(World Oil) – Citadel made one of its biggest investments yet in the physical U.S. natural gas market, expanding in one of its most profitable business areas. The hedge fund, led by Ken Griffin, agreed to buy assets from closely held Paloma Natural Gas LLC in a deal valued at about $1 billion, people familiar with the matter said. The acquisition
(World Oil) – Crescent Energy Company announced the closing of its acquisition of Central Eagle Ford assets from Ridgemar Energy for upfront consideration of $905 million, consisting of $830 million in cash and 5,454,546 shares of Class A common stock, plus future oil price contingent consideration, subject to customary purchase price adjustments. Crescent plans to provide 2025 guidance reflecting the acquisition
(World Oil) – Ovintiv has closed its previously announced acquisition of certain Montney assets from Paramount Resources Ltd. The acquisition adds approximately 70 thousand barrels of oil equivalent per day (MBOE/d) of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, strategically located near the Ovintiv’s current Montney operations with ample access to midstream infrastructure
(Oil Price) – Mergers and acquisitions in the U.S. upstream oil and gas industry hit $105 billion in 2024, the third-highest annual total ever, energy analytics firm Enverus has revealed. However, last year’s tab came in well below a whopping $192 billion worth of tie-ups completed in 2023, which included the $60 billion acquisition of Pioneer Natural Resources by Exxon Mobil Corp. (NYSE:XOM). Earlier, Enverus predicted that
(Yahoo Finance) – Northern Oil and Gas has made an acquisition offer for Granite Ridge Resources, a smaller U.S. producer with operations in basins including the Permian and Eagle Ford, according to people familiar with the matter. Minneapolis, Minnesota-based Northern has submitted at least two offers for Granite Ridge, the sources said, adding the latest bid, made in recent weeks, was
(World Oil) – Nigerian regulators approved the sales of units of Eni SpA and Equinor ASA after months of delay as oil majors continue exiting operations in the West African nation. The acquisitions of Eni’s Nigerian Agip Oil Company Ltd. by Oando and those of Equinor by Project Odinmim Investments Ltd. were announced at an industry event Wednesday in Abuja.
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