M&A

Crescent Energy Co. is expanding its Eagle Ford Shale footprint in South Texas with a $250 million cash acquisition, management said. The Houston-based independent is purchasing incremental working interest in its operated Western Eagle Ford assets.  The transaction follows a recent $600 million acquisition of operatorship in the assets that was completed in July. That…

SilverBow Resources Inc. agreed to acquire Sundance Energy Inc. and key assets of SandPoint Operating LLC, a pair of Eagle Ford Shale oil and gas independents, for up to $440 million in total. Houston-based SilverBow, an Eagle Ford pure-play, said Friday it would pay $354 million – plus up to $15 million of contingent payments…

Tulsa-based Laredo Petroleum Inc. has clinched a deal to build out its West Texas leasehold in an estimated $230 million cash-and-stock deal with Pioneer Natural Resources Co. The transaction is for around 20,000 net acres in the Permian Basin’s Midland formation, giving Laredo around 22,200 net acres total in western Glasscock County. The acreage is…

Houston-based Ranger Energy Services Inc. said it has successfully bid to buy some of the Lower 48 assets of Basic Energy Services Inc. for close to $37 million. The deal gives Basic, now in bankruptcy, room to restructure. The Fort Worth, TX-based oilfield services (OFS) provider in August filed for Chapter 11 protection for the…

Oklahoma City-based Warwick Investment Group is bulking up its operated Eagle Ford Shale footprint with the acquisition of oil and gas assets from Rosewood Resources Inc. Warwick said Wednesday it would pay $450 million to purchase and develop the Eagle Ford assets from Rosewood, which is controlled by the wealthy Hunt family. The assets offset…

A recently launched Lower 48-focused energy firm has received a $500 million investment from private equity giant Kayne Anderson Capital Advisors LP. Santa Clarita, CA-based Black Knight Energy LLC was formed earlier this year “to pursue the acquisition and development of large, cash flowing oil and natural gas assets” across the Lower 48, the company…

Citing the current oil and natural gas commodity price environment and what makes the most sense on a capital investment basis, Whiting Petroleum Corp. on Wednesday doubled down on its exploration and production operations in the Bakken Shale of North Dakota. At the same time, it jettisoned all of the company’s oil and natural gas…

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.…

With customer demand rising for super-spec rigs powered by electricity and natural gas, contract drilling giant Patterson-UTI Energy Inc. on Tuesday agreed to trade stock and cash to buy Pioneer Energy Services Corp. for an estimated $295 million. With a fleet of around 150 super-spec, alternating current (AC) rigs, Houston-based Patterson-UTI is one of the…