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M&A

Laredo Bolts On Permian Midland Acreage in Cash, Stock Swap with Pioneer Natural

Laredo Bolts On Permian Midland Acreage in Cash, Stock Swap with Pioneer Natural

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…

September 21, 2021
Ranger Snags Bundle of Basic Energy’s Lower 48 OFS Assets

Ranger Snags Bundle of Basic Energy’s Lower 48 OFS Assets

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…

September 17, 2021
Warwick Splashes $450M on Rosewood Eagle Ford Assets

Warwick Splashes $450M on Rosewood Eagle Ford Assets

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…

September 16, 2021
Lower 48 E&P Venture, Led by Former California Resources Team, Gets $500M Backing from Kayne Anderson

Lower 48 E&P Venture, Led by Former California Resources Team, Gets $500M Backing from Kayne Anderson

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…

August 20, 2021
Whiting Petroleum Bets on Bakken While Divesting DJ Basin Assets

Whiting Petroleum Bets on Bakken While Divesting DJ Basin Assets

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…

July 22, 2021
Contango Snags ConocoPhillips’ Gassy Wind River Assets for $67M

Contango Snags ConocoPhillips’ Gassy Wind River Assets for $67M

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.…

July 9, 2021
Patterson-UTI Building Alternate-Power Rig Arsenal, Colombia Foothold with Pioneer Energy Takeover

Patterson-UTI Building Alternate-Power Rig Arsenal, Colombia Foothold with Pioneer Energy Takeover

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…

July 6, 2021
Rice-Backed Firm Prowling for Sustainable Energy Deals after $345M IPO

Rice-Backed Firm Prowling for Sustainable Energy Deals after $345M IPO

Former Rice Energy Inc. CEO Daniel Rice is doubling down on the energy transition with the debut of a second sustainability-focused blank-check firm. Rice Acquisition Corp. II (RAC II) raised $345 million in its initial public offering (IPO), which closed last week. The company, founded and led by Rice, plans to use the proceeds to…

June 22, 2021
Northern Oil Bolts-On ‘Trifecta’ of Permian Prospects for $102M

Northern Oil Bolts-On ‘Trifecta’ of Permian Prospects for $102M

Northern Oil and Gas Inc. agreed to spend $102 million to bolt-on prospects in the Permian Basin that cover about 2,900 net acres. The three agreements announced Thursday are from undisclosed sellers for nonoperated assets in Reeves County, TX, and New Mexico’s Lea and Eddy counties. The assets are operated primarily by Colgate Energy LLC,…

June 17, 2021
Cimarex, Cabot Combination ‘Building an Ark, Not a Party Boat’ in Lower 48 Oil, Natural Gas

Cimarex, Cabot Combination ‘Building an Ark, Not a Party Boat’ in Lower 48 Oil, Natural Gas

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…

May 24, 2021
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