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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