CrownRock LP
Transactions
BreitBurn Energy Closes Permian Acquisitions For $302 Million
BreitBurn Energy Closes Permian Acquisitions For $302 Million
BreitBurn Energy Partners Closes Permian Basin Acquisition
BreitBurn Energy Partners Closes Permian Basin Acquisition
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New Financings
Priced a private offering of 5.000% senior unsecured notes due 2029. CrownRock, an oil and gas producing…
Pricing a private offering of $185 million aggregate principal amount of 5.625% senior notes due 2025 at…
Priced a private offering of $1 billion principal amount of 5.625% senior notes due 2025. The notes will…
Completed its offering of 7.125% senior unsecured notes due 2021. Proceeds will be used to fund its…
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News
Private Equity Gears Up for Big Opportunities
The private equity sector is having a moment in the upstream space.
Non-op Rising: NOG’s O’Grady, Dirlam See Momentum in Co-purchase M&A
Non-operated specialist Northern Oil & Gas is going after larger acquisitions by teaming up with adept operating partners like SM Energy and Vital Energy. It’s helping bridge a capital gap in the upstream sector, say NOG executives Nick O’Grady and Adam Dirlam.
Private Producers Find Dry Powder to Reload
An E&P consolidation trend took out many of the biggest private producers inside of two years, but banks, private equity and other lenders are ready to fund a new crop of self-starters in oil and gas.
Could UpCurve Be an M&A Target in Delaware Inventory Scramble?
On a shrinking list of private equity-backed Delaware Basin operators, UpCurve Energy’s CEO told Hart Energy there’s a “reasonable chance” the company’s Reeves County, Texas, assets will be sold off.
APA Executive: After Recent Divestitures, ‘More to Come’
At the EnerCom Denver conference, an APA Corp. executive didn’t address reports that APA was shopping up to $1 billion in Permian Basin assets, but he said the company is looking to shed $2 billion in term loans associated with its purchase of Callon Petroleum.
Oxy Nears $4.5B Debt Reduction Target Post Barilla Draw Sale
Occidental Petroleum, which paid $12 billion to acquire CrownRock LP, looks to achieve 85% of its near-term debt reduction target of $4.5 billion by the end of the third quarter 2024, says Oxy CEO Vicki Hollub.
Debt, Politics and Gas: Ecopetrol Explains Rejecting $3.6B Oxy Deal
Ecopetrol said its decision to not move forward with a $3.6 billion deal to acquire Oxy’s CrownRock LP assets was mainly due to the impact on its leverage, but also political shifts under Colombian President Gustavo Petro.
CrownRock Offloads Oxy Shares Two Weeks After Closing $12B Deal
Underwriters of the offering agreed to purchase CrownRock’s Occidental stock at $58.15 per share, which will result in approximately $1.719 billion in proceeds before expenses.
Oxy CEO Hollub on Divestment Plans: This is Not a ‘Fire Sale’
Occidental Petroleum is keeping under wraps what it might sell to prevent compromising “our ability to maximize the value,” CEO Vicki Hollub said during an Aug. 8 earnings call.
Oxy Faces Mounting Debt as Ecopetrol Declines CrownRock Deal
Fitch Ratings and Moody’s Ratings expected an Ecopetrol deal of $3.6 billion to help Occidental Petroleum reach its $4.5 billion to $6 billion debt reduction target.
Exxon Pairs Record Pioneer Output with Record Legacy Permian Volumes
After closing a $63 billion acquisition of Pioneer Natural Resources, Exxon is the largest producer in the Permian Basin—and the entire U.S.
Occidental Closes $12 Billion Acquisition of CrownRock
Occidental has already started the process of reducing debt incurred through its acquisition of CrownRock LP with an $817 million sale in late July of Delaware Basin assets to Permian Resources.
Oxy: Ecopetrol Declines to Buy Interests in Permian E&P CrownRock
Following discussions between Permian joint venture partners Occidental Petroleum and Ecopetrol, the Colombian oil company declined to acquire a 30% stake in CrownRock LP’s Midland Basin assets.
2Q Upstream M&A Tops $30B as Deals Hit Utah, Eagle Ford, Bakken
A historic run of U.S. upstream M&A transactions continued unabated during the second quarter, according to Enverus data.
Permian Resources Bolts-on Oxy’s Delaware Basin Assets for $820MM
Permian Resources will add Occidental Petroleum’s Barilla Draw assets in an $817.5 million deal as Oxy prepares to pay down debt for its pending $12 billion acquisition of CrownRock LP.