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.
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.
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.
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.
After two large-scale transactions by SM Energy and Ovintiv, the Uinta Basin is ready for development—and stacked pay exploration.
MVP Lithium said it produced 99.9% pure battery-grade lithium hydroxide from brine via direct lithium extraction.
Canada’s Vermilion Energy Inc. will acquire Westrbrick Energy’s Alberta Deep Basin assets, including 700 locations, for CA$1.075 billion.
Surge Energy said it has focused on developing its core Sparky and southeast Saskatchewan crude oil assets, leaving the Alberta non-core assets undercapitalized.
NuVista Energy announced revised production guidelines following temporarily curtailing production in the Wapiti area of the Alberta Deep Basin.
Logan Energy Corp. paid approximately $37 million for 50% working interests in Gran Tierra’s Simonette Montney assets and will assume operatorship.