Here is a roundup of oil and gas leaseholds on the market during the week of June 2 in the Austin Chalk formation, Permian Basin, Bakken Shale and offshore Louisiana.
Cactus CEO Scott Bender said the $344.5 million deal with Baker Hughes improves the oilfield equipment company’s access to new markets unaffected by tariffs.
The combined company will operate under the Whitecap Resources name and is selling non-strategic assets in Saskatchewan and Kaybob as Whitecap and Veren integrate.
Crescent Energy has divested non-operated Permian Basin assets for $83 million as part of the company’s plans to sell $250 million of non-core divestures.
Private equity firms are loaded for “pent-up” portfolio rationalization after rampant industry consolidation, particularly in the Permian—but the timing is anyone’s guess.
Here’s a roundup of the latest E&P headlines, including the third major transaction this month for Baker Hughes and an explorer award for Exxon Mobil.
Permian Resources’ acquisition of New Mexico assets from APA Corp. includes 13,320 net acres and average production of 12,400 boe/d.
Espada Energy Partners, backed by Carnelian funds, joins a new wave of startup E&Ps hunting for M&A opportunities.
Baker Hughes announced its third transaction this month—this time to acquire pressure management solutions provider Continental Disc Corp. for $540 million—as the company seeks to optimize its portfolio.
TotalEnergies acquired offshore positions from Petronas, reinforcing its strategic LNG growth platform.
Japan’s Mitsubishi is reportedly in talks to acquire Aethon Energy’s Haynesville assets in a deal that could be worth $8 billion.
Asian buyers of U.S. oil and gas property “have a lower cost of capital to begin with and lower return thresholds,” an M&A advisor said. Their math on what a property is worth is different than the math U.S.-based oil and gas producers use.
Norweigian operator DNO says its deal to acquire Sval Energi quadruples its North Sea output.
Santos Ltd. has received a final, non-binding offer from a consortium led by Abu Dhabi National Oil Co., or ADNOC, that represents a 28% premium over the company’s June 13 closing price.