Acquisitions and Divestitures (A&D)

Earthstone Energy Announces Strategic Acreage Trade

Earthstone Energy Announces Strategic Acreage Trade

Earthstone Energy, Inc. Announces Strategic Acreage Trade

Bellatrix Buys Back Ferrier Acreage

Bellatrix Buys Back Ferrier Acreage

West Central Alberta-based Bellatrix Exploration Ltd. (ticker: BXE) announced today that it entered into an agreement with Grafton Energy Co. I Ltd.

The agreement states that Bellatrix will acquire all Grafton’s remaining assets in Bellatrix’s core Ferrier area for further

Encana Sells San Juan Assets

Encana Sells San Juan Assets

Private E&Ps becoming dominant in San Juan

Private companies continue to increase their hold on the San Juan basin, as Encana (ticker: ECA) announced the sale of its San Juan assets today.

Encana will receive $480 million from Denver-based DJR …

WildHorse Bolts on 20,000 Acres

WildHorse Bolts on 20,000 Acres

Eagle Ford footprint approaches 430,000 acres

WildHorse Resource Development Corporation (ticker: WRD), an independent oil and natural gas company based in Houston TX, announced yesterday it closed on two separate purchase and sale agreements.

The combined total acreage is 20,305 …

LINN Energy and Roan Holdings to Combine Interests into New Pure Play: Roan Resources, Inc.

LINN Energy and Roan Holdings to Combine Interests into New Pure Play: Roan Resources, Inc.

LINN Energy and Roan Holdings Announce Definitive Agreement to Combine 100% of Their Interests in Roan LLC Into a New Publicly Traded Pure Play Company, Roan Resources, Inc.

The Oil Company that Slipped Into the Permian “Under The Cover of Darkness”

The Oil Company that Slipped Into the Permian “Under The Cover of Darkness”

From the Journal of Petroleum Technology

WPX Energy’s decision to reconfigure its portfolio and buy into the Permian during the downturn was a bold one not viewed favorably by its shareholders at the time. Now, with its operator peers bidding …

Southwestern Exits Fayetteville, Becomes Appalachian Pure-Play

Southwestern Exits Fayetteville, Becomes Appalachian Pure-Play

Private equity buys up another gas asset

Southwestern Energy (ticker: SWN) announced a major sale today, divesting its Fayettville shale properties for $1.87 billion in cash.

Southwestern has been a major player in the Fayettville for the entire history of …

PennEnergy CEO Talks Rex Energy Asset Acquisition

PennEnergy CEO Talks Rex Energy Asset Acquisition

From Pittsburgh Business Times

PennEnergy Resources LLC is a privately held natural gas driller that normally prefers to take a low profile. But when its acquisition of the assets of bankrupt Rex Energy Corp. is completed at the end of …

Chazen’s Magnolia Adds to Acreage

Chazen’s Magnolia Adds to Acreage

Adds 114,000 net acres in North Eagle Ford

Magnolia Oil & Gas (ticker: MGY) announced the acquisition of significant non-operated assets in the Eagle Ford today, as Steve Chazen’s new company continues to increase its holdings.

Magnolia will acquire a …

Diamondback – Energen to Combine in Second Largest Permian Deal Ever

Diamondback – Energen to Combine in Second Largest Permian Deal Ever

$9.2 billion transaction close second to $9.5 billion CXO-RSPP deal

Diamondback Energy (ticker: FANG) continued the recent trend of consolidation in the Permian with the acquisition of Energen (ticker: EGN). This $9.2 billion all-stock deal adds to an active year …

Carrizo Snags Delaware Basin Acreage from Devon in $215 Million Cash Bolt-On

Carrizo Snags Delaware Basin Acreage from Devon in $215 Million Cash Bolt-On

Carrizo places deal at $13,000 per net acre

Houston’s Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) said Tuesday it will acquire Delaware Basin properties from Devon Energy Corporation (NYSE: DVN) for $215 million in cash.

Carrizo said it will fund …

NuVista Energy Bulks Up Montney Position with Acquisition of Pipestone Asset from Cenovus for $625 Million

NuVista Energy Bulks Up Montney Position with Acquisition of Pipestone Asset from Cenovus for $625 Million

NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX: NVA) is pleased to announce that it has entered into an agreement to acquire Cenovus Pipestone Partnership which holds assets in the Pipestone area of Northwest Alberta (the “Acquired Business”) for $625 …

Diamondback Looks to North Midland With $1.25 Billion Acquisition

Diamondback Looks to North Midland With $1.25 Billion Acquisition

Buys 25,500 acre-Ajax Resources

Diamondback Energy (ticker: FANG) announced second quarter results today, showing net income of $219 million, or $2.22 per share.

Diamondback produced 112.6 MBOEPD in Q2, up 10% sequentially and 46% year-over-year. The company is increasing production …

LINN Energy Completes Spin-Off of Riviera Resources, Names New CEO

LINN Energy Completes Spin-Off of Riviera Resources, Names New CEO

LINN Energy, Inc. (OTCQB: LNGG) completed the spin-off of Riviera Resources, Inc., leaving Riviera as now an independent reporting company trading on the OTC Market under the ticker symbol “RVRA.”

LINN stockholders who held LINN common stock on August 3, …

Cenovus reaches agreement to sell Pipestone business for $625 million

Cenovus reaches agreement to sell Pipestone business for $625 million

Cenovus reaches agreement to sell Pipestone business for $625 million

Courtesy of EQT

Chesapeake Looks West, Selling Utica While Boosting Powder River Basin

Utica sale values assets at 4.4x EBITDA

Chesapeake Energy (ticker: CHK) announced a major divestiture last week, selling its Utica assets in a $2 billion transaction.

Chesapeake will sell all of its acreage in Ohio to privately-backed Encino Acquisition Partners …

BP Buys BHP’s U.S. Shale Position in $10.5 Billion Deal

BP Buys BHP’s U.S. Shale Position in $10.5 Billion Deal

Largest upstream M&A since March 2017

BHP (ticker: BHP) has finally found a buyer for its U.S. shale assets, as the company today announced BP (ticker: BP) will purchase most onshore U.S. properties. BP will pay $10.5 billion for BHP’s …

Appalachian M&A Ends Quarter with $2.1 Billion in Deals

Appalachian M&A Ends Quarter with $2.1 Billion in Deals

Huron, Utica properties changing hands

After a slow quarter, Appalachian M&A activity closed out Q2 with large deals today, with a combined value of $2.1 billion.

EQT and Diversified

EQT (ticker: EQT) announced the sale of its large Huron assets …

GE Reshuffles Its Full Portfolio: Baker Hughes Will Go

GE Reshuffles Its Full Portfolio: Baker Hughes Will Go

GE’s position in BHGE is worth $23.1 billion

Less than two years after General Electric (ticker: GE) announced it would acquire Baker Hughes, GE has changed its mind, and will divest the company. This came in an announcement today in …

Oasis Petroleum Divests Non-Core Bakken, its Largest Sale since 2014

Oasis Petroleum Divests Non-Core Bakken, its Largest Sale since 2014

Oasis Petroleum (ticker: OAS) continued its portfolio shift today, selling properties in the Williston Basin in two transactions.

Oasis has agreed to sell its Foreman Butte position and some non-operated assets to buyers that the company declined to disclose. In …

Shell Simplifies Portfolio with $1.3 Billion Asset Sales

Shell Simplifies Portfolio with $1.3 Billion Asset Sales

North Sea, Malaysia properties sold

Shell (ticker: RDS) continued its divestiture program today, selling assets in the North Sea and Malaysia for a combined $1.3 billion.

Shell is simplifying its position in the North Sea, selling its interests in two …

Pioneer Shifting Toward Permian Pure-Play, Sells Assets

Pioneer Shifting Toward Permian Pure-Play, Sells Assets

$79 million for 84 MMcf/d

Pioneer Natural Resources (ticker: PXD) continued its move toward a Permian pure-play, divesting another non-core asset today.

Pioneer will sell its Raton basin assets, located in southeastern Colorado, to privately-held Evergreen Natural Resources. The assets …

Lilis Energy Announces Acreage Exchange in Delaware Basin

Lilis Energy Announces Acreage Exchange in Delaware Basin

Lilis Energy Announces Strategic Transaction in the Texas Delaware Basin Through Exchange of Acreage

Devon Sells EnLink Midstream For $3.1 Billion

Devon Sells EnLink Midstream For $3.1 Billion

Proceeds will go to share buybacks

Devon Energy (ticker: DVN) continued its divestiture program today with the largest deal so far, valued at $3.125 billion.

Devon will sell its interest in EnLink Midstream (ticker: ENLC) to privately held Global Infrastructure …

Photo by Mike Goldwater"

Canada’s Proposed Bill C-69 Would Require Energy Project Environmental Assessments to Take Climate Change into Account

Bill gives cabinet and environment minister final power to approve or reject a project regardless of the findings of an environment assessment

In February 2018, Catherine McKenna, the federal Minister of Environment and Climate Change, introduced Bill C-69. The bill …

Talos Energy Updates Production Guidance

Talos Energy Updates Production Guidance

Houston-based Gulf of Mexico producer Talos Energy Inc. (ticker: TALO) outlined the company’s strategy today in a new update.

The company projects 2018 pro forma production sales volumes of 18 – 19.5 MMBOE, or an average daily production 49 – …

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion Energy Inc. (ticker: VET) closed the acquisition of Spartan Energy Corp. for a total consideration of $1.40 billion, comprised of $1.23 billion in Vermilion shares plus the assumption of approximately $175 million in debt.

Vermilion acquired all of the …

Santos Ltd Rejects $10.8 Billion Bid

Santos Ltd Rejects $10.8 Billion Bid

From Reuters

Blame it on Trump, Iran or Venezuela. Rising oil prices combined with a heavy debt load killed the world’s biggest private equity oil and gas industry deal last week.

Harbour Energy left Australia empty-handed after a year of …

Brazos Midstream Completes Sale of Delaware Basin Subsidiaries

Brazos Midstream Completes Sale of Delaware Basin Subsidiaries

Brazos Midstream Completes Sale of Delaware Basin Subsidiaries to Morgan Stanley Infrastructure

Corvex, Icahn Could Bid for Energen

Corvex, Icahn Could Bid for Energen

From Reuters

Activist hedge fund manager Keith Meister and billionaire investor Carl Icahn said they may try to buy oil and gas producer Energen Corp (EGN.N), according to a regulatory filing made on Monday.

Icahn, 82, reunited with …