Mergers, Acquisitions & Divestitures

Baker Hughes sells PSI product line to Crane Company for $1.15 billion

June 9, 2025

(World Oil) – Baker Hughes has reached an agreement to sell its Precision Sensors & Instrumentation (PSI) product line to Crane Company, a diversified manufacturer of engineered industrial products, for a total cash consideration of approximately $1.15 billion. PSI, part of Baker Hughes’ Industrial & Energy Technology (IET) segment, includes the Druck, Panametrics and Reuter-Stokes brands. These brands manufacture instrumentation and

Vermilion Energy exits U.S. market with $88 million asset sale

June 6, 2025

Publisher’s Note: Vermilion Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025. Register to attend. (World Oil) – Vermilion Energy Inc. has entered into a definitive agreement for the sale of its U.S. assets for cash proceeds of ~$88 million ($120 million CAD). Proceeds from the transaction will go towards debt repayment to further accelerate deleveraging efforts and

Activist investor Engine Capital plans to vote against US$9.1B Parkland-Sunoco deal

June 6, 2025

(BOE Report) – CALGARY – A major shareholder in fuel refiner and retailer Parkland Corp. says it plans to vote against its planned takeover by U.S. heavyweight Sunoco LP. Engine Capital owns 2.5 per cent of Parkland’s shares, making it one of the Calgary-based company’s biggest investors. In a letter to Parkland’s board of directors, Engine’s leadership argues the Sunoco deal

Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., to Acquire Sitio Royalties Corp. in All-Equity Transaction; Increases Base Dividend

June 3, 2025

(Oil & Gas 360) – MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), and Sitio Royalties Corp. (NYSE:STR) (“Sitio”) today announced that they have entered into a definitive agreement under which Viper will acquire Sitio in an all-equity transaction valued at approximately $4.1 billion, including

EOG Resources to Acquire Encino Acquisition Partners from CPP Investments and Encino Energy, Strengthening Premier Utica Asset; Increases Regular Dividend 5%

May 30, 2025

(Oil & Gas 360) – Publisher’s Note: EOG Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025. Register to attend. HOUSTON, May 30, 2025 /PRNewswire/ — EOG Resources, Inc. (EOG) today announced a definitive agreement with Canada Pension Plan Investment Board (CPP) and Encino Energy under which EOG will acquire Encino Acquisition Partners (EAP or Encino) for $5.6 billion, inclusive

Strathcona formally launches takeover bid for oilsands peer MEG Energy

May 30, 2025

(BOE Report) – CALGARY – Strathcona Resources Ltd. has begun its formal takeover bid for fellow oilsands producer MEG Energy. Its offer comprises 0.62 of a common share of Strathcona and $4.10 in cash for each MEG share it doesn’t already own. The offer is open until Sept. MEG says its board and legal and financial advisers will consider the offer, and that a

Cheniere Signs Long-Term Integrated Production Marketing Agreement with Canadian Natural Resources Limited

May 28, 2025

(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)– Cheniere Energy, Inc. (“Cheniere”) (NYSE: LNG) announced today that its subsidiary, Cheniere Marketing, LLC (“Cheniere Marketing”), has entered into a long-term Integrated Production Marketing (“IPM”) gas supply agreement with Canadian Natural Resources Limited. Under the IPM agreement, a subsidiary of Canadian Natural Resources Limited has agreed to sell 140,000 MMBtu per day of

Exxon Mobil to sell French subsidiary Esso to Canadian energy group

May 28, 2025

(BOE Report) – Energy major ExxonMobil has entered into exclusive negotiations with the French unit of Canadian energy group North Atlantic to divest its majority-owned French subsidiary Esso, it said on Wednesday. The sale is expected to take place in the last quarter of this year, at a price of 149.19 euros ($168.82) per Esso share before distributions, or 32.83

US oil M&A slide from 2023 highs as buyers focus on value over volume

May 20, 2025

(BOE Report) – Dealmaking in the U.S. oil patch has slowed to a crawl in 2025, with the activity expected to stay muted for the rest of the year, as some prolific buyers focus on squeezing out value from their past acquisitions, while others curb their appetite for takeovers due to weak oil prices and trade uncertainty. Oil companies have

Strathcona announces sale of Montney business for $2.84 billion and acquisition of Hardisty Rail Terminal

May 15, 2025

(Oil & Gas 360) – Calgary, Alberta (May 14, 2025) – Strathcona Resources Ltd. (“Strathcona” or the “Company”) (TSX: SCR) is pleased to announce that it has entered into definitive agreements to sell substantially all of its Montney assets for approximately $2.84 billion, pursuant to three separate transactions: The sale of its Kakwa asset (the “Kakwa Sale”) to ARC Resources Ltd. for

ADNOC Drilling CFO sees $500 million of acquisitions this year

May 12, 2025

(World Oil) – The drilling unit of the United Arab Emirates’ biggest oil company expects to make three acquisitions in the second half of this year totaling about $500 million, as it expands in technology and hardware to bolster growth. Two of the deals will be for businesses developing artificial intelligence applications, ADNOC Drilling Co. Chief Financial Officer Youssef Salem said

NRG Energy to buy $12 billion worth of assets amid power demand supercycle

May 12, 2025

(Oil Price) – NRG Energy will buy a portfolio of gas-fired power generation facilities valued at $12 billion from LS Power Equity Advisors, as the Houston-based firm bets on the growing U.S. electricity demand. The deal for the portfolio of natural gas generation facilities and a commercial and industrial virtual power plant (C&I VPP) platform from LS Power will be a

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