Consolidation

Ranger Energy Services Inc. has further boosted its wireline presence in the Lower 48 following the acquisition of PerfX Wireline Services, its second takeover since May.  The Houston-based oilfield services company said last week it had acquired Minot, ND-based  PerfX in an all-stock deal. The deal follows the acquisition of Patriot Completions Solutions LLC in…

After a cold start to the year, North American upstream merger and acquisition (M&A) activity heated up in the second quarter, with U.S. dealmaking alone hitting more than 40 deals valued at around $33 billion. Energy data analytics expert Enverus on Monday issued its 2Q2021 report on U.S. exploration and production (E&P) activity. Finbrook Pte…

U.S. independent Contango Oil & Gas Co. plans to boost its natural gas production by more than half later this year with the acquisition of ConocoPhillips’ conventional assets in Wyoming’s Wind River Basin for $67 million. The assets are estimated to have a net production run rate of about 78 MMcfe/d as of July 1.…

Eagle Ford pure-play Hawkwood Energy LLC is set to be acquired by private equity-backed platform WildFire Energy I LLC, the firms announced Thursday. The transaction, slated to close in the third quarter, values Denver-based Hawkwood at about $650 million.  Hawkwood’s liquids-weighted gross production currently stands at about 15,000 boe/d, spanning 160,000 net acres in the…

If all goes to plan, Civitas Resources Inc. could become a giant among giants in the Colorado oil and natural gas world as it looks to merge another Denver Julesburg (DJ) Basin producer into its operations. DJ pure-plays Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc. agreed to merge in early May. That…

Calgary takeover target Inter Pipeline Ltd. rejected a second uninvited bid Thursday by Toronto-based Brookfield Infrastructure Partners. Inter Pipeline said a combination announced Tuesday (June 1) with Calgary-based Pembina Pipeline Corp. would be a better industrial match with growth prospects. Both firms have pipeline, processing and storage networks, and Inter Pipeline is building a new…

Pembina Pipeline Corp. will take over Inter Pipeline Ltd. in an agreement announced Tuesday to combine their Calgary-based western Canadian delivery, processing and storage networks for natural gas, liquid byproducts, oil and petrochemicals. The all-stock deal values Inter Pipeline at C$8.3 billion ($6.6 billion), topping a rejected bid from Brookfield Infrastructure Corp. in Toronto by…

Appalachia-focused natural gas producer Diversified Energy Co. plc on Friday announced its second transaction in as many months to expand into a different gassy region of the United States. Birmingham, AL-based Diversified said it has entered into a conditional agreement to acquire upstream assets in the Barnett Shale of North Texas from Blackbeard Operating LLC…

Cimarex Energy Co. and Cabot Oil & Gas Corp. on Monday agreed to combine in an all-stock merger, tying together their extensive operations in the Marcellus Shale, Permian and Anadarko basins. Denver-based Cimarex controls 560,000 net acres combined in the Permian and Anadarko, while Houston-based Cabot has 173,000 net acres in the Marcellus. Cabot CEO…