Lime Rock Resources reached a definitive agreement to buy oil and gas properties in the Permian Basin for $508.3 million from an undisclosed private seller.
The move comes after a five-month-long bitter bidding war between Brookfield Infrastructure Partners and Pembina Pipeline for Canadian pipeline operator Inter Pipeline.
Whiting Petroleum entered into separate definitive agreements totaling $458 million to acquire Williston Basin assets in North Dakota and divest all its oil and gas assets in the D-J Basin of Colorado.
Here’s a snapshot of recent energy deals including Kinder Morgan’s entry into the energy transition space through a $310 million acquisition.
The commitment will be used to continue Grenadier Energy’s strategy to acquire, develop and exploit assets, which The Woodlands, Texas-based E&P company says it has employed successfully through multiple iterations.
So far in 2021, Earthstone Energy has completed two acquisitions in the Permian Basin and announced another in the Eagle Ford Shale for a total of $360 million spent in aggregate acquisitions, says CEO Robert J. Anderson.
BHP and Woodside Petroleum declined to comment on what both companies called “market speculation.”
BHP began its retreat from oil and gas in 2018 with the sale of its U.S. shale assets in two separate agreements valued at $10.8 billion.