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Permian Heavyweights Diamondback, Endeavor Joining Forces in $26B Merger

Permian Heavyweights Diamondback, Endeavor Joining Forces in $26B Merger

Diamondback Energy Inc. is merging with privately held Endeavor Energy Resources LP to create a Permian Basin juggernaut in a $26 billion cash and stock transaction, the companies said Monday. Upon joining forces, the two Midland, TX-based independents would boast about 830,000 net acres and 816,000 boe/d of combined net production. The merger, expected to…

February 12, 2024
MPLX Exploring Organic Growth Opportunities in Permian, Marcellus and Utica

MPLX Exploring Organic Growth Opportunities in Permian, Marcellus and Utica

MPLX LP management said its 2024 growth outlook is anchored in the Permian Basin and Marcellus Shale, which provide steady sources of opportunities, particularly around natural gas and natural gas liquids (NGL) assets. It also sees potential in the Utica Shale. “We plan to continue growing these operations through organic projects, investment in our Permian…

February 5, 2024
APA Joining E&P Merger Parade with Takeover of Permian-Focused Callon

APA Joining E&P Merger Parade with Takeover of Permian-Focused Callon

Houston’s APA Corp., which in recent years has pursued overseas oil and gas prospects, is storming back to the Permian Basin with a $4.5 billion all-stock takeover of Callon Petroleum Co. APA, long a Permian exploration and production (E&P) stalwart, already has a broad portfolio in the Midland and Delaware formations. In the Delaware, where…

January 4, 2024
Fury Resources Snapping Up Permian Delaware Producer Battalion for $450M

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…

December 18, 2023
Permian Resources, Earthstone Tie-Up Creating Giant E&P Footprint in New Mexico Delaware

Permian Resources, Earthstone Tie-Up Creating Giant E&P Footprint in New Mexico Delaware

Permian Resources Corp. and Earthstone Energy, Inc. on Monday agreed to combine in a $4.5 billion transaction to create a Delaware sub-basin exploration and production (E&P) independent with 400,000-plus net acres and pro forma natural gas and oil output of 300,000 boe/d. Permian Resources was formed last year in a $7 billion merger between Centennial…

August 21, 2023
After Dealmaking, Crestwood Looking to ‘Big Year’ in Permian, Williston

After Dealmaking, Crestwood Looking to ‘Big Year’ in Permian, Williston

After a series of acquisitions, Crestwood Equity Partners LP is now in “harvest mode,” with a focus on generating strong growth in the core areas of the Williston, Permian Delaware and Powder River basins, management said. Crestwood earlier this month closed on the acquisition of Permian-focused Sendero Midstream Partners LP, boosting its natural gas processing…

July 29, 2022
PDC Energy to Acquire DJ-Focused Great Western for $1.3B

PDC Energy to Acquire DJ-Focused Great Western for $1.3B

PDC Energy Inc. said Monday it agreed to buy Denver-Julesburg (DJ) Basin operator Great Western Petroleum LLC in a $1.3 billion cash-and-stock deal that would “materially” boost its holdings in Colorado’s Wattenberg field. The Denver-based PDC said the deal, which includes $500 million in net debt, would be financed by issuing about four million shares…

February 28, 2022
Earthstone Builds West Texas Portfolio in $860M Deal for Permian Private Bighorn

Earthstone Builds West Texas Portfolio in $860M Deal for Permian Private Bighorn

Permian Basin pure-play Earthstone Energy Inc. is on an acquisition tear,  announcing Monday it is scooping up West Texas-focused private Bighorn Permian Resources LLC for around $860 million. Earthstone, headquartered in The Woodlands north of Houston, agreed to pay $770 million cash and trade 6.8 million shares valued at $90 million for the Permian Midland…

January 31, 2022
Crestwood Expanding in Williston, Permian with $1.8B Oasis Midstream Takeover

Crestwood Expanding in Williston, Permian with $1.8B Oasis Midstream Takeover

Crestwood Equity Partners LP said Tuesday it has agreed to pay $1.8 billion in equity and cash, including debt, for Oasis Midstream Partners LP, expanding its foothold in two of the Lower 48’s prized oil basins.  The deal expands Crestwood’s midstream footprint in the Williston Basin and the Permian Basin’s Delaware sub-basin. The firms said…

October 26, 2021
Permian Delaware Producers, Midstreamers Said Struggling to Control Methane Emissions

Permian Delaware Producers, Midstreamers Said Struggling to Control Methane Emissions

Aerial methane measurements taken during August in the Permian Basin indicate the oil and gas industry continues to have issues in controlling flaring and venting, the Environmental Defense Fund (EDF) said Thursday. The EDF’s ongoing Permian Methane Analysis Project, aka PermianMAP, is collecting methane emissions from the air, via towers and on the ground across…

September 24, 2021
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