Giselle
Warren
Hart Energy
On the Market This Week (June 2, 2025)
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 to Acquire 65% of Baker Hughes’ Surface Pressure Control Business
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.
Whitecap, Veren Create Top Canadian E&P Post $10.4B Merger
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 Sells $83MM in Permian Assets to Reduce Debt
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.
The Latest
M&A Experts: Expect Brisk Return to Deal Flow in Second Half
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.
E&P Highlights: June 16, 2025
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 Closes $608MM Bolt-On of APA’s Delaware Assets
Permian Resources’ acquisition of New Mexico assets from APA Corp. includes 13,320 net acres and average production of 12,400 boe/d.
Espada E&P Startup Nabs Carnelian Backing for Onshore M&A Run
Espada Energy Partners, backed by Carnelian funds, joins a new wave of startup E&Ps hunting for M&A opportunities.
Baker Hughes Buys Continental Disc for $540MM
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 Expands Offshore Malaysia, Indonesia with Petronas Deal
TotalEnergies acquired offshore positions from Petronas, reinforcing its strategic LNG growth platform.
Reports: Mitsubishi Targeting Haynesville E&P Aethon in $8B Deal
Japan’s Mitsubishi is reportedly in talks to acquire Aethon Energy’s Haynesville assets in a deal that could be worth $8 billion.
The Asian Buyers are Coming and They’re Ready to ‘Overpay’
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.
DNO Completes $450MM Acquisition of Sval Energi
Norweigian operator DNO says its deal to acquire Sval Energi quadruples its North Sea output.
ADNOC, Carlyle Offer $18.8B for Australia’s Santos Ltd.
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.