Acquisition

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…

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 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 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 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…

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…

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…

With the aim of better serving West Coast natural gas markets, midstreamer Tallgrass said Friday it has agreed to purchase Houston-based Ruby Pipeline LLC, which filed for Chapter 11 bankruptcy in March. Tallgrass said the acquisition of the 1.5 Bcf/d line checks two boxes in the company’s current strategy. In addition to enhancing natural gas…

Houston-based Par Pacific Holdings Inc. is snapping up ExxonMobil’s 63,000 b/d Billings, MT, oil refinery and associated assets to expand and diversify its portfolio. The transaction also is to include hydrocarbons and inventory, which would be valued at closing.  Par’s total throughput capacity would increase to 218,000 b/d. More than $30 million in commercial and…