Mexican conglomerate Grupo Carso SAB has bought into another Mexico oil and natural gas field in shallow waters offshore Campeche. Carso subsidiary Zamajal SA de CV would acquire PetroBal SAPI de CV and its 50% interest in the Ichalkil and Pokoch fields. PetroBal is the oil and gas subsidiary of Mexican conglomerate Grupo Bal. The…
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Fury Resources Snapping Up Permian Delaware Producer Battalion for $450M
Privately held Fury Resources Inc. is acquiring publicly traded Permian Basin oil and gas producer Battalion Oil Corp. in a cash deal valued at about $450 million, the companies said Friday. The transaction, slated to close in early 2024, would see Fury acquire all outstanding shares of common stock in Battalion, which operates in the…
Chesapeake Utilities Snaps Up NextEra’s Florida City Gas in $923M Deal
Chesapeake Utilities Corp. has agreed to pay $923 million in cash to acquire NextEra Energy Inc. subsidiary Florida City Gas (FCG), which, once complete, is expected to more than double Chesapeake’s natural gas business in the state. FCG, a subsidiary of NextEra’s Florida Power & Light Co., owns and operates about 3,800 miles of distribution…
Vital Energy’s Permian Triple Play a ‘Game Changer,’ Says CEO
Permian Basin pure-play Vital Energy Inc. is snapping up a bevy of assets concentrated in West Texas through a transformational deal worth an estimated $1.67 billion. The Tulsa-based independent clinched the cash-and-equity deals with affiliates of Henry Energy LP and Henry Resources LLC, as well as Tall City Property Holdings III LLC and Maple Energy…
PE-Backed Peak 10 Buys Upstream Properties in Permian Midland
Investment firm Peak 10 Energy Holdings LP made its inaugural acquisition of assets in the Permian Basin’s Eastern Shelf, expanding its position as it snaps up and works with operators to develop Lower 48 oil and natural gas assets. The private equity (PE)-backed company made its inaugural purchase of acreage in Fisher and Scurry counties,…
Strathcona, Pipestone Deal to Create Canada’s Fifth Largest E&P
Strathcona Resources Ltd. is snapping up fellow Calgary producer Pipestone Energy Corp. and its Montney Shale assets in northwestern Alberta in an all-stock deal that would create Canada’s fifth largest exploration and production (E&P) company. At the current market price of about C$2.40 (US$1.80), the acquisition of Pipestone’s 279 million shares was estimated to be…
Earthstone, NOG Continue Permian Basin Expansion with $1.5B Novo Acquisition
Earthstone Energy Inc. and Northern Oil and Gas Inc. (NOG) are joining forces in the Permian Basin to acquire privately held Novo Oil & Gas Holdings LLC for $1.5 billion. Novo, an exploration and production (E&P) firm backed by EnCap Investments LP, operates in the northern portion of the Permian’s Delaware sub-basin. Earthstone has been…
Matador Boosts Permian Opportunities with $1.6B Advance Takeover
Matador Resources Co. has completed its largest transaction in the Permian Basin with the purchase of Advance Energy Partners Holdings LLC, which has assets in New Mexico and West Texas. Matador paid an initial $1.6 billion for the company. In addition, the independent agreed to pay $7.5 million monthly this year if the average West…
With $1.1B EnVen Takeover, Talos Positions for ‘More Competitive’ CCS Business
Talos Energy Inc. has completed its merger with EnVen Energy Corp., expanding its Gulf of Mexico (GOM) footprint and positioning the independent to advance the growing carbon capture and sequestration (CCS) business. After completing the sale, Talos reported it had an outstanding market capitalization of about $2.5 billion and more than 126 million shares of…
West Virginia’s Hope Gas Looks to Acquire Mountain State Unit of Peoples Gas
One of West Virginia’s largest natural gas local distribution companies (LDC) is further expanding its customer base in the Mountain State with a new acquisition months after coming under new ownership. Hope Gas Inc. disclosed Tuesday an agreement with Essential Utilities to purchase Peoples Gas WV, which serves 15 counties in the state. The deal…