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U.S. Oil, Natural Gas M&A Slows in 2022 as Megadeals Dominate

U.S. Oil, Natural Gas M&A Slows in 2022 as Megadeals Dominate

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

January 26, 2023
Matador Snagging More Permian Acreage in $1.6B-Plus Deal to Buy Advance Energy

Matador Snagging More Permian Acreage in $1.6B-Plus Deal to Buy Advance Energy

Matador Resources Co. has bolted on its largest deal yet in the Permian Basin in an agreement to acquire Advance Energy Partners Holdings LLC, with assets in New Mexico and West Texas.  The independent is providing an initial cash payment of  $1.6 billion, with an additional $7.5 million total paid monthly in 2023 if the…

January 25, 2023
Aramco Expanding North, South America Energy Arm with Motiva Trading Takeover

Aramco Expanding North, South America Energy Arm with Motiva Trading Takeover

Saudi Arabia Oil Co., better known as Aramco, is buying the trading unit of U.S. refiner Motiva Enterprises LLC to expand its commodity business across North and South America. Under the agreement, Houston-based Aramco Trading Americas (ATA) would take over Motiva Trading and become the sole supplier and offtaker of Motiva Enterprises, North America’s largest…

January 24, 2023
Vitol Expanding U.S. Upstream Presence with Permian Delaware Acquisition

Vitol Expanding U.S. Upstream Presence with Permian Delaware Acquisition

Swiss commodities giant Vitol Inc. is adding to its Lower 48 upstream portfolio with the acquisition of privately held Delaware Basin Resources LLC (DBR). Vitol affiliate VTX Energy Partners LLC has entered a deal to acquire Midland, TX-based DBR and associated surface and water businesses for an undisclosed sum, management said Thursday. VTX is the…

January 23, 2023
WhiteHawk Eyeing Diversified Natural Gas Sales Points with Haynesville Royalty, Mineral Acquisition

WhiteHawk Eyeing Diversified Natural Gas Sales Points with Haynesville Royalty, Mineral Acquisition

WhiteHawk Energy LLC has entered a deal to acquire a package of Haynesville Shale mineral and royalty assets for up to $105 million, management said Tuesday. The assets cover about 375,000 gross unit acres in northwestern Louisiana, and are operated by exploration and production firms including Southwestern Energy Co., Chesapeake Energy Corp., Aethon Energy Management…

January 17, 2023
West Virginia’s Hope Gas Looks to Acquire Mountain State Unit of Peoples Gas

West Virginia’s Hope Gas Looks to Acquire Mountain State Unit of Peoples Gas

One of West Virginia’s largest natural gas local distribution companies (LDC) is further expanding its customer base in the Mountain State with a new acquisition months after coming under new ownership. Hope Gas Inc. disclosed Tuesday an agreement with Essential Utilities to purchase Peoples Gas WV, which serves 15 counties in the state. The deal…

January 17, 2023
Targa Shelling Out $1B Cash to Boost Permian NGL Pipeline Stake

Targa Shelling Out $1B Cash to Boost Permian NGL Pipeline Stake

Targa Resources Corp. has agreed to purchase Blackstone Energy Partners’ 25% interest in Targa’s Grand Prix natural gas liquids (NGL) pipeline for $1.05 billion in cash plus customary working capital adjustments. The transaction, slated to close during the first quarter, would give Houston-based Targa a 100% ownership position in the 1.0 million b/d capacity pipeline.…

January 6, 2023
Chevron Completes Beyond 6 Takeover, Strengthens RNG Distribution Network

Chevron Completes Beyond 6 Takeover, Strengthens RNG Distribution Network

Chevron Corp. subsidiary Chevron U.S.A. Inc. has finalized the takeover of Beyond 6 LLC and its 55 compressed natural gas (CNG) fueling stations from independent energy commodity group Mercuria Energy Trading.   San Ramon, CA-based Chevron initially said it also would be adding to its U.S. renewable natural gas (RNG) business with a long-term supply agreement…

January 4, 2023
Cactus Paying $621M for FlexSteel to Expand Specialized Oil and Gas Pipeline Technology

Cactus Paying $621M for FlexSteel to Expand Specialized Oil and Gas Pipeline Technology

Onshore oilfield services provider Cactus Inc. has clinched a $621 million agreement to acquire FlexSteel Technologies Holdings Inc., giving it oomph to build out pipeline technologies used during a well’s lifecycle. Houston-based Cactus designs, manufactures, sells and rents a range of wellhead and pressure control equipment primarily for onshore unconventional oil and gas wells throughout…

January 3, 2023
Targa Off to the Races with $1B Grand Prix NGL Pipeline Deal

Targa Off to the Races with $1B Grand Prix NGL Pipeline Deal

Targa Resources Corp. has agreed to purchase Blackstone Energy Partners’ 25% interest in Targa’s Grand Prix natural gas liquids (NGL) pipeline for $1.05 billion in cash plus customary working capital adjustments. The transaction, slated to close during the first quarter, would give Houston-based Targa a 100% ownership position in the 1.0 million b/d capacity pipeline.…

January 3, 2023
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