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ConocoPhillips’ Takeover of Shell’s Permian Stakes Leads 3Q Dealmaking, Says Enverus

ConocoPhillips’ Takeover of Shell’s Permian Stakes Leads 3Q Dealmaking, Says Enverus

U.S. upstream dealmaking during 3Q2021 slid from the record-setting sequential activity, but the overall values transacted still topped the five-year quarterly average, according to Enverus. Merger and acquisition (M&A) activity during 3Q2021 by U.S. exploration and production (E&P) companies was down 44% from 2Q2021.  However, the $18.5 billion transacted overall was above the quarterly five-year…

October 12, 2021
Diversified Energy to Acquire Oklahoma Natural Gas Assets in $419M Transaction

Diversified Energy to Acquire Oklahoma Natural Gas Assets in $419M Transaction

Diversified Energy Co. plc will continue its Lower 48 expansion, this time into the Midcontinent, through an acquisition of natural gas-weighted Oklahoma assets from Tapstone Energy Holdings LLC. Diversified, in partnership with Oaktree Capital Management LP, has entered into conditional agreements to acquire upstream assets, field infrastructure, equipment and facilities in Oklahoma from Tapstone for…

October 8, 2021
Comstock to Exit Bakken for $154M, Boost Gassy Haynesville Completions

Comstock to Exit Bakken for $154M, Boost Gassy Haynesville Completions

Comstock Resources Inc. plans to fund a boost in completions activity at its Haynesville Shale assets in Louisiana and Texas using the proceeds from selling properties in North Dakota. The Frisco, TX-based independent said Thursday it would exit the Bakken Shale, selling its assets to Northern Oil & Gas Inc. for $154 million in cash.…

October 8, 2021
Earthstone Beefs up Permian Midland Basin Footprint with $73.2M Acquisition

Earthstone Beefs up Permian Midland Basin Footprint with $73.2M Acquisition

Permian Basin-focused independent Earthstone Energy Inc. said Monday it would boost its footprint in the area with a $73.2 million acquisition. The company is buying the assets in the Midland sub-basin from two undisclosed sellers for a mix of stock and $49.2 million in cash. The deal is expected to close in the middle of…

October 4, 2021
Stonepeak Expanding Natural Gas Reach by Taking Teekay LNG Private in $6.2B Deal

Stonepeak Expanding Natural Gas Reach by Taking Teekay LNG Private in $6.2B Deal

Private investment firm Stonepeak Infrastructure Partners is expanding its reach in the liquefied natural gas (LNG) shipping space with the takeover of Teekay LNG in a transaction valued at $6.2 billion. The deal announced Monday would give New York-based Stonepeak access to the third-largest LNG carrier fleet in the world. Teekay owns or has stakes…

October 4, 2021
Cimarex, Cabot Complete Merger, Rebrand as Coterra Energy

Cimarex, Cabot Complete Merger, Rebrand as Coterra Energy

U.S. independents Cimarex Energy Co. and Cabot Oil & Gas Corp. have completed their closely watched merger, bringing together more than 700,000 net acres across the Marcellus Shale and the Permian and Anadarko Basins. The previously announced transaction was completed on Friday after both companies’ shareholders approved it earlier this week. The combined company operates…

October 1, 2021
Permian Oil, Natural Gas Essential through Global Energy Transition, Says ConocoPhillips CEO

Permian Oil, Natural Gas Essential through Global Energy Transition, Says ConocoPhillips CEO

The decision to plunk down $9.5 billion to purchase Royal Dutch Shell plc’s Permian Basin assets is going to give ConocoPhillips a bountiful and low-cost supply that will be necessary as the world evolves toward a low-carbon future, CEO Ryan Lance said.  The mega deal announced late Monday is for Shell’s West Texas portfolio within…

September 23, 2021
ConocoPhillips Vows to Sweeten Returns, Reduce Carbon in Buying Shell’s Permian Leasehold

ConocoPhillips Vows to Sweeten Returns, Reduce Carbon in Buying Shell’s Permian Leasehold

Strike while the iron is hot, ConocoPhillips CEO Ryan Lance said Tuesday of the decision to pay $9.5 billion for Royal Dutch Shell plc’s Permian Basin portfolio. The world’s largest exploration and production (E&P) company late Monday agreed to buy Shell’s West Texas portfolio, spread across 225,000 net acres of private land in the Delaware…

September 21, 2021
ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

Houston-based ConocoPhillips on Monday agreed to pay $9.5 billion to buy Royal Dutch Shell plc’s Permian Basin portfolio, which a Shell executive said reflected “our focus on value over volumes” as it accelerates its energy transition from fossil fuels. Shell’s Permian business includes ownership in 225,000 net acres with current production of around 175,000 boe/d.…

September 20, 2021
Boardwalk Pipeline Targets Southwest Louisiana with Varibus Deal

Boardwalk Pipeline Targets Southwest Louisiana with Varibus Deal

Boardwalk Pipeline Partners LP is boosting its footprint in Louisiana with the acquisition of natural gas pipeline assets from Varibus LLC. The Houston-based midstreamer said last week its newly formed subsidiary Boardwalk Louisiana Gas Transmission LLC acquired the assets for an undisclosed sum earlier this month. Details on the transaction were scarce, but Boardwalk said…

September 20, 2021
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