Acquisitions and Divestitures (A&D)

CERAWEEK-Oil mergers, clean fuels vie for attention at Houston energy conference

CERAWEEK-Oil mergers, clean fuels vie for attention at Houston energy conference

Nasdaq


HOUSTON – Top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large scale move to clean fuels.

Global …

Source: Talos Energy

Talos Energy increases 2024 production predictions early following $1.3 billion QuarterNorth Energy acquisition

World Oil


(WO) – Talos Energy Inc. provided updated 2024 operational guidance to reflect the closing of the QuarterNorth Energy Inc. acquisition earlier than expected.

For the full year 2024, Talos expects average daily production between 89,000 and 95,000 boed, …

EQT announces transformative acquisition of Equitrans Midstream

EQT announces transformative acquisition of Equitrans Midstream

Oil and Gas 360


03/11/2024
  • Creates America’s only large-scale, vertically integrated natural gas company prepared to compete on the global stage
  • All stock transaction with combined company enterprise value over $35 billion
  • Provides >2,000 miles of critical pipeline infrastructure with
Source: World Oil

Hess flags potential delay for Chevron Merger as ExxonMobil fights for “massive” oil discovery rights offshore Guyana

World Oil


(Bloomberg) – Hess Corp. signaled its $53 billion agreement to be bought by Chevron Corp. may be delayed after Exxon Mobil Corp. filed for arbitration over the deal to preserve its rights to a massive oil discovery off …

Source: Talos Energy

Talos Energy adds deepwater assets to portfolio following completion of QuarterNorth Energy acquisition

World Oil


(WO) – Talos Energy Inc. announced the completion of the acquisition of QuarterNorth Energy Inc.

After completing the acquisition, Talos has approximately 183.0 million shares of common stock outstanding, including approximately 24.4 million shares issued to the QuarterNorth …

Source: Reuters

EXCLUSIVE-Vitol close to buying Exxon, QatarEnergy stakes in Italy LNG terminal, sources say

Nasdaq


MILAN, March 5 (Reuters) – Vitol-backed energy storage company VTTI is close to acquiring a majority stake in Italy’s biggest liquefied natural gas import terminal from Exxon Mobil XOM.N and QatarEnergy, two sources with knowledge of the matter said …

Source: Reuters

TC Energy to sell Portland Natural Gas Transmission System for $1.14 bln

Nasdaq


TC Energy TRP.TO said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to a BlackRock-managed fund and Morgan Stanley Infrastructure Partners for $1.14 billion as part of its ongoing efforts to reduce debt and …

Source: Reuters

Low US natgas prices to dampen prospects for Tellurian asset sale

Nasdaq


HOUSTON – Low U.S. natural gas prices will hurt Tellurian Inc’s TELL.A ability to sell Louisiana gas producing properties in order to pay off enough debt to salvage its liquefied natural gas export (LNG) project, analysts said.

Tellurian has …

Source: World Oil

VAALCO Energy joins ExxonMobil, Chevron offshore West Africa with $66.5 million Svenska Petroleum Exploration acquisition

World Oil


(WO) – VAALCO Energy, Inc. has entered into a sales and purchase agreement (“SPA”) to acquire Svenska Petroleum Exploration AB (“Svenska”), a privately-held exploration and production (“E&P”) company based in Stockholm, Sweden. Svenska’s primary asset is a 27.39% …

Source: Reuters

EXCLUSIVE-Shell’s US solar unit launches asset sale, sources say

Nasdaq


NEW YORK – Shell’s SHEL.L U.S. solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects …

Source: Reuters

ANALYSIS-Exxon’s curveball move in Guyana alters Chevron-Hess deal prospects

Nasdaq


HOUSTON – Exxon Mobil’s surprise challenge to Chevron’s acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging …

Source: Reuters

Atlas Energy Solutions Inc. to acquire Hi-Crush Inc., creating the largest proppant producer in the country and an industry leading logistics provider

Oil and Gas 360


AUSTIN, Texas–(BUSINESS WIRE)– Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas” or the “Company”) today announced that it has entered into a definitive agreement with Hi Crush Inc. (“Hi-Crush”) to acquire all of Hi-Crush’s Permian Basin proppant …

Source: World Oil

APA to increase global oil and gas production in 2024 with $2 billion upstream investment

World Oil


(WO) – On Feb. 21, APA Corp. released its 2023 financial results and 2024 operational outlook. In the report, APA forecasted strong U.S. oil growth in 2024, approximately 8% year-over-year and more than 10% from fourth-quarter 2023 to …

Chord Energy and Enerplus to combine in $11 billion transaction creating premier Williston-focused E&P Ccompany with top-tier shareholder returns

Chord Energy and Enerplus to combine in $11 billion transaction creating premier Williston-focused E&P Ccompany with top-tier shareholder returns

Oil and Gas 360


Enhanced Operating Scale to Drive Returns and Free Cash Flow; Combined Acreage Position
Totaling 1.3 Million Net Acres and Combined 4Q23 Production of 287,000 Boepd

Combined Company has Approximately 10 years of Low-Breakeven Inventory with Significant

Source: Reuters

Exclusive-Occidental explores $20 billion-plus sale of Western Midstream, sources say

Yahoo Finance


Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of close to $20 billion, including debt, according to people familiar with the matter.

