M&A

Calgary-based drilling contractor Precision Drilling Corp. is merging its drilling operations with cross-town rival CWC Energy Services Corp., a deal designed to boost the North American rig fleet. The cash-and-stock transaction is worth an estimated C$141 million ($104 million). Precision said it would trade 948,000 of shares, valued at C$88 million ($65 million), as well…

Crescent Energy Co. is expanding its Eagle Ford Shale footprint in South Texas with a $250 million cash acquisition, management said. The Houston-based independent is purchasing incremental working interest in its operated Western Eagle Ford assets.  The transaction follows a recent $600 million acquisition of operatorship in the assets that was completed in July. That…

Calgary-based natural gas producer Peyto Exploration & Development Corp. is poised to substantially expand its natural gas position in the Deep Basin of Western Canada with a $468 million cash acquisition of Repsol SA’s upstream Canada business. The deal would add 455,000 net acres with an average working interest of 65% in the greater Edson…

Western Midstream Partners LP (WES) has signed a deal to acquire privately held Meritage Midstream Services II LLC in an all-cash, $885 million transaction.  Denver-based Meritage owns and operates an extensive natural gas gathering and processing (G&P) business in the Powder River Basin (PRB) of Wyoming. The assets, located in Converse, Campbell and Johnson counties,…

Enbridge Inc. agreed late Tuesday to spend $9.4 billion to become the top North American natural gas utility operator in North America with the purchase of three Dominion Inc. systems, which, once completed, would deliver 9.3 Bcf/d to seven million U.S. and Canadian customers. The Dominion systems to be sold, East Ohio Gas Co., Public…

Viper Energy Partners LP has entered a deal to substantially expand its Lower 48 mineral and royalty interest footprint through an acquisition from two private equity firms. The Diamondback Energy Inc. subsidiary agreed to acquire about 7,300 net royalty acres from Warwick Capital Partners and GRP Energy Capital for roughly 9.02 million Viper common units…

Equinor ASA, whose broad U.S. portfolio stretches from Appalachia into the Gulf of Mexico, is snapping up a quarter-stake in the Chevron Corp.-led Bayou Bend CCS LLC, positioned to be one of the largest carbon capture, utilization and storage (CCUS) projects on the Texas coast. In the agreement with Texas Carbon 1 LLC, a subsidiary…

Investment firm Peak 10 Energy Holdings LP made its inaugural acquisition of assets in the Permian Basin’s Eastern Shelf, expanding its position as it snaps up and works with operators to develop Lower 48 oil and natural gas assets. The private equity (PE)-backed company made its inaugural purchase of acreage in Fisher and Scurry counties,…

AltaGas Ltd. agreed Thursday to buy some natural gas storage assets and midstream properties in Alberta’s Montney Shale from Tidewater Midstream and Infrastructure Ltd. in a cash-and-stock deal valued at $447 million. The package includes the northern Pipestone natural gas processing, storage and pipeline network, as well as the Dimsdale gas storage facility. “We are…