Ovintiv Closes Montney Acquisition, Completing $4.3B in M&A
Ovintiv closed its $2.3 billion acquisition of Paramount Resource’s Montney Shale assets on Jan. 31 after divesting Unita Basin assets for $2 billion last week.
Shell, Canadian Natural Resources to Swap Oil Sands, CCS Interests
In a swap transaction, Canadian Natural Resources Ltd. will own 100% interest in the Athabasca Oil Sands Project after acquiring a 10% interest from Shell Canada Ltd. in exchange for a 10% interest in carbon capture and storage facilities.
Ovintiv Closes $2B Uinta Sale to FourPoint Resources
Ovintiv is exiting Utah’s Uinta Basin in a $2 billion sale to FourPoint Resources, which will take over some of the play’s highest quality acreage.
Riverstone’s Leuschen Plans to IPO Methane-Mitigation-Focused SPAC
The SPAC will be Riverstone Holdings co-founder David Leuschen’s eighth, following the Permian Basin’s Centennial Resources, the Anadarko’s Alta Mesa Holdings and the Montney’s Hammerhead Resources.
Enverus: M&A Set to Cool with Smaller Deals, Higher Breakevens
With fewer acquisition targets, Enverus Intelligence Research said the quality of acquired inventory is declining, with breakevens averaging $50/bbl in 2024 versus $45/bbl in 2022 and 2023.
Spartan Delta Ups Bought Deal Financing to $59MM
Underwriters have agreed to purchase approximately 22.2 million of Spartan Delta Corp. common shares, for resale to the public, at CA$3.82 per share (US$2.66), the company said.
Pickering Prognosticates 2025 Political Winds and Shale M&A
For oil and gas, big M&A deals will probably encounter less resistance, tariffs could be a threat and the industry will likely shrug off “drill, baby, drill” entreaties.
Shale Outlook Uinta: Horizontal Boom to Continue in 2025
After two large-scale transactions by SM Energy and Ovintiv, the Uinta Basin is ready for development—and stacked pay exploration.
MVP Produces Lithium at DLE Plant in Montney
MVP Lithium said it produced 99.9% pure battery-grade lithium hydroxide from brine via direct lithium extraction.
Vermilion Energy to Acquire Canada's Westbrick for $745MM
Canada’s Vermilion Energy Inc. will acquire Westrbrick Energy’s Alberta Deep Basin assets, including 700 locations, for CA$1.075 billion.