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Penn Virginia Looking to Lonestar to Build Eagle Ford Oil, Gas Potential

Penn Virginia Looking to Lonestar to Build Eagle Ford Oil, Gas Potential

Eagle Ford Shale pure-play Penn Virginia Corp. has agreed to buy Lonestar Resources Inc. in a deal that would expand its South Texas leasehold. Once completed, the Houston-based independent would control 143,000 net acres within the Eagle Ford, including Lonestar’s 53,000 net acres. Total sales volumes would be around 38,000 boe/d, up by about 13,000. …

July 13, 2021
Dominion Seeking New Buyer for Questar Natural Gas Assets After Scrapping Berkshire Hathaway Deal

Dominion Seeking New Buyer for Questar Natural Gas Assets After Scrapping Berkshire Hathaway Deal

Dominion Energy is looking for a new buyer of its Questar Pipelines after a deal to sell the Rockies natural gas transmission and storage assets to an affiliate of Berkshire Hathaway Inc. was scuttled. Dominion and Berkshire Hathaway Energy jointly announced the decision to terminate the deal on Monday, citing the “ongoing uncertainty associated with…

July 13, 2021
Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Energy Services Inc. has further boosted its wireline presence in the Lower 48 following the acquisition of PerfX Wireline Services, its second takeover since May.  The Houston-based oilfield services company said last week it had acquired Minot, ND-based  PerfX in an all-stock deal. The deal follows the acquisition of Patriot Completions Solutions LLC in…

July 12, 2021
U.S. Oil, Natural Gas M&A on Torrid Pace in 2Q, while Canada Led International Dealmaking

U.S. Oil, Natural Gas M&A on Torrid Pace in 2Q, while Canada Led International Dealmaking

After a cold start to the year, North American upstream merger and acquisition (M&A) activity heated up in the second quarter, with U.S. dealmaking alone hitting more than 40 deals valued at around $33 billion. Energy data analytics expert Enverus on Monday issued its 2Q2021 report on U.S. exploration and production (E&P) activity. Finbrook Pte…

July 12, 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
PE-Backed WildFire Energy Acquiring Eagle Ford Pure-Play Hawkwood in $650M Deal

PE-Backed WildFire Energy Acquiring Eagle Ford Pure-Play Hawkwood in $650M Deal

Eagle Ford pure-play Hawkwood Energy LLC is set to be acquired by private equity-backed platform WildFire Energy I LLC, the firms announced Thursday. The transaction, slated to close in the third quarter, values Denver-based Hawkwood at about $650 million.  Hawkwood’s liquids-weighted gross production currently stands at about 15,000 boe/d, spanning 160,000 net acres in the…

July 9, 2021
Williams, Crowheart JV Eyes Increased Natural Gas Production in Wyoming’s Green River Basin

Williams, Crowheart JV Eyes Increased Natural Gas Production in Wyoming’s Green River Basin

With an eye on increased development activity in Wyoming’s Wamsutter field, Williams is teaming with Denver-based Crowheart Energy in a joint venture (JV) that consolidates more than 1.2 million net acres across the tight natural gas reservoir. The tie-up combines the legacy Crowheart, BP plc and Southland Royalty Co. LLC upstream assets into one contiguous…

July 7, 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
Williams Expands U.S., Canada Natural Gas Marketing Footprint with Sequent Acquisition

Williams Expands U.S., Canada Natural Gas Marketing Footprint with Sequent Acquisition

Tulsa-based midstreamer Williams said Thursday it completed its purchase of Sequent Energy Management LP and Sequent Energy Canada Corp. from Atlanta utility Southern Company. Sequent is among North America’s largest natural gas marketers by sales volumes, seventh to be precise, at 7.1 Bcf/d according to NGI’s 1Q2021 Top North American Natural Gas Marketers Rankings.  The…

July 1, 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
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