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.
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