Acquisition

ConocoPhillips Selling Anadarko Basin Producing Wells to Diversified

ConocoPhillips Selling Anadarko Basin Producing Wells to Diversified

Diversified Energy Co. plc said Thursday it is acquiring about 1,500 producing Midcontinent wells from ConocoPhillips. The $240 million Anadarko Basin bolt-on, funded with existing cash and debt, would expand Diversified’s Oklahoma and Texas footprint in the company’s Central Region. The former Appalachian Basin pure play also holds assets in the gassy Barnett and Haynesville…

July 29, 2022
Pickering Energy Eyeing $300M Capital Deployment for Permian Oil, Natural Gas Interests

Pickering Energy Eyeing $300M Capital Deployment for Permian Oil, Natural Gas Interests

Pickering Energy Partners (PEP) said Wednesday it is looking to acquire and develop Permian Basin oil and gas interests alongside public and private operators. The new entity, PEP Development, was formed in alliance with “a large institutional investor” to focus on deploying at least $300 million of equity capital, said the Houston-based financial services and…

July 15, 2022
Earthstone’s Permian Conquest Marches On with $627M Titus Acquisition

Earthstone’s Permian Conquest Marches On with $627M Titus Acquisition

Earthstone Energy Inc. is continuing its Permian Basin acquisition spree with plans to purchase the assets of privately held Titus Oil & Gas Production LLC in the New Mexico portion of the Permian Basin in a $627 million cash-and-stock deal. Located in the northern portion of the Delaware sub-basin, the assets produced 31,800 boe/d (65%…

July 1, 2022
Targa Strikes $3.5B Deal to Buy Lucid, Expand Permian Delaware Footprint

Targa Strikes $3.5B Deal to Buy Lucid, Expand Permian Delaware Footprint

Houston-based Targa Resources Corp. has clinched an agreement to buy Lucid Energy Group’s Permian Basin Delaware natural gas processing business, which would add 1,050 miles of pipeline and 1.4 Bcf/d of capacity.The all-cash deal for Lucid Energy Delaware LLC, valued at $3.55 billion, was reached with sponsors Riverstone Holdings LLC and Goldman Sachs Asset Management.…

June 17, 2022
Colorado’s PDC Raising Capex, Production Forecasts Following Great Western Acquisition

Colorado’s PDC Raising Capex, Production Forecasts Following Great Western Acquisition

Denver-based independent PDC Energy Inc. has updated its 2022 production and spending guidance to the high side, citing year-to-date performance and the timing of closing its acquisition of Great Western Petroleum LLC. PDC snapped up Great Western, a privately held operator focused on Colorado’s Wattenberg field, in a $1.3 billion cash-and-stock deal announced in February.…

May 27, 2022
Targa Consolidating Permian Natural Gas Gathering Footprint with Southcross Acquisition

Targa Consolidating Permian Natural Gas Gathering Footprint with Southcross Acquisition

Targa Resources Corp. said Thursday it has signed agreements to acquire Southcross Energy Operating LLC and its subsidiaries in South Texas for $200 million in a deal that will consolidate Targa’s natural gas gathering and processing footprint. The Southcross assets include a currently idle 200 MMcf/d natural gas processing plant, Houston-based Targa said. Through the…

March 18, 2022
Civitas Grabs Bigger DJ Foothold with Takeover of Bison Oil

Civitas Grabs Bigger DJ Foothold with Takeover of Bison Oil

Denver-based Civitas Resources Inc., the largest oil and natural gas producer in the Denver-Julesburg (DJ) Basin, has added another trophy to its portfolio by snapping up Bison Oil & Gas II LLC in a cash-and-stock swap worth an estimated $346 million. Once the transaction is completed, now expected by the end of March, the takeover…

February 9, 2022
EnCap-Backed Clearfork Gains Entry into Haynesville with Azure Acquisition

EnCap-Backed Clearfork Gains Entry into Haynesville with Azure Acquisition

Fort Worth, TX-based Clearfork Midstream LLC said Tuesday it plans to acquire Azure Midstream Energy LLC, giving it entry into the core areas of the Haynesville Shale in North Louisiana and East Texas. The price was not disclosed for the takeover, which was funded by Clearfork sponsor EnCap Flatrock Midstream LLC (EFM). The private equity…

January 19, 2022
Harvest Midstream Expanding Eagle Ford Oil Services with Arrowhead Acquisition

Harvest Midstream Expanding Eagle Ford Oil Services with Arrowhead Acquisition

Harvest Midstream is poised to take full ownership of some South Texas crude oil transportation and logistics assets as it seeks to expand services for upstream and downstream customers in the Eagle Ford Shale. The privately held midstream company announced a purchase and sale agreement to acquire the remaining 75% stake in Arrowhead ST Holdings…

January 14, 2022
U.S. Upstream Dealmaking Fueled by Permian, Haynesville

U.S. Upstream Dealmaking Fueled by Permian, Haynesville

The Permian Basin and natural gas-rich Haynesville Shale accounted for nearly all of the upstream transactions in the final three months of 2021, but dealmaking overall was down sharply from the third quarter, Enverus reported. The value of Lower 48 merger and acquisition (M&A) activity between exploration and production (E&P) companies totaled $9 billion in…

January 14, 2022
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