Western Midstream shares …

Source: Reuters

CenterPoint to sell Louisiana, Mississippi natgas assets for $1.2 bln

Yahoo Finance


  • Transaction valuation represents approximately 32 multiple of 2023 Louisiana and Mississippi Local Distribution (LDC) earnings
  • Sale will enable company to efficiently recycle approximately $1 billion in anticipated after-tax cash proceeds to support industry-leading capital plan
  • Transaction also enables
Gabon to buy Carlyle’s oil business, preempting $1.3 billion sale

Gabon to buy Carlyle’s oil business, preempting $1.3 billion sale

Yahoo Finance


LONDON -Gabon’s national oil company has agreed to acquire Carlyle’s Assala Energy after it used its right to preempt the sale of the business for $1.3 billion to France’s Maurel & Prom, the firms said on Friday.

Maurel …

Source: Reuters

New York pension fund to divest some Exxon holdings

Yahoo Finance


The New York State Common Retirement Fund will restrict its investments in eight integrated oil and gas companies, including the divestment of a small share of its holdings in Exxon Mobil, New York Comptroller Thomas DiNapoli, who oversees …

Source: World Oil

Diamondback becomes next Permian acquisition candidate on heels of Endeavor megadeal

World Oil


(Bloomberg) – Diamondback Energy Inc.’s blockbuster deal for Endeavor Energy Resources LP makes the company’s shares the best way to invest in the prolific Permian basin in Texas, according to Tortoise Capital Advisors LLC.

“Diamondback will become an …

Bayswater acquires new DJ assets & continues to expand Colorado footprint

Bayswater acquires new DJ assets & continues to expand Colorado footprint

Oil and Gas 360


NEWS PROVIDED BY

Bayswater Exploration & Production, LLC 

12 Feb, 2024, 13:08 ET

DENVERFeb. 12, 2024 /PRNewswire/ — Bayswater Exploration & Production (Bayswater), a Denver-based oil and natural gas development company, recently acquired …

Source: Reuters

Why Endeavor Energy’s founder sold his company after years of rebuffing offers

Yahoo Finance


For years, Endeavor Energy founder Autry Stephens’ refusal to entertain acquisition offers for one of the most lucrative producers in the U.S. oil patch vexed some of his peers.

“It’s not for sale, it hasn’t been for sale, …

Diamondback Energy, Inc. and Endeavor Energy Resources, L.P. to merge to create a premier Permian independent oil and gas company

Diamondback Energy, Inc. and Endeavor Energy Resources, L.P. to merge to create a premier Permian independent oil and gas company

Oil and Gas 360


MIDLAND, Texas, Feb. 12, 2024 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) and Endeavor Energy Resources, L.P. (“Endeavor”), today announced that they have entered into a definitive merger agreement under which …

Source: Reuters

Exxon set to exit Equatorial Guinea

Oil Price


Exxon is leaving Equatorial Guinea after a three-decade presence in the OPEC member from Central Africa.

The supermajor told Bloomberg that it will transfer its holdings in the country to the government and that “Our focus now is …

Source: World Oil

Devon Energy in talks to acquire oil driller Enerplus

World Oil


(Bloomberg) – Devon Energy Corp., an Oklahoma City-based oil and gas company, is in talks to acquire Calgary-based driller Enerplus Corp., Reuters reported.

The companies have not come to an agreement, Reuters said, citing anonymous sources. It comes …

California Resources Corporation to combine with Aera Energy

California Resources Corporation to combine with Aera Energy

Oil and Gas 360


Transaction highly accretive across key 2024E financial metrics

Complementary assets to significantly scale E&P business and expand leading carbon management platform

California Resources Corporation (NYSE: CRC) today announced the signing of a …

PEDEVCO announces approval of D-J Basin development plan for Roth 2-11 wells and operations update

PEDEVCO announces approval of D-J Basin development plan for Roth 2-11 wells and operations update

Oil and Gas 360


HOUSTON, TX / ACCESSWIRE / February 5, 2024 / PEDEVCO Corp. (NYSE American:PED) (“PEDEVCO” or the “Company”), an energy company engaged in the acquisition and development of strategic, high growth energy projects in the U.S., today …

Prairie Operating Co. expands core asset base

Prairie Operating Co. expands core asset base

Oil and Gas 360


February 5, 2024

Adds 1,280 Acre DSU and 2.6 MMBoe to Existing Denver Julesburg (“DJ”) Basin Portfolio

8 Drill Ready Permitted PUDs with Proven PV10 of ~ $40MM

HOUSTON, TX, Feb. 05, 2024 (GLOBE NEWSWIRE) — 

Source: Reuters

Vital Energy closes second transaction to acquire additional working interests related to recent Permian Basin acquisition

Oil and Gas 360


TULSA, OK, Feb. 05, 2024 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital Energy” or the “Company”) today announced the second acquisition of additional working interests in producing assets associated with the recent asset acquisition …

Source: World Oil

Permian Resources adds 17,000 acres to portfolio following Earthstone Energy acquisition

World Oil


(WO) – Permian Resources Corporation announced a series of recent portfolio optimization transactions consisting of two bolt-on acquisitions, a sizeable acreage swap, a divestiture of non-core assets and additional grassroots acquisitions.

Recent acquisitions. Permian Resources recently executed …

Source: World Oil

Silver Hill Energy Partners enters Bakken with Liberty Resources acquisition

World Oil


WO) – Silver Hill Energy Partners, LP has signed definitive agreements with Liberty Resources II, LLC to acquire Liberty’s interests in oil and gas properties, rights and related assets in North Dakota.

Acquisition highlights. Silver Hill Energy Partners …