Could this set the stage for more public-to-public deals? Chevron is boosting its footprint in the D-J basin with the acquisition of PDC Energy. The $6.3 billion stock deal also adds some acreage in the Permian's Delaware basin. Chevron expects the transaction to deliver about $1 billion in annual free cash flow within the first year of closing.
Chord Energy strengthened it position in the Williston Basin through a deal with Exxon Mobil subsidiary XTO Energy. The $375 million cash deal adds about 62,000 net acres in the Williston, where Chord is already one of the basin's largest operators. The deal also comes as Chord divests non-core acreage outside of the basin.
Next Era Energy Partners is selling its midstream assets in a major shift to renewables. The company plans to sell midstream assets in the Eagle Ford in 2023 and a gas pipeline in Pennsylvania in 2025.
And that's your A&D minute with Hart Energy LIVE at the first ever SUPER DUG conference and exhibition in Fort Worth. Be the first to watch new episodes every Wednesday with our A&D Watch newsletter. Sign up at hartenergy.com/transactions.
Recommended Reading
From Siloed to Optimized: How Exxon Mobil Juiced Its Technology Approach
2023-05-16 - One year after integrating technology and engineering functions, the supermajor’s EMTEC encourages collaboration and improves problem solving.
Baker Hughes CEO on ‘Unsung Hero’ of the Energy Transition
2023-05-19 - Experts, including Baker Hughes Chairman and CEO Lorenzo Simonelli, called for increased collaboration and more investment in digital tech during the AWS Energy Symposium.
In the Battle for Cybersecurity, End Users are First Line of Defense
2023-05-04 - Cybersecurity behaviors must become as automatic as the use of hard hats and steel toe boots, experts at the Offshore Technology Conference said.
Artificial Intelligence Dreams Up a New Era in Energy
2023-05-02 - At Cognite’s Generative AI for Industry Summit, industry experts discussed new uses for artificial intelligence and how it could impact the energy industry.
Tech Trends: Waterfall Security CEO Talks Cyber Resilience in Oil and Gas [WATCH]
2023-05-23 - In this week's Tech Trends, find out how Waterfall Security CEO feels about oil and gas companies' usage of cybersecurity tactics, and what needs to be done to better prevent cyber attacks in the industry.