acquisition – Oil & Gas 360

Transocean to acquire Valaris in $5.8-billion deal, creating offshore drilling giant

February 9, 2026

(World Oil) – Transocean Ltd. has agreed to acquire offshore driller Valaris Ltd. in an all-stock transaction valued at approximately $5.8 billion, creating what the companies say will be the world’s highest-specification offshore drilling fleet and one of the largest global offshore contractors. The combined company will have an implied enterprise value of about $17 billion and a pro forma market capitalization of

Harbour Energy enters U.S. Gulf with strategic $3.2 billion acquisition

December 22, 2025

(Oil Price)– Harbour Energy has agreed to buy Louisiana-based privately-held LLOG Exploration Company for $3.2 billion in a strategic deal that will establish a foothold for the UK-based oil and gas producer in the deepwater U.S. Gulf of Mexico. Harbour Energy on Monday announced that it has entered into an agreement to acquire LLOG Exploration Company LLC from LLOG Holdings LLC for

US investor group Kimmeridge offers $6 billion for gas driller Ascent Resources, FT reports

December 16, 2025

(BOE Report)– Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the Financial Times reported on Tuesday. The bid is the latest challenge to Ascent’s private equity backer Energy & Minerals Group’s (EMG) efforts to sell a more than 30% stake in the company from one of its funds to another, valuing Ascent

TotalEnergies divests 10% stake in Malaysia’s SK408 gas block to PTTEP

December 16, 2025

(World Oil)– TotalEnergies has completed the sale of an indirect 9.998% interest in Malaysia’s SK408 offshore gas block to PTTEP, strengthening the companies’ long-standing partnership while allowing TotalEnergies to optimize its upstream portfolio in the country. Following the transaction, TotalEnergies retains a 30.002% working interest in SK408 and remains operator of the block, which is considered a key contributor to Malaysia’s domestic

China and Iran seal oil-for-infrastructure deal to bypass U.S. sanctions

October 10, 2025

(Oil Price)– China has formalized a barter-style framework with Iran in which crude oil is exchanged for infrastructure projects (from rail lines and ports to industrial works) rather than cash. The volumes involved are substantial: Beijing already imports an estimated 1.4 to 1.6 million barrels per day of Iranian crude, much of it under disguised labels. The new structure secures

Berkshire Hathaway Inc. to Acquire OxyChem

October 2, 2025

(Oil & Gas 360) – Berkshire Hathaway (NYSE: BRK) and Occidental (NYSE: OXY) today announced a definitive agreement for Berkshire Hathaway to acquire Occidental’s chemical business, OxyChem, in an all-cash transaction for $9.7 billion, subject to customary purchase price adjustments. OxyChem is a global manufacturer of commodity chemicals vital to quality of life, with applications in water treatment, pharmaceuticals, healthcare and

Diversified Energy acquires Canvas in $550 million deal to boost Oklahoma production

September 9, 2025

(World Oil)– Diversified Energy Company Plc will acquire Canvas Energy in a $550 million deal that significantly expands the company’s producing assets and acreage positions in Oklahoma. Approximately 23 high-quality producing wells are included in the acquisition. The deal complements Diversified’s existing Oklahoma asset portfolio and is underpinned by high EBITDA margins(a) of ~70%, contributing an estimated $155 million of

Strathcona seeks to block $5.7 billion Cenovus deal to buy MEG Energy

August 29, 2025

(Oil Price)– Previously rejected MEG Energy bidder Strathcona Resources intends to buy an additional 5% stake in MEG and vote these shares and the existing 9.2% stake against the Cenovus acquisition offer for MEG, as the latest major Canadian deal faces hurdles towards completion. Last week, Cenovus Energy announced it has entered into a definitive arrangement agreement to acquire MEG Energy Corp

Baker Hughes to acquire chart industries, accelerating energy & industrial technology strategy

July 29, 2025

(Oil and Gas 360)– HOUSTON and LONDON and ATLANTA, July 29, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR) and Chart Industries (NYSE: GTLS) (“Chart”) announced Tuesday they have entered into a definitive agreement under which Baker Hughes will acquire all outstanding shares of Chart’s common stock for $210 per share in cash, equivalent to a total enterprise value of

Vitesse Energy completes $222 million acquisition of Lucero Energy

March 7, 2025

(World Oil) – Vitesse Energy announced today the completion of its previously announced acquisition of Lucero Energy. The arrangement was approved by Vitesse stockholders and Lucero shareholders on March 5, 2025 and March 6, 2025, respectively, and Lucero received the approval of the Court of King’s Bench of Alberta on March 6, 2025. The addition of Lucero’s operations will enable

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