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
Low US Oil Reserves to Clash with ‘Above Normal’ Hurricane Season
2023-08-24 - Enverus says oil and gas production will not take a major hit in a normal hurricane season, but depressed U.S. Strategic Petroleum Reserve levels may hinder the government’s response.
E&P Highlights: July 10, 2023
2023-07-10 - Here’s a roundup of the latest E&P headlines including progress redeveloping the Tyra Field and new contract awards in the upstream oil and gas industry.
E&P Highlights: Sept. 18, 2023
2023-09-18 - Here’s a roundup of the latest E&P headlines, including an awarding of blocks from Lease Sale 259 and the start of production from a new well.
E&P Highlights: Aug. 14, 2023
2023-08-14 - Here’s a roundup of the latest E&P headlines including plans the Brasse tieback on the Norwegian Continental Shelf and several contract announcements.