stockholding entity.

Denbury Resources Inc. agreed to acquire producing property interests in the Cedar Creek anticline of Montana and North Dakota from a wholly owned subsidiary of ConocoPhillips for $1.05 billion cash.

Templar Energy LLC, a new exploration and production company formed by First Reserve Corp., has completed its first acquisition—about 7,000 net acres in Ellis and Roger Mills counties, Okla., with average production of 1,500 boe/d.

PetroFrontier Corp., founded in 2009 as one of the first companies to explore for oil and natural gas in the southern Georgina basin of Northern Territory, Australia, is considering, recapitalization, a merger or other combination with another company, or outright sale.