Merger

Crescent Energy Created in Merger by Lower 48 E&Ps Independence, Contango

Crescent Energy Created in Merger by Lower 48 E&Ps Independence, Contango

Texas-based exploration and production (E&P) firms Independence Energy LLC and Contango Oil & Gas Co. have created Crescent Energy Co. after completing an all-stock transaction. Houston-based Crescent, whose assets are across the Lower 48, had pro forma production of about 119,000 boe/d during 3Q2021. The Independence portfolio spanned the Eagle Ford Shale, Rockies, Permian Basin…

December 10, 2021
Energy Transfer Boosts Natural Gas, Oil Capacity with Enable Acquisition Completed

Energy Transfer Boosts Natural Gas, Oil Capacity with Enable Acquisition Completed

Dallas-based Energy Transfer LP owns and operates another 14,000 miles of natural gas and oil pipeline in Arkansas, Louisiana, Oklahoma and Texas after completing its merger earlier this month with Enable Midstream Partners LP. The $7.2 billion tie-up, first announced in February, strengthens the midstream and gas transportation systems in the Anadarko Basin in Oklahoma,…

December 8, 2021
Altus, EagleClaw Tie-Up to Control 2 Bcf of Natural Gas Transport from Permian to Gulf Coast

Altus, EagleClaw Tie-Up to Control 2 Bcf of Natural Gas Transport from Permian to Gulf Coast

Permian Basin-to-Gulf Coast pipeline giant Altus Midstream Co. has agreed to merge with fellow West Texas operator BCP Raptor Holdco LP in an estimated $9 billion transaction. The combination would operate 2 Bcf/day of cryogenic natural gas processing facilities in the Permian Delaware sub-basin of West Texas, with more than 850,000 acres under fee-based, long-term…

October 25, 2021
Plains All American, Oryx Tie-Up Designed to Boost Permian Connectivity, Reliability

Plains All American, Oryx Tie-Up Designed to Boost Permian Connectivity, Reliability

Focused on enhancing interconnectivity and efficiency, Permian Basin operators Plains All American Pipeline LP and Oryx Midstream Holdings LLC have agreed to merge in a transaction that would bring together 5,500 miles of oil and liquids pipeline systems. The joint venture (JV) would include all of Oryx’s Permian assets. With the exception of a Plains…

July 14, 2021
Bonanza, Extraction Combo Seeking to Become Colorado’s First Oil, Natural Gas Net-Zero Producer

Bonanza, Extraction Combo Seeking to Become Colorado’s First Oil, Natural Gas Net-Zero Producer

Setting up to be Colorado’s largest pure-play, Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc. have agreed to merge in an all-stock transaction valued at around $2.6 billion. The combined exploration and production (E&P) company, to be called Civitas Resources Inc., would operate across roughly 425,000 net acres in the Denver-Julesburg (DJ) Basin.…

May 10, 2021
Enerplus Builds Bakken Stronghold with Takeover of Pure-Play Bruin E&P

Enerplus Builds Bakken Stronghold with Takeover of Pure-Play Bruin E&P

Canadian producer Enerplus Corp. has gained more exposure in North Dakota’s Bakken Shale with a $465 million takeover of Houston-based Bruin E&P HoldCo LLC. The deal announced Monday for the North Dakota assets of the Bakken pure-play is forecast to propel a 20% production jump for Calgary-based Enerplus to a combined 103,500-108,500 boe/d.  The acquired…

January 26, 2021
Devon Completes Permian-Fueled WPX Takeover

Devon Completes Permian-Fueled WPX Takeover

Devon Energy Corp. has completed its all-stock merger of Lower 48 rival WPX Energy Inc., giving the independent an even bigger toehold in the Permian Basin’s Delaware formation. The combined company, operating under the Devon moniker, would continue to be headquartered in Oklahoma City. The takeover of WPX was announced in September.  The transaction gives…

January 8, 2021
Canada’s Cenovus, Husky Cite Synergies in Merger Worth C$23.6B

Canada’s Cenovus, Husky Cite Synergies in Merger Worth C$23.6B

Cenovus Energy Inc. announced Sunday it would take over Canadian oil and gas rival Husky Energy Inc., combining two of the country’s top producers, in a share swap valued at C$3.8 billion ($2.85 billion). Total estimated value of the transaction, including debt, is C$23.6 billion ($17.7 billion). The run rate synergies achieved by the corporate…

October 26, 2020
Pioneer Natural, Parsley Combination Brings Sheffield Leverage

Pioneer Natural, Parsley Combination Brings Sheffield Leverage

Pioneer Natural Resources Co. struck a deal valued at $7.6 billion including debt late Tuesday to join forces with rival Parsley Energy Inc. in the second big Permian Basin tie-up this week. The combined company would hold substantial sway in the Permian, with an estimated 930,000 net acres and with no federal leases. At the…

October 21, 2020
Chevron Completes Noble Energy Acquisition

Chevron Completes Noble Energy Acquisition

Chevron Corp. said Monday that it has completed its acquisition of Noble Energy Inc. after Noble’s shareholders approved the transaction last week. Chevron in July clinched a definitive agreement in an all-stock transaction worth $5 billion that carried a total enterprise value, including debt, of $13 billion. The transaction, which at the time valued Noble…

October 5, 2020
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