Merger

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
Devon, WPX in $12B ‘Merger of Equals,’ Combining Permian, Multi-Basin Portfolios in Lower 48

Devon, WPX in $12B ‘Merger of Equals,’ Combining Permian, Multi-Basin Portfolios in Lower 48

Lower 48 giants Devon Energy Corp. and WPX Energy Inc. said Monday they are tying up in an all-stock transaction valued at $12 billion including debt to create operations dominated by a 400,000 net acre Permian Basin leasehold. The two Oklahoma-based independents said the company, still branded as Devon, would create a “merger of equals”…

September 28, 2020
Virtual Natural Gas Pipeliner to Provide Supply, Services to U.S. Market

Virtual Natural Gas Pipeliner to Provide Supply, Services to U.S. Market

Two Texas-based operators have joined forces to create a virtual pipeline business designed to move compressed and liquefied natural gas (LNG) to customers nationwide. Sapphire Gas Solutions was created by Dallas-based BP Energy Partners (BPEP) affiliate Blue Roads Solutions and Thigpen Solutions, which is based near Houston in Conroe. Sapphire is to provide gas and…

July 1, 2020
Permian’s Parsley, Jagged Peak to Tie Up in $2.27B Merger

Permian’s Parsley, Jagged Peak to Tie Up in $2.27B Merger

Permian Basin explorer Parsley Energy Inc. on Monday agreed to buy private equity-backed Jagged Peak Energy Inc. in an all-stock transaction valued at $2.27 billion.

October 14, 2019

Marathon Petroleum to Combine MPLX, Andeavor in $9B Tie Up

Marathon Petroleum Corp.’s two master limited partnerships (MLP) MPLX LP and Andeavor Logistics LP agreed Wednesday to combine in a transaction with an estimated equity value of $9 billion to enhance midstream prospects across the Lower 48.

May 8, 2019

Amplify, Midstates to Combine in Estimated $720M All-Stock Deal

Houston-based independent Amplify Energy Corp. and Oklahoma’s Midstates Petroleum Co. Inc. have agreed to merge their operations in an all-stock transaction estimated to have an enterprise value of more than $720 million.

May 6, 2019
Appalachian Pure-Play Montage Sets New Strategy with Blue Ridge Merger

Appalachian Pure-Play Montage Sets New Strategy with Blue Ridge Merger

Montage Resources Corp., which emerged on Thursday after Appalachian pure-plays Eclipse Resources and Blue Ridge Mountain Resources officially combined, is aiming for double-digit production growth in the basin this year with a revamped strategy.

March 4, 2019

Avista, Hydro One Drop Merger Plans After State Rejections

Spokane, WA-based Avista Corp. and Canada-based Hydro One Ltd. on Wednesday pulled the plug on their 18-month effort to complete the Toronto electricity giant’s $5.3 billion takeover proposal.

January 24, 2019
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