This company is boosting its stake in a Canadian oil sands project in a $3 billion deal with TotalEnergies. The deal transfers full ownership of the Surmont oil sands asset in Alberta to ConocoPhillips, whose first right of refusal on the project trips up Canadian producer Suncor’s plans to acquire Total’s Canadian business.
After closing a transformational deal earlier this year, VTX Energy Partners is looking for more growth in the Permian and aims to be a consolidator in the fragmented southern Delaware Basin. CEO Gene Shepherd said the company might even look to do M&A outside of the Permian.
The team behind Stronghold Energy II is back and searching for Permian deals. Steve and Caleb Weatherl have secured $500 million in financing for Garrison Energy Holdings. Caleb Weatherl told us that Garrison is evaluating deals in the Delaware Basin, Midland Basin, Central Basin Platform and Northwest Shelf.
And that’s your Hart Energy Live A&D Minute, powered by the Cybersecurity in Energy and Energy Infrastructure and Technology Conference June 27 and 28. Watch new A&D Minute episodes every Wednesday and sign up for our A&D Watch newsletter at hartenergy.com/deals.
2023-07-25 - Chevron’s oil and gas output from the Permian Basin reached record levels in the second quarter, surpassing analysts’ production and earnings estimates.
2023-08-24 - E&Ps have been expanding capital budgets, producing more ESG reporting and returning capital to shareholders and companies appear poised to return to M&A, a report by EY found.
2023-07-09 - Trio Petroleum began full field development activities for its South Salinas Project in California a week after announcing planned production tests for its HV-1 well in July.
2023-09-14 - TotalEnergies and APA Corp. have launched development studies offshore Suriname in Block 58 and eye the start of detailed engineering studies by end 2023 and a $9 billion FID by year-end 2024.
2023-08-01 - Mexico’s energy giant Petróleos de Mexico is staying true to an accelerated production strategy at new field developments to arrest overall declines in crude oil and condensates production.