M&A

Former Rice Energy Inc. CEO Daniel Rice expects renewable natural gas (RNG) to play a bigger role in the energy transition as the push for decarbonization grows. The special purpose acquisition company (SPAC) that he runs, Rice Acquisition Corp., on Wednesday announced plans to merge with landfill gas (LFG) specialists Aria Energy LLC and Archaea…

Consolidation in the U.S. upstream sector slowed to a relative crawl in the first quarter after rallying late in 2020. But there have been signs of increased activity in April and potential catalysts for more deals as the year wears on, according to an Enverus analysis. The oil and gas analytics company’s summary of 1Q2021…

With its takeover of fellow Colorado pure-play HighPoint Resources Corp. now complete, Bonanza Creek Energy Inc. is looking to optimize the combined well completions and midstream gathering needs, according to CEO Eric Greager. Bonanza Creek completed its merger with HighPoint on April 1. The closing allows the Denver-Julesburg (DJ) Basin operator to revamp the overall…

Whitecap Resources Inc. increased its liquids-rich Montney Shale natural gas assets with a C$300 million ($240 million) takeover of private equity-backed Kicking Horse Oil & Gas Ltd.The acquisition includes ownership interests averaging 65% in 92 square miles of Montney production and future drilling targets in the Grande Prairie area of northwest Alberta. “We are excited…

Global investment firm KKR is buying a stake in a Sempra Energy business unit that manages liquefied natural gas (LNG) projects in Mexico and along the U.S. Gulf Coast as it anticipates growth in North American energy infrastructure. Under the terms of the deal announced Monday, KKR will pay  $3.37 billion for a 20% non-controlling…

Dallas-based Pioneer Natural Resources Co., whose focus has long been in the Permian Basin Midland, is plunking down $6.4 billion to build its base with the takeover of West Texas competitor DoublePoint Energy LLC.  The deal, a cash-and-stock split, would add 97,000 net contiguous acres directly offsetting and overlapping Pioneer’s existing footprint. The mostly undrilled…

Lola Energy III LLC has acquired 22,000 net acres of oil and natural gas leases in western Pennsylvania from EdgeMarc Energy Holdings LLC.  Terms of the deal were not disclosed, but Lola said the assets in Butler County are producing 85 MMcfe/d from the Marcellus and Upper Devonian shales.  EdgeMarc was forced to file bankruptcy…

Oasis Petroleum Inc. and Oasis Midstream Partners LP (OMP) on Monday announced a simplification agreement through which OMP is acquiring the producer’s remaining interests in two development companies or “DevCos” that own midstream infrastructure assets in the Bakken Shale and Permian Basin. The agreement follows Oasis’ restructuring and emergence from bankruptcy last November. OMP is…

Houston-based Frank’s International NV agreed Thursday to combine in an all-stock transaction with the UK’s Expro Group, a tie-up that would bring together well experts ready to tackle what they see as growing opportunities. Expro, which would own 65% of the combined entity, is a privately held well access and flow optimization expert that employs…