Permian

Shale Plays , Acquisitions & Divestitures

Sitio Royalties Unveils Pair of Permian Basin Acquisitions Worth Nearly $550 Million

On June 27, Sitio Royalty said it completed the acquisition of Permian Basin acreage from Foundation Minerals for approximately $323 million and entered an agreement to acquire additional Permian acreage from Momentum Minerals for $224 million.

June 27, 2022

Shale Plays , Acquisitions & Divestitures , Gathering & Processing

DCP Midstream Expands Permian Basin Footprint with $160 Million Bolt-on Acquisition

Denver-based DCP Midstream recently agreed to acquire the James Lake System from Woodland Midstream II, which increases DCP’s gathering capacity in the Permian Basin.

June 27, 2022

Obituaries

Texas Oil Giant Curtis Mewbourne Dies at 86

Curtis Mewbourne founded his company, Mewbourne Oil, in 1965 and grew it over the years into one of the largest closely held oil companies in the U.S. focused in the Permian and Anadarko basins.

June 24, 2022

Acquisitions & Divestitures , Trends , Mergers

Energy A&D Transactions from the Week of June 22, 2022

Here’s a snapshot of recent energy deals including Targa Resources’ $3.55 billion cash acquisition of Lucid Energy Group in the Permian Basin.

June 22, 2022

Lease Sales

On the Market Oil and Gas Quicklist (Week of June 22, 2022)

Here’s a quicklist of oil and gas assets on the market including PetroQuest Energy operated East Texas natural gas interests plus a Verado Energy operated horizontal development in the Permian Basin.

June 22, 2022

Joint Ventures

Marketed: Verado Energy, Partners Permian Basin Operated Horizontal Development Opportunity

Verado Energy Inc. and partners retained Core Energy Advisors for the sale of operated properties located within the Permian Basin in the Hermleigh East Field of Scurry County, Texas.

June 22, 2022

Public Capital , Shale Plays

Diamondback Energy Raises Return of Free Cash Flow to Shareholders

The Diamondback Energy board approved an increase to its current commitment to return at least 50% of its free cash flow. The net effect will return 75% of the Permian Basin producer’s FCF during the second half of 2022.

June 21, 2022

Private Equity , Shale Plays , Transactions

Percussion Petroleum Reportedly Seeking Sale Worth Up to $1.5 Billion

Percussion Petroleum II bought the bulk of its assets in the Permian Basin from Oasis Petroleum a year ago for $375 million plus contingent payments.

June 21, 2022

Lease Sales

Marketed: Legacy Permian Basin Mineral, Royalty Portfolio

A private seller retained TenOaks Energy Advisors for the sale of certain mineral and royalty properties located in the Delaware and Midland basins of the Permian.

June 21, 2022

Private Equity , Shale Plays , Acquisitions & Divestitures

Double Eagle Launches New Venture with Over $1.7 Billion from EnCap, Others

Double Eagle Energy’s latest venture will pursue a similar strategy in the Permian Basin that led to the success of the predecessor companies, but on a “considerably larger scale,” according to the release.
 

June 20, 2